Gold IRA FAQ

A Gold IRA is a type of self-directed individual retirement account (IRA) that allows for the inclusion of certain physical precious metals.

Gold must have a minimum purity of 99.5% and silver a minimum of 99.9% to qualify for inclusion in a self-directed IRA. Eligible options may include certain government-minted bullion, proof coins, and other metals such as platinum and palladium.

Gold IRAs are a type of self-directed IRA designed specifically to hold precious metals. Other types of self-directed IRAs may allow for alternative assets, depending on the custodian.

The IRS permits certain precious metals to be held in self-directed IRAs that meet specific purity and storage requirements. Proof coins must meet these criteria to qualify.

In general, qualified transfers or rollovers from one retirement account to a self-directed IRA can be completed without triggering taxes or penalties.

The minimum investment to open a Gold IRA is $5000 to $10000, depending on the custodian’s requirements.

Annual contribution limits are set by the IRS and may vary based on your age and income. Individuals completing partial transfers often evaluate how much to move based on their financial strategy.

Distributions from a self-directed IRA can generally be taken without penalty after age 59½. Early withdrawals may be subject to penalties unless an exception applies. Required minimum distributions (RMDs) apply to Traditional IRAs beginning at age 73 (updated from 70½ under current law). Roth IRAs do not have RMDs during the account holder's lifetime, and qualified distributions are tax-free after five years.

Once your application is completed, an account number is typically assigned within 48 to 72 hours. The full process, including funding and asset selection, often takes up to two weeks. A representative can assist with the necessary documentation and steps.