Distribution FAQs Distribution FAQs

Distribution FAQs

Daniel Bennett Daniel Bennett

If you'd like to request a distribution, please submit a form by following this link.

What is the difference between a distribution and a transfer out?

A distribution is a withdrawal of funds from your IRA directly to your bank account or personal crypto wallets. These must be initiated by you and require a verification call before proceeding with the withdrawal. 

A transfer out is a withdrawal of assets directly to another valid IRA custodian. The new custodian must provide a signed transfer form with funding instructions from its platform.

Are there fees associated with taking a distribution?

There are no fees or charges for distribution or transfer out requests from our platform. 

Why is my distribution taking so long?

Generally, distributions take 7-14 business days from the day of the DocuSign signing. This timeline accounts for any internal authorization and approvals before moving your assets. We take pride in our services, and these security measures are put in place to avoid any misappropriation of assets. 

I keep getting emails and notifications about a withdrawal of funds, but I have not initiated anything. Please help. 

If you have not initiated a transfer out or distribution request, please contact our direct line (562) 600-8437 as soon as possible to speak with a representative to address this issue. 

When can I take a distribution?

For information on when you can take a distribution please click here or visit the IRS website.

What is an in-kind distribution?

Many clients choose to take distributions in USD. We also permit clients to take their assets in-kind to their digital wallets. This means you can take possession of the assets you have invested with us in the same form (in-kind).

Can I have the physical bars/coins sent to me instead?

You can contact Kitco directly once your previous metals have been transferred to arrange for physical delivery. Please visit Kitco's FAQ page for additional questions. Kitco charges retail clients a $100.00 annual fee for VaultChain accounts. VaultChain will reimburse this fee if you take physical delivery of their metals within 30 days. Kitco's terms and conditions will apply.

Do I need to withhold federal taxes? 

You do have the option to withhold federal taxes on all distributions made in USD. Please select the exact percentage when completing the distribution form if you would like to. We currently do not withhold any taxes on in-kind distributions. Please speak with a tax professional for further guidance on how this may impact your taxes.  

 

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