Learn about taking an in-kind distribution from your account at Brinks Depository, what to expect from shipping, and tax reporting.
Once STRATA has received and reviewed your IRA Distribution Request - Precious Metals form, STRATA will reach out to Brinks for your shipping fee calculations. Once we have your shipping fees, STRATA will reach out to you directly to verify your contact information and collect the Shipping Fees and In-Kind Processing fee (see STRATA's IRA Fee Schedule). STRATA will then comply with your request by sharing the details of your distribution instructions with the depository.
- Precious Metals Shipping- If you have elected to receive your metals, Brinks Depository will prepare your shipment and create the overnight UPS label. You will receive an email from UPS regarding your overnight shipment that is in process. Upon the arrival of your package, it is important to note that a signature will be required. Please be prepared to sign for your shipment to ensure its safe delivery. Keep in mind that delivery times can very during certain times of the year.
Tax Reporting
By January 31st of the following year, STRATA will send you a 1099-R for any precious metals that were distributed from your IRA storage account and either placed in your personal storage account or shipped directly to you. The value reported on the 1099-R will be based on the value of the distribution at the time it was processed by Brinks Depository.