Distribution of Gold and Silver

[imchipbrown]

Dentist client is taking RMDs from the Plan. The Plan holds 17 Krugerrands (market valued) and "100 Silver Dollars" (valued at spot silver prices).

If Dentist were to take distribution of this gold and silver as part of his RMD, the remaining assets could be rolled to a generic IRA and the Plan terminated.

The "market value" is less than the RMD amount.

The question is "How do we establish that the assets have changed hands from the Plan to the Participant?" Appraisal? 1099-R filing?. I'd like to make sure the Dentist is credited with taking the full amount of the RMD (some cash plus the gold and silver).

[QDROphile]

The plan reports a distribution on Form 1099-R and the trust records show no Kruggerands or silver dollars after the distribution. How the plan arrives at a value to report for the tangible assets is a different question, which you seem to anticipate by mentioning an appraisal. I assume the Kruggerands are grandfathered so they are legal assets.