In reality, you can't buy I bonds in a retirement account, such as a 401 (k) or an IRA, because they already have tax advantages. Since there are no payments until the bond matures or sells, you won't pay taxes on it until then. When you withdraw money, you'll owe federal taxes, but not state or local taxes. Since an IRA is not an individual and does not have a social security number, generally a Roth IRA, an SEP IRA, or a SIMPLE IRA cannot directly own a bond I.
However, if you are looking to invest in gold through your retirement account, you can purchase a Gold IRA kit to get started. Therefore, as long as the IRA has a tax identification number, you could apply for an I bond through Treasury Direct. Just as technically an IRA can be treated as a trust and use Treasury Direct to purchase I bonds, a retired investor can set up a self-directed IRA LLC to purchase bonds I. It is not clear if the Treasury planned to use an IRA and 401 (k) plans would be eligible to purchase I bonds through Treasury Direct. However, many IRA Financial customers have successfully purchased I bonds with an individual self-directed 401 (k) plan through Treasury Direct.
Contact IRA Financial at 1-800-472-0646 or complete the form to learn more about opening a self-managed retirement account.
