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au

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Posts: 36
Reply with quote  #1 
I've completed multiple IRA complaint reports to the IRS.  In my case, my complaint is that I'm unable to do an IRA distribution on my metals properties, since my storage custodian claims to not be in possession of my metals.

In my case:
1. Asked IRS to contact ET/BD on my behalf to find out the location of my IRA bullion property.  I've tried myself but have not gotten very far of course.
2. Asked IRS to verify if BD was adhering to section 408(m)(3).
(requiring my storage custodian to be in physical possession of my property)

I gave them names, addresses and even personal phone numbers (I did extensive Internet searches) of all involved parties: ET, BD, IDS Vault).

Here is a list of fraud/tip emails if you'd like to do the same (I sent same email to all 3):

irs.tax.shelter.hotline@irs.gov
tegeepsheltercoord@irs.gov
Complaints@tigta.treas.gov

The IRS has a whole slew of tip/complaint contact information (including forms).

Personally, I don't get the feeling that this part of the IRS (the one concerned with IRA rule adherence and not the one regarding potential BD/CM tax evasion) is aware or made enough aware of any BD complaints and hence I think it's important that BD IRA holders give them a little press.  It's better than remaining silent.  -au
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nobody

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Posts: 360
Reply with quote  #2 
Especially since to the extent it's not recovered, you'll want evidence supporting you reported it;  They're not a PD, but to the extent it gets a nice big note in their internal audit docs "2015 will have a lot of weird loss claims in IRAs", it should hopefully make things easier.

At this point it hurts very little to talk to anyone who's ear you can find.

-n
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Lars

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Posts: 43
Reply with quote  #3 
Thanks, au.  I was searching the IRS website for this, but ended up getting diverted to the SEC page.  I had strongly suspected a rule such as 408(m)(3) existed due to the fact there are restrictions on the types of PMs you can purchase for an IRA.  Thanks for digging it out, and I will also pile on.
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