Frequently Asked Questions

Is a custodian required?

Just like any IRA, a precious metal / Gold IRA an only be opened with a custodian approved by the IRS. Since this is a tax-deferred account, the main benefit of an IRA, you are required to obtain services of an approved custodian..

How can I invest gold into an IRA?

The process is straightforward and simple. You first open a self-directed IRA with an approved custodian or roll over an existing retirement account. Once you have opened and funded this new gold IRA, you can then purchase gold from a dealer to place in the account.  Any one of our recommended Gold IRA firms will help you with this.

Can I convert a current 401(k) plan to a gold IRA?

Only a 401(k) from a prior employer can be converted, or you need to be over 59 years old to be qualified for an account rollover.

Can I have precious metals other than Gold like in my IRA?

Yes, you can hold silver, platinum or palladium in your IRA in addition to, or instead of, physical gold.

Can I transfer or rollover my existing IRA to a gold backed IRA?

Yes, and in fact, most people prefer doing it this way. Take a look into our page that discuss this in more detail at IRA rollovers into gold.

Can I take my distributions in actual gold instead of liquidizing to cash?

You can always elect for cash or non-cash distributions instead of physical product. However, distributions will be taxable, meaning that you will be required to either liquidate the gold to pay taxes or to pay taxes from your personal account.  Do not forget to consider the tax implications on cash and non-cash withdrawals.

What are other forms of Gold investment for my account?

Other than physical gold, you can have gold ETF or stocks/shares in gold mining companies included in your IRA account.

Can I incorporate other types of investments into my existing Gold IRA?

Yes. You are still free to invest in other assets, including shares, real estate, commodities and more.

Can I simply transfer/rollover part of my existing IRA/plan?

Yes. Many do this to get a feel for how the process works.  You don’t need to transfer your entire account as a whole.

Do I need to pay Penalties or Taxes when Transferring?

No. If done in the proper way within the allotted time, transferring or rolling over traditional IRA to gold IRA is free of penalties and taxes.

Are there fees involved on the rollover or opening a new gold IRA?

There are, but it depends on which companies you select for your IRA rollover. We recommend you select those that charge a flat annual fee instead of scaled charges so you don’t need to pay more when your account grows going forward. Some firms do waive the first year fee as well.

Can I physically keep the gold?

No, not until your age reaches 59 ½. By then,  your gold has to be stored at an IRS approved & insured depository under your name. Feel free to find out more rules on gold IRA here on our site.