A gold IRA rollover moves money you already have in a retirement account into a self-directed IRA that can hold physical precious metals. Done correctly, nothing is taxed and nothing is penalized: the money simply changes custodians and changes what it is invested in. Done incorrectly, the IRS can treat the whole amount as a distribution. This guide walks the process end to end so you know what should happen before a salesperson walks you through it.
At a glance
- Eligible accounts: old 401(k), 403(b), 457, TSP, traditional IRA, SEP IRA, SIMPLE IRA (after 2 years)
- Preferred method: direct trustee-to-trustee transfer (no withholding, no 60-day clock)
- Typical timeline: 1 to 3 weeks from application to metals in the depository
- Metals must meet IRS fineness rules and be stored at an approved depository, never at home
- Your largest cost is usually the dealer premium over spot, not the custodian fees
Which accounts can be rolled over
Most tax-advantaged retirement accounts can fund a precious metals IRA. The practical dividing line is whether you still work for the employer sponsoring the plan.
Usually eligible
- 401(k) from a former employer
- 403(b) and 457(b) after separation
- Thrift Savings Plan after separation
- Traditional IRA, Rollover IRA, SEP IRA
- SIMPLE IRA held at least two years
- Roth IRA (into a Roth self-directed IRA)
Usually not eligible yet
- Current employer 401(k), unless the plan allows an in-service distribution
- Active pension benefits still accruing
- Accounts pledged as collateral for a plan loan
- Annuities inside a plan with surrender restrictions
Direct transfer vs indirect rollover
This single choice causes most of the tax problems people run into. The wording matters, so confirm it in writing with both custodians before anything moves.
Direct (trustee-to-trustee)
Funds move custodian to custodian. You never take possession.
- No mandatory withholding
- No 60-day deadline
- No annual once-per-year limit
- Recommended in nearly every case
Indirect (60-day) rollover
The plan pays you, and you redeposit the money yourself.
- Employer plans withhold 20% for taxes
- You must redeposit the full amount, including the withheld 20%, within 60 days
- Miss the window and the shortfall is taxable income, plus 10% if you are under 59 1/2
- IRA-to-IRA indirect rollovers are limited to one per 12 months
If a salesperson tells you to request a check made out to you personally, stop and ask why. A properly structured transfer sends funds directly to the new custodian, payable to the custodian for benefit of your IRA.
The rollover, step by step
Confirm your account is eligible
Call your current plan administrator and ask two questions: is this account eligible for a direct rollover today, and what paperwork do you require? Get the answer before you open anything new.
Open the self-directed IRA
A self-directed IRA custodian (an IRS-approved trust company) holds the account. The metals dealer is not the custodian. You should be told the custodian's name, its fee schedule, and the depository options up front.
Request the direct transfer
The new custodian normally initiates the request with the releasing plan. Confirm in writing that it is a direct trustee-to-trustee transfer and that the check or wire is payable to the custodian, not to you.
Wait for funds to settle
Releasing custodians typically take 5 to 15 business days. Nothing should be purchased before the cash actually lands in the new IRA.
Choose the metals and lock pricing
Ask for the spot price, the premium over spot in dollars and as a percentage, and the total out-the-door cost in writing before you approve the order. This is the step where most of the money is made or lost.
Confirm delivery and titling
Metals ship to the approved depository, not to you. Verify the holdings statement lists the exact products, quantities, and that they are titled to your IRA.
Which metals the IRS allows
| Metal | Minimum fineness | Common eligible products |
|---|---|---|
| Gold | .995 | American Gold Eagle (specifically allowed), Gold Buffalo, Canadian Maple Leaf, approved bars |
| Silver | .999 | American Silver Eagle, Canadian Maple Leaf, approved bars |
| Platinum | .9995 | American Platinum Eagle, approved bars |
| Palladium | .9995 | Approved bars and rounds |
Graded, proof-premium, and collectible numismatic coins are generally not IRA eligible and frequently carry far higher markups. If a dealer steers an IRA conversation toward collectibles, treat it as a warning sign.
What it costs
| Cost | Typical range | Notes |
|---|---|---|
| Account setup | $50 to $100 once | Sometimes waived on larger accounts |
| Annual custodian fee | $75 to $150 | Flat in most cases |
| Storage and insurance | $100 to $300 per year | Flat or a percentage; segregated storage costs more |
| Dealer premium over spot | Varies widely | Usually the largest cost. Ask for it in dollars and as a percentage |
| Buyback spread | Varies widely | Ask what the dealer would pay today for what they are selling you |
Two accounts with identical custodian fees can differ by thousands of dollars purely on premium. Ranges here reflect commonly published dealer and custodian schedules and are illustrative, not quotes. Always confirm current figures in writing.
Mistakes that create tax bills
Realistic timeline
- Day 1 to 2: application and identity verification with the self-directed custodian
- Day 2 to 5: transfer request submitted to the releasing plan
- Day 5 to 20: releasing plan liquidates and sends funds
- Day 1 to 3 after funding: metals priced, ordered, and confirmed
- Day 3 to 10 after purchase: delivery to the depository and holdings statement issued
Seven questions to ask before you sign
Frequently asked questions
What is a gold IRA rollover?
A gold IRA rollover moves funds from an existing retirement account (401(k), 403(b), TSP, or another IRA) into a self-directed IRA that is allowed to hold IRS-approved physical precious metals. The metals are titled to the IRA and stored at an approved depository, not at your home.
Can I roll over a 401(k) into a gold IRA without penalty?
Yes, if the transfer is done correctly. A direct (trustee-to-trustee) transfer moves the money between custodians without the funds passing through your hands, so there is no withholding and no 60-day clock. An indirect rollover pays you first and must be redeposited within 60 days or the distribution becomes taxable, with a 10% additional tax if you are under 59 1/2.
How long does a gold IRA rollover take?
Most direct transfers settle in about 1 to 3 weeks. Opening the self-directed IRA takes a day or two, the releasing custodian typically needs 5 to 15 business days to send funds, and metal purchase and delivery to the depository adds a few more days.
What does a gold IRA rollover cost?
Expect a one-time account setup fee (roughly $50 to $100), an annual custodian fee (roughly $75 to $150), annual storage and insurance (roughly $100 to $300 or a percentage of assets), and, most importantly, the dealer premium above spot on the metals themselves. The premium is usually the largest cost and varies widely between dealers.
Which metals are allowed in a gold IRA?
The IRS requires minimum fineness: gold .995, silver .999, platinum .9995, and palladium .9995. American Gold Eagles are specifically permitted despite being .9167 fine. Collectible and graded numismatic coins generally are not eligible.
Can I store gold IRA metals at home?
No. IRA-held metals must be held by an approved trustee or depository. Home storage arrangements marketed as home storage or checkbook gold IRAs put the account at risk of being treated as a taxable distribution.
Can I roll over a 401(k) from my current employer?
Usually not while you are still employed there, unless the plan allows an in-service distribution (often at age 59 1/2). Old employer plans, most 403(b) and 457 plans, the TSP after separation, and traditional or SEP IRAs are typically eligible.
Continue your research
This guide is general educational information, not tax, legal, or investment advice. Rules, fees, and product eligibility change. Confirm current requirements with your plan administrator, your custodian, and a qualified tax professional before initiating a rollover.