The Gold IRA Rules in Brief
| Rule | What It Means |
|---|---|
| Self-directed IRA required | Physical metals need a custodian that allows them |
| Purity standards | Gold 99.5%, silver 99.9%, platinum and palladium 99.95% (American Gold Eagle excepted) |
| Approved storage | Metals must be held by the trustee or custodian, not at home |
| 2026 contribution limit | $7,500; $8,600 if 50 or older (shared across all IRAs) |
| Rollovers | Direct transfers unlimited; one indirect IRA rollover per 12 months; 60-day deadline |
| Early withdrawals | Generally a 10% penalty before age 59½, plus income tax on traditional accounts |
| Required minimum distributions | From age 73 for traditional gold IRAs; none for Roth owners |
| Prohibited transactions | No personal use of IRA metals or dealings with disqualified persons |
Rule 1: You Need a Self-Directed IRA
Most brokerage IRAs only hold stocks, bonds, and funds. To own physical bullion, you need a self-directed IRA with a custodian that handles precious metals. The custodian administers the account and reports to the IRS. Learn more about gold IRA custodians.
Rule 2: Only Certain Metals Qualify
The tax code treats most collectibles bought with IRA money as distributions. Bullion is an exception if it meets fineness standards set for regulated futures contracts and is held by the trustee:
- Gold: at least 99.5% pure
- Silver: at least 99.9% pure
- Platinum and palladium: at least 99.95% pure
Certain U.S. Mint coins are specifically allowed, including the American Gold Eagle, which is 91.67% gold. Rare, proof, and collectible coins generally aren't. See IRS-approved gold.
Rule 3: Metals Must Stay in Approved Storage
The bullion exception only applies when the metals are in the physical possession of the trustee. In the 2021 Tax Court case McNulty v. Commissioner, an IRA owner who kept IRA-purchased coins at home through an LLC was treated as having taken taxable distributions. That's why "home storage gold IRA" pitches are risky. Read gold IRA storage.
Rule 4: Contribution Limits
| Account | 2026 Limit | Age 50+ Catch-Up |
|---|---|---|
| Traditional and Roth IRA (combined) | $7,500 | +$1,100 |
| SEP IRA | 25% of compensation, up to $72,000 | None |
| 401(k), 403(b), 457(b), TSP (for comparison) | $24,500 | +$8,000; +$11,250 at ages 60–63 |
Rollovers and transfers don't count toward IRA contribution limits, which is why most gold IRAs are funded that way. Roth IRA contributions also have income limits.
Rule 5: Rollover and Transfer Rules
- Direct transfers between IRA custodians are unlimited and not taxed.
- Direct rollovers from employer plans avoid withholding.
- Indirect rollovers must be completed within 60 days. Employer plans withhold 20%, which you must replace from other funds to roll over the full amount.
- One indirect IRA-to-IRA rollover is allowed per 12 months across all your IRAs.
Details for each account type are in our gold IRA rollover guide.
Rule 6: Withdrawals and Penalties
Withdrawals from a traditional gold IRA are taxed as ordinary income. Before age 59½, a 10% additional tax generally applies unless an exception fits. You can take a distribution in cash (the custodian sells the metals) or in kind (metals shipped to you). In-kind distributions are taxed on the metals' fair market value at the time.
Rule 7: Required Minimum Distributions
Traditional gold IRAs are subject to RMDs starting at age 73 under current law. You can satisfy them by selling metal or taking metal in kind. Because metal can't be split into small amounts easily, plan RMDs ahead, especially if most of your IRA is in metals. Roth IRAs have no RMDs for the original owner.
Rule 8: Prohibited Transactions
You can't use IRA metals for your own purposes, store them at home, sell your own metals to your IRA, or buy IRA metals from family members or other disqualified persons. Violations can disqualify the entire IRA and make its full value taxable.
Rule 9: Reporting and Valuation
Your custodian reports your IRA's fair market value to the IRS each year on Form 5498, using current metal prices. Distributions are reported on Form 1099-R. If you take metal in kind, its value on that date is the taxable amount for a traditional IRA.
Rule 10: Beneficiaries and Inheritance
Name beneficiaries on your gold IRA just like any other IRA. Under current rules, most non-spouse beneficiaries must empty an inherited IRA within 10 years. Spouses usually have more options, including treating the IRA as their own. Heirs can sell the metals or take them in kind, with traditional IRA distributions taxed as income.
How Our Top Picks Keep You Within the Rules
Reputable gold IRA companies only sell IRA-eligible products for IRA accounts and ship them to approved depositories. Augusta Precious Metals coordinates with the custodian and arranges shipping to storage, and its FAQ explains distributions in cash or metal. Noble Gold separates its IRA-eligible products from cash-only items like Royal Survival Packs. Both companies are compared with Goldco, Birch Gold, and others in our ranking.
Frequently Asked Questions
Can I Store My Gold IRA at Home?
No. IRA bullion must be held by the trustee or custodian at an approved depository. Home storage can be treated as a taxable distribution.
How Much Can I Put in a Gold IRA in 2026?
New contributions are capped at $7,500 ($8,600 at 50+) across all IRAs, but rollovers and transfers have no dollar limit.
When Do Gold IRA RMDs Start?
At age 73 for traditional gold IRAs under current law.
Are Gold Coins Like Krugerrands Allowed?
No. The South African Krugerrand is 91.67% gold and doesn't qualify. The American Gold Eagle is allowed by a specific exception in the law.
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