Frequently Asked Question
Can I hold non-dollar currencies in my retirement fund?
Yes. You would need to find a financial institution that can facilitate these currencies in a retirement account. Many are unable to do so, as their systems are not programmed to perform the currency conversion necessary to satisfy IRS tax reporting requirements, which must be done in U.S. dollars.
To learn more, see Wading Into The Currency Market.
Question answered by Denise Appleby, CISP, CRC, CRPS, CRSP, APA
To learn more, see Wading Into The Currency Market.
Question answered by Denise Appleby, CISP, CRC, CRPS, CRSP, APA
by
Denise Appleby
Denise Appleby is founder and owner of Appleby Retirement Consulting,which provides technical consultation, content, coaching, writing, editing and training services on related topics.
With more than 14 years of experience in the IRA and defined-contribution plans fields, Appleby has held several senior retirement-plan related positions with Pershing LLC, which included vice president of plans products and services, retirement plans manager, trainer, training manager, compliance consultant, technical help desk manager and writer.
With more than 14 years of experience in the IRA and defined-contribution plans fields, Appleby has held several senior retirement-plan related positions with Pershing LLC, which included vice president of plans products and services, retirement plans manager, trainer, training manager, compliance consultant, technical help desk manager and writer.
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