Do I have confidential gold ownership?
Yes. Your gold and silver purchases, sales and holdings are totally confidential. Neither Strategic Gold Corporation nor our custodial vaults is currently required to report either your transactions or your holdings to any authority in any country.
- ADDITIONAL RESOURCES:
- Privacy Policy
- Releasing Personal Information
Does Strategic Gold Disclose the Beneficial Owners Of a Clear Title Account?
No. Strategic Gold has no requirement to disclose the beneficial owners of a Clear Title Account.
Why Does Strategic Gold Offer Storage In Free Trade Zones?
Our secure storage facilities are located within free trade zones where transactions are tax exempt & the identity of the beneficial owner does not need to be disclosed.
In selecting our vaulting locations we have tried to provide you a choice of jurisdictions with a proven track-record and history of defending personal property rights and confidentiality.
- ADDITIONAL RESOURCES:
- Learn more about our vault locations
Does Strategic Gold Report My Account Activity To The IRS Or Any Other Agency?
No. Strategic Gold does not have any obligation to report the account activity that you engage in using your Clear Title Account to the IRS or any other government agency.
Furthermore, there is no required reporting of your Clear Title Account in any of our international vaults as long as your precious metals are maintained within the Chain of Integrity of the Good Delivery System. Wherever you live your trading activity and gold ownership are not reported to any authorities, anywhere in the world. Your trading activity, account balances and bullion assets are therefore not reported.
If you have questions about gold investment on our platform, speak to an account representative at 239 692-9154.
What Are The Consequences of FATCA On My Clear Title Account?
The Foreign Account Tax Compliance Act (FATCA) was enacted in 2010 by Congress to target non-compliance by U.S. taxpayers using foreign accounts. FATCA requires foreign financial institutions (FFIs) to report to the IRS information about financial accounts held by U.S. taxpayers. Various Inter-Governmental Agreements (IGAs) have been signed between the US government and foreign governments in order to implement FATCA.
The scope and application of FATCA is however highly complex and the interpretation of the relevant IGAs is not yet settled. Investors should contact their own tax advisers regarding the application of FATCA to their particular circumstances.
- ADDITIONAL RESOURCES:
- Learn more about FATCA from the government’s website
Do US Accountholders Have To File A Foreign Bank Account Report (FBAR)?
Strategic Gold does not consider itself to be a ‘financial institution’ nor are we a foreign institution. The IRS requires those with a financial interest or signature authority over a foreign financial account to report the account yearly to the Internal Revenue Service by filing Form TD F 90-22.1 otherwise known as the FBAR.
United States persons are required to file an FBAR if:
- The United States person had a financial interest in or signature authority over at least one financial account located outside of the United States; and
- The aggregate value of all foreign financial accounts exceeded $10,000 at any time during the calendar year to be reported.
If you are in any doubt about whether you should file Form TD F 90-22.1 as a result of having a Clear Title Account, we recommend that you consult with your tax advisor.
Please feel free to contact an account representative at 239 692-9154 if you have a question.
- ADDITIONAL RESOURCES:
- Learn more about the FBAR
Does Strategic Gold Corporation File A FBAR?
Yes. Since Strategic Gold has signature authority over the custody accounts which we maintain with our vaulting partners, we file the FBAR. No client information is disclosed through our filing the FBAR.
Please feel free to contact an account executive via email at accounts@strategicgold.com or call us at 239 692-9154 if you have any questions.
Do US Accountholders Have To File Form 8938?
The Foreign Account Tax Compliance Act (FATCA) requires U.S. citizens and residents to file Form 8938 listing “foreign financial assets” with an aggregate value of $50,000 or more with their annual tax return. While guidance from the IRS indicates that if you hold precious metals directly for investment purposes in a foreign country, you are not required to file Form 8938, it does not clearly define what ‘directly held’ means.
Again, if you are in any doubt about whether you should file Form 8938 as a result of having a Clear Title Account, we recommend you consult with your tax advisor.
Please feel free to contact an account executive via email at accounts@strategicgold.com or call us at 239 692-9154 if you have any questions.
- ADDITIONAL RESOURCES:
- Learn more about Form 8938
- Comparison of Form 8938 and FBAR Requirements
Where Do You Keep The Personal Information I Send To You?
Strategic Gold places special importance upon Client confidentiality. All Client information is encrypted and stored on our secure servers. These servers are physically isolated. Redundant backups are stored offsite in a secure facility. To ensure discretion and confidentiality, all statements and transactions are processed on our system by coded Client identification number.
- ADDITIONAL RESOURCES:
- Privacy Policy
Why Do You Ask Customers for Proof Of Identity?
In order to combat money laundering and guarantee the integrity of our business, we have a fiduciary duty to perform Know-Your-Client (KYC) checks on our customers. We seek to ensure that our clients are using our service for the legitimate purpose for which it was intended. Our platform is to provide investors with the simplest, most cost-effective and secure way to invest in gold and silver.
Where there are reasonable reasons to suspect money laundering, we will report this to the relevant authorities in order to safeguard our clients and our firm.
- ADDITIONAL RESOURCES:
- How we treat data about you.
Why Do You Ask Customers for Bank Account Information?
It is the policy of the firm to prohibit and actively prevent money laundering and any activity that facilitates money laundering or the funding of terrorism or criminal activities. Money laundering is generally defined as engaging in acts designed to conceal or disguise the true origins of criminally derived proceeds so that the unlawful proceeds appear to have been derived from legitimate origins or constitute legitimate assets.
For reasons relating to both security and anti money laundering legislation, we require that deposits come from your Bank Account of Record which has been verified by Strategic Gold. For the same reason, Strategic Gold enforces the exit of funds from your Clear Title Account to your Bank Account of Record.
- ADDITIONAL RESOURCES:
- More about your Bank Account of Record.
Who Has Access To My Personal Information?
At Strategic Gold we are focused on delivering complete client satisfaction, which includes respecting client privacy. As part of this approach, clients are not identified by name to partner companies that deliver services to the Clear Title Account Program.
We will protect the confidentiality of your Personal Information. We do not sell, rent or give away Personal Information to anyone. Furthermore, Client information will never be used for marketing purposes or shared with any third-party organization.
We will release your Personal Information only (a) to a person we believe to be you or your authorized representative, (b) to someone else if you provide us with written instructions to do so, (c) to cooperate with law enforcement authorities.
Please feel free to contact an account executive via email at accounts@strategicgold.com or call us at 239 692-9154 if you have any questions about our Privacy Policy.
How Do You Collect, Use And Disclose Client’s Personal Information?
We limit our collection, use and disclosure of Personal Information to what is necessary to run our business and to deliver superior service to you.
We collect, use and disclose your Personal Information for the following purposes:
- 1. to establish and maintain your account;
- 2. to communicate with you about your account and related matters;
- 3. to effect, administer and enforce a transaction involving or related to your account that you request or authorize;
- 4. to identify you in order to protect against fraud and guard against unauthorized access to your account;
- 5. to keep our information about you current and accurate; and
- 6. to facilitate the preparation for distribution of statements.