{"id":7699,"date":"2016-11-23T10:45:14","date_gmt":"2016-11-23T15:45:14","guid":{"rendered":"http:\/\/www.escapeartist.com\/?p=7699"},"modified":"2020-07-09T03:37:30","modified_gmt":"2020-07-09T07:37:30","slug":"heres-get-ira-united-states","status":"publish","type":"post","link":"https:\/\/www.escapeartist.com\/blog\/heres-get-ira-united-states\/","title":{"rendered":"Here\u2019s how to get your IRA out of the United States"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The time of President Trump is approaching quickly. No matter who you voted for, we all see risk in an untested President. 70% of Americans view Trump unfavorably, and the rest of us don\u2019t know what to expect. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Whether you think Trump will <\/span><a href=\"http:\/\/www.newyorker.com\/humor\/borowitz-report\/in-final-appeal-to-voters-clinton-changes-slogan-to-wont-blow-up-planet\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">blow up the world<\/span><\/a><span style=\"font-weight: 400;\">, or you\u2019re ready to give him a chance, you can take steps to protect your savings should something go wrong. You can get your IRA out of United States and into a foreign currency. You can invest your IRA outside the US and take control of your retirement savings. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">We have no idea what\u2019s going to happen. It might be great or it might be a total mess. What we do know is that changes are coming\u2026 we don\u2019t know what those changes will be, but we know they\u2019re heading this way like a Trump train. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">And <\/span><b>we know there is risk in change.<\/b><span style=\"font-weight: 400;\"> We know that things are likely to get worse before they get better. We know there have been and will be protests as ideas and the status quo are challenged. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">With painful change (for the better or worse) on the way, <\/span><b>you should take steps now to minimize the cost of that pain or change to you and your family<\/b><span style=\"font-weight: 400;\">. The best and most efficient way to protect your savings is to move your <\/span><a href=\"http:\/\/premieroffshore.com\/self-directed-ira\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">IRA out of the United States<\/span><\/a><span style=\"font-weight: 400;\"> and into a foreign currency or high returning investment. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">With that said, here\u2019s how to get your IRA out of the United States\u2026<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You can move any retirement account from a previous employer, or any portion of a retirement account that has vested into an offshore structure. In practice, very few have vested accounts from a current employer. 99% of the time, IRAs which go offshore are from previous jobs or from recent retirees. <\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">If you\u2019re unsure if your IRA has vested, check with human resources. <\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The first step in moving your IRA out of the United States is to form an offshore IRA LLC. This is a single member Limited Liability Company formed in an offshore jurisdiction that won\u2019t tax your gains and will maximize the privacy and asset protection benefits of going offshore. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Your IRA LLC will be formed in a country such as Belize, Cook Islands, Nevis, and Seychelles. The country chosen will depend on your investment objectives and banking needs. Note that only countries with single member LLC statutes can be used, so your choices are somewhat limited. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Your offshore IRA LLC will be owned by your retirement account(s) and you\u2019ll be the manager of that company. This way, your accounts maintain their tax preferred status (tax exempt for a ROTH and tax deferred in a traditional IRA), and you gain control over your cash. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">As the manager of an offshore IRA LLC, you\u2019re in full control. You select the investments, send wires, and manage the day to day activity of your investments. You can chose to hold all of your money in a foreign currency, or invest in real estate, stocks and bonds, or physical gold. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">You might also use your IRA to gain residency offshore. For example, here\u2019s how to get <\/span><a href=\"http:\/\/premieroffshore.com\/how-to-get-residency-in-panama-using-your-ira\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">residency in Panama<\/span><\/a><span style=\"font-weight: 400;\"> using your offshore retirement account. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Remember that the LLC is owned by your retirement account. Your \u201cjob\u201d is to manage that account for the benefit of your IRA. As such, you must follow all of the same US rules as a professional investment advisor does. For example, you can\u2019t borrow from the LLC, can\u2019t benefit from the investments, can\u2019t invest or lend money to a business you control, can\u2019t buy a home and live in it (even if you will pay rent), and you may only buy certain <\/span><a href=\"http:\/\/premieroffshore.com\/ira-gold-rules\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">types of gold<\/span><\/a><span style=\"font-weight: 400;\">. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Basically, treat the account as a fiduciary should, with all transactions done at arm&#8217;s length, and you\u2019ll be fine. Always act as an independent advisor for the benefit of the account. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Once your IRA is formed, and you understand the rules, you&#8217;re ready to begin making moves. Most IRA custodians don\u2019t allow you to control your own account. They limit you to investing in what has the highest margins for them, and don\u2019t want you taking your capital out of the United States. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">For this reason, you probably need to change custodians before getting your IRA out of the United States. Don\u2019t worry, this is quite easy. You simply fill out a few forms and your new custodian will handle the rest. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">We work with a number of US custodians and recommend NuView, Midland, Suntrust and Entrust. Each has many years of experience and thousands of offshore clients. If you have another custodian in mind, we\u2019ll be happy to work with them as well. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Once you\u2019re IRA is with a custodian that allows for offshore IRA LLCs, you send then the wire instructions to the international bank account we established for your LLC. They wire all or some of your cash to the LLC and you\u2019re off to the races. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">That\u2019s all it takes to get your IRA out of the United States and into an offshore company under your management. In most cases, this can be completed in about two weeks time. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Your new structure will allow you to hedge against whatever is coming. It will also provide maximum diversification and asset protection. For a pre-Trump article on the risks to your IRA, see: <\/span><a href=\"http:\/\/premieroffshore.com\/top-5-risks-to-your-ira\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">Top 5 Risks to Your IRA<\/span><\/a><span style=\"font-weight: 400;\">. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">If things go very wrong, and you decide to move out of the US, your IRA will be there waiting for you. If you then decide to give up your US citizenship, take a read through: <\/span><a href=\"http:\/\/premieroffshore.com\/what-happens-to-your-ira-when-you-give-up-us-citizenship-expatriate\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">What Happens to Your IRA when you give up US Citizenship \/ Expatriate?<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">I hope you\u2019ve found this article on how to get your IRA out of the United States to be helpful. For more on taking your retirement account offshore, please send an email to <\/span><a href=\"mailto:info@premieroffshore.com\"><span style=\"font-weight: 400;\">info@premieroffshore.com<\/span><\/a><span style=\"font-weight: 400;\"> or call us at (619) 550-2743. All consultations are free and confidential. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The time of President Trump is approaching quickly. No matter who you voted for, we all see risk in an untested President. 70% of Americans view Trump unfavorably, and the rest of us don\u2019t know what to expect. Whether you think Trump will blow up the world, or you\u2019re ready to give him a chance, [&hellip;]<\/p>\n","protected":false},"author":686,"featured_media":5752,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","om_disable_all_campaigns":false,"footnotes":"","_jetpack_memberships_contains_paid_content":false},"categories":[1401,562],"tags":[],"yst_prominent_words":[1724,1761,4725,2810,10027,11558,2461,2985,2061,8592,8583,11559,11561,3023,11560,11562,2409,2411,1804],"acf":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.escapeartist.com\/wp-content\/uploads\/2016\/03\/pic-300x200.jpg","_links":{"self":[{"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/posts\/7699"}],"collection":[{"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/users\/686"}],"replies":[{"embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/comments?post=7699"}],"version-history":[{"count":3,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/posts\/7699\/revisions"}],"predecessor-version":[{"id":29779,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/posts\/7699\/revisions\/29779"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/media\/5752"}],"wp:attachment":[{"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/media?parent=7699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/categories?post=7699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/tags?post=7699"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/yst_prominent_words?post=7699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}