Solo 401k Precious Metals Parties
The following generally make up the parties to a Solo 401k precious metals transaction:
Solo 401k Plan – means the entity that owns the precious metals
The Self-Directed Solo 401k trustee - the one responsible for investing the Solo 401k plan assets in precious metals in accordance with the Solo 401k trust agreement.
Precious Metals Broker/Dealer- means the entity that buys and sells precious metals. Therefore, when the entity places orders per the Solo 401k trustee’s directive, it is functioning as a broker. However, when placing orders for its own account, it is operating as a dealer.
The precious metals broker/dealer maintains contractual relationships with the Solo 401k plan trustee/fiduciary and one or multiple precious metals wholesalers.
Precious Metals Wholesaler – means the entity that purchases and sells precious metals to and from broker/dealers.
The precious metals wholesaler keeps contractual relationship with the broker/dealer.
Depository – means the entity that takes possession, examines, stores, internally transfers and ships bullion. Depositories run high-security vaults and distribution facilities.
The Depository maintains a contractual relationship with the Solo 401k Trustee/Fiduciary who is acting on behalf of the Solo 401k plan.
Additional Information
Solo 401k Precious Metals
How to Purchase Precious Metals with Solo 401k
Solo 401k Precious Metals Terminology
Solo 401k Plan – means the entity that owns the precious metals
The Self-Directed Solo 401k trustee - the one responsible for investing the Solo 401k plan assets in precious metals in accordance with the Solo 401k trust agreement.
Precious Metals Broker/Dealer- means the entity that buys and sells precious metals. Therefore, when the entity places orders per the Solo 401k trustee’s directive, it is functioning as a broker. However, when placing orders for its own account, it is operating as a dealer.
The precious metals broker/dealer maintains contractual relationships with the Solo 401k plan trustee/fiduciary and one or multiple precious metals wholesalers.
Precious Metals Wholesaler – means the entity that purchases and sells precious metals to and from broker/dealers.
The precious metals wholesaler keeps contractual relationship with the broker/dealer.
Depository – means the entity that takes possession, examines, stores, internally transfers and ships bullion. Depositories run high-security vaults and distribution facilities.
The Depository maintains a contractual relationship with the Solo 401k Trustee/Fiduciary who is acting on behalf of the Solo 401k plan.
Additional Information
Solo 401k Precious Metals
How to Purchase Precious Metals with Solo 401k
Solo 401k Precious Metals Terminology