Learn about taking an in-kind distribution from your account at Delaware Depository, what to expect from personal storage or shipping, and tax reporting.
To take an in-kind distribution of your precious metals from Delaware Depository, you will need to complete the IRA Distribution Request - Precious Metals form. Once received, STRATA will review the request and reach out to you to verify your contact information of record and collect associated shipping and processing fees (see STRATA's IRA Fee Schedule). STRATA will then provide the details of your request to the depository for processing.
If you have an existing personal account with Delaware Depository, you may request that the precious metals be moved to that account to complete the in-kind distribution process. To do this, please provide STRATA with your Delaware Depository personal storage account number. If you do not have your personal storage account number, please reach out to Delaware Depository to request a personal storage account.
Delivery Options:
- Personal Account Storage: If you have elected to have your metals stored in a personal account, the depository will move your metals accordingly, which can take up to 5 days to process.
- Precious Metals Shipping: If you have elected to physically receive your precious metals, then Delaware Depository will prepare your shipment for delivery with the courier. You will receive an email from the courier regarding your shipment that contains important details about your package and the delivery itself. Upon the arrival of your package, it is important to note that a signature will be required to receive the package. Please be prepared to sign for your shipment to ensure its safe delivery.
Important Information
- Claims: You must contact STRATA within 7 days of receipt of your precious metals to dispute or report any claims on the shipment.
- Package Info: Other than a single reference to Delaware Depository within the shipping information, the shipment will not have any identifying information due to the nature of the delivery.
- Peak Seasons: Delivery times can vary during peak seasons.
Tax Reporting
STRATA is required to report all distributions to the IRS each year. By January 31st of the following year, We will send you a 1099-R by January 31st of the year following the year of distribution, for any precious metals that were distributed from your IRA 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 Delaware Depository.
Questions
If you have questions or concerns, our Client Services Team is here to help. You can reach us at 866-928-9394 or complete our Service Request Form to schedule a time to talk that is convenient for you.