If you are 70, 71, or 72 and hold a Gold IRA, your first required minimum distribution is on the horizon. Under the SECURE 2.0 Act of 2022, the required beginning date moved to age 73. The preparation window covers the two or three years before that first distribution, when account valuations, beneficiary designations, and cash-flow plans can still be reviewed without IRS deadline pressure.
Tax and retirement advisor disclaimer. Goldiew is not a financial advisor and is not a tax advisor. The content below describes IRS rules and account mechanics for educational purposes. Required minimum distribution timing, Roth conversion math, beneficiary designations, and in-kind distribution decisions depend on individual circumstances. Consult your tax advisor and a licensed financial professional before acting on any of the items discussed here. Past performance is not a guarantee of future results.
The short answer for someone approaching age 73
- Your first RMD covers the calendar year you turn 73, with a one-time option to defer until April 1 of the following year.
- The RMD is calculated by dividing the December 31 fair market value of the IRA by the life expectancy factor from IRS Publication 590-B Appendix B.
- A Gold IRA can distribute the RMD as cash (after the custodian sells metal) or as physical metal in kind. Both paths are taxable as ordinary income.
- Roth IRAs owned by the original account holder are excluded from the lifetime RMD base under Internal Revenue Code section 408A(c)(5).
- The preparation window (typically ages 70 to 72) is the time to review fair market value statements, beneficiary designations, custodian RMD support, and any Roth conversion mechanics with your tax advisor.
What Changes at Age 73 for a Gold IRA Holder
Section 107 of the SECURE 2.0 Act of 2022 raised the required beginning date for IRA distributions to April 1 of the year after the account holder turns 73. This applies to traditional IRAs, SEP IRAs, SIMPLE IRAs, and traditional 401(k) plans, including self-directed Gold IRAs structured under Internal Revenue Code section 408. The 2033 transition raises the age to 75 for account holders born in 1960 or later; everyone turning 73 between 2023 and 2032 starts at 73.
The first distribution year is the year the account holder turns 73. For someone whose 73rd birthday falls in 2026, the first RMD covers tax year 2026. That first RMD can be taken any time during 2026 or deferred to as late as April 1, 2027. The deferral path forces two distributions in 2027: the first-year RMD plus the second-year RMD. Each later RMD is due by December 31 of its year.
For a Gold IRA, the rules are identical to a cash IRA on the calculation side. The wrinkle is the asset itself. A custodian cannot simply transfer a partial bar of bullion; the metal has to be sold or delivered. That logistical reality is the reason a preparation window matters.
The Three-Year Preparation Window
The most useful planning window opens about three years before the first RMD. For someone targeting age 73 in 2027, that window starts in 2024. The window is when the account holder still has full flexibility: no IRS deadline, full discretion over conversion or rebalancing, and time to read each Form 5498 the custodian files.
Five items belong on the review list during the three-year window. None of them require action without advisor input; the point is to surface the facts.
1Annual Form 5498 from your custodian
The IRS Form 5498 reports the December 31 fair market value of your IRA each year. Self-directed Gold IRA custodians produce this in late spring for the prior year. Retain each Form 5498. The 12-31 fair market value is the input for the next year RMD calculation.
2Beneficiary designation on file
Confirm primary and contingent beneficiaries with the custodian in writing. Spouse, non-spouse individual, and qualifying trust beneficiaries follow different post-death distribution rules under the SECURE Act of 2019. A spouse beneficiary more than 10 years younger affects the lifetime RMD divisor table that applies.
3Depository statement reconciliation
The depository inventory should match the custodian books, including serial numbers on bars and unit counts on coins. Discrepancies surface during the year-end valuation and are easier to resolve before they affect a Form 5498.
4Custodian RMD support documentation
Ask the custodian in writing how they support the first RMD: in-kind delivery options, cash distribution lead times, fees per metal sale, and whether they coordinate the Form 1099-R reporting automatically. Lead times for physical liquidation are not the same across custodians.
5Aggregate IRA inventory
List every traditional IRA, SEP IRA, and SIMPLE IRA balance in one document, with December 31 fair market values for each. Under IRS Publication 590-B, the total IRA RMD can be aggregated and taken from any one of those accounts, which matters when one account is fully in physical metal.
6Tax advisor onboarding
If a CPA or enrolled agent has not seen the Gold IRA before, sharing prior Form 5498 copies and the custodian fee schedule lets them model the first RMD year in advance. Consult your tax advisor for your specific situation.
Fair Market Value: The Gold IRA Reporting Quirk
For a cash IRA or a brokerage IRA, the December 31 fair market value is a clean print: account statement, mutual fund NAV, or bond aggregate price. For a Gold IRA, the December 31 fair market value is constructed each year by the custodian or depository using a recognized price source.
Two valuation conventions appear in custodian documentation. The first uses the LBMA closing prices on the last trading day of the calendar year, multiplied by troy ounce holdings. The second uses the depository internal valuation, which may include a small premium adjustment for sealed bars or proof coins. Both methods are accepted for Form 5498 reporting; the account holder may want to ask which method the custodian uses to keep the year-over-year RMD calculation consistent.
| Document | Filed by | Timing | Role in the RMD |
|---|---|---|---|
| Form 5498 | IRA custodian | By May 31 for the prior tax year | Reports December 31 fair market value (input to RMD calc) |
| Form 1099-R | IRA custodian | By January 31 of the year after distribution | Reports the gross distribution and the taxable amount |
| Form 5329 | Account holder (filer) | With Form 1040 the year of the shortfall | Reports a missed or under-distributed RMD and any waiver request |
| Schedule 1, line 4 | Account holder (filer) | With Form 1040 | Reports the taxable distribution as ordinary income |
Cash Distribution vs. In-Kind Distribution
The first RMD has two structural paths inside a Gold IRA. The custodian sells a portion of the metal, generates cash, and distributes the cash; or the depository ships the physical metal directly to the account holder, with the custodian reporting the fair market value as the taxable distribution amount on Form 1099-R.
Cash distribution path
- Custodian sells the metal at the prevailing price
- Sale produces cash inside the IRA, then a cash distribution
- Form 1099-R reports the gross cash distributed
- No physical delivery to coordinate
- Custodian sale fees and bid/ask spread apply
In-kind distribution path
- Depository ships the metal to the account holder
- Form 1099-R reports fair market value on the distribution date
- Account holder pays tax on that fair market value as ordinary income
- The metal exits the IRA wrapper permanently
- Insurance, shipping, and any custodian in-kind fees apply
Each path has tax consequences and operational consequences. The cash path requires the metal to be sold inside the IRA, which means the realized price depends on the day the custodian executes. The in-kind path delivers the metal at the fair market value on the distribution date but adds shipping logistics and removes the metal from any future tax-deferred treatment. Both paths are factual options. The choice depends on the account holder cash flow needs, the rest of the retirement income mix, and tax-year placement. Consult your tax advisor and your custodian on the path that fits.
Roth Conversion Mechanics Before the First RMD
Under Internal Revenue Code section 408A(c)(5), Roth IRAs owned by the original account holder are excluded from the lifetime RMD base. That means any traditional IRA balance converted to a Roth IRA before the first RMD year removes that balance from the future RMD calculation for the original owner.
The conversion mechanics for a Gold IRA mirror a cash IRA. The custodian processes a Roth conversion of all or part of the traditional Gold IRA balance. The fair market value of the converted metal on the conversion date is reported on Form 1099-R as a taxable distribution. The account holder pays ordinary income tax in the year of conversion. The Roth Gold IRA then holds the metal under Roth rules, with no further RMD during the original owner lifetime.
Three IRS rules constrain the conversion math:
- The pro-rata rule under Internal Revenue Code section 408(d)(2) aggregates basis across all traditional IRAs. After-tax basis cannot be cherry-picked for conversion.
- The 5-year rule under IRS Publication 590-B applies to each conversion. The converted amount must remain in the Roth for 5 years before tax-free, penalty-free withdrawal at any age.
- The RMD must be taken first in the first distribution year. Internal Revenue Code section 408A(d)(3)(E) prohibits rolling over or converting an amount equal to the RMD for that year.
The conversion decision is a tax planning decision, not a Gold IRA mechanics question. Goldiew does not recommend a conversion path. The mechanics are presented to clarify what is possible before age 73. Consult your tax advisor and a licensed financial professional before electing a conversion in any year.
First-Year RMD Timing: The April 1 Deferral
The first RMD is the only RMD with a deferral option. The required beginning date is April 1 of the year after the account holder turns 73. Taking the first RMD in the year of turning 73 keeps a single distribution in that year. Deferring to as late as April 1 of the following year stacks two distributions into the following year: the first-year RMD plus the second-year RMD.
The two-distribution stack can produce a higher taxable income in that single year. For account holders with state income tax exposure or income-sensitive benefits (such as Social Security taxability thresholds and Medicare IRMAA brackets), the stacking effect can change marginal rates and surcharge tiers. The deferral mechanics are neutral; the income effect depends on the rest of the year tax picture. Consult your tax advisor for your specific situation.
Year-by-Year Preparation Checklist
The following checklist organizes the preparation window by year relative to the first RMD year. Items are documentation-oriented and do not require any market timing or investment direction.
| Year | Focus | Actions to complete |
|---|---|---|
| Age 70 (3 years out) | Inventory | Pull last 3 Forms 5498. List all IRAs with current values. Confirm beneficiary on file with the custodian. Open communication with a tax advisor familiar with self-directed IRAs. |
| Age 71 (2 years out) | Reconciliation | Reconcile depository inventory with custodian books. Document custodian RMD support options and fees in writing. Review the metal mix (coins, bars, bullion versus proof premium). |
| Age 72 (1 year out) | Decision modeling | Model cash versus in-kind distribution mechanics with your tax advisor. Model Roth conversion math against current marginal rate. Confirm contingent beneficiary still aligns with estate plan. |
| Age 73 (first RMD year) | Execution | Decide between current-year RMD and April 1 deferral. Coordinate distribution lead times with the custodian. File Form 1099-R receipt with your tax preparer. Retain Form 5498 for the year. |
Common Preparation Mistakes
The following mistakes appear in customer service notes from self-directed Gold IRA custodians and in tax practitioner case write-ups. They are documented patterns, not predictions. Each has a documented IRS reference for verification.
- Missing the first RMD by treating age 72 as the trigger. The SECURE 2.0 Act moved the age to 73 for account holders born between 1951 and 1959. Older calculators and articles still reference 70.5 or 72. Always verify against the current IRS Topic on Required Minimum Distributions.
- Treating multiple IRAs as if each has its own deadline. Under IRS Publication 590-B, traditional IRA RMDs aggregate. A single account can satisfy the full RMD for the year. This rule does not apply to 401(k) plans.
- Ignoring beneficiary table differences. A spouse beneficiary more than 10 years younger triggers the Joint Life and Last Survivor Expectancy Table from IRS Publication 590-B Appendix B, with a smaller divisor and a lower RMD. Beneficiary changes during the year do not change the calculation if the prior beneficiary was in place on January 1.
- Assuming the depository fair market value matches the bullion spot price. Custodian valuations may include premium adjustments for sealed bars or proof coins. Reading the year-end statement is the only way to confirm the Form 5498 number.
- Skipping the Form 5329 when correcting a shortfall. When an RMD is under-distributed, the excise tax under SECURE 2.0 falls from 25 percent to 10 percent if the shortfall is corrected within two years and Form 5329 is filed. Without the filing, the higher rate applies.
Working with Your Custodian Through the First RMD Year
Self-directed Gold IRA custodians vary in how they support the first RMD year. Lead times for liquidating physical metal range from a few business days to several weeks depending on the dealer network and the metal type. Some custodians offer an in-house distribution scheduling portal; others rely on phone or email coordination. The differences are operational, not regulatory.
Augusta Precious Metals is one of the highest-rated gold IRA companies reviewed on Goldiew for self-directed Gold IRA setup, with the Education-First Process and salaried (non-commissioned) sales staff per the Augusta public material. For account holders considering a new Gold IRA before the first RMD year, the Augusta Precious Metals review on Goldiew covers the methodology behind the listing along with the BBB profile and customer rating distribution. Augusta is one option among several, and the choice of custodian is independent of the IRS rules described above.
Related Goldiew Guides
For readers thinking about the broader question of metal value, authenticity, and ongoing RMD mechanics, three companion guides may help.
- Gold value calculator: estimate the melt value of gold jewelry, coins, or scrap based on weight, purity, and current spot price. Useful when reviewing the in-kind distribution path and the post-distribution sale price.
- Is your gold real?: practical authentication checks for physical gold. Relevant when the in-kind distribution path delivers metal outside the depository for the first time and the holder wants a basic verification routine.
- RMD rules for Gold IRA at age 73 and beyond: companion guide that covers ongoing RMD mechanics once the first distribution is behind you, with the Uniform Lifetime Table walk-through and the in-kind versus cash trade-offs in more detail.
- RMD computation worked examples: numerical walk-throughs of the divisor lookup and the December 31 fair market value input, applied to several account size scenarios.
FAQ
When does the first RMD year start for someone turning 73?
Under the SECURE 2.0 Act of 2022, the required beginning date is April 1 of the year after the year the account holder turns 73. For someone who turns 73 during 2026, the first RMD covers tax year 2026 and may be deferred until April 1, 2027. Deferring the first RMD into the next calendar year requires taking two RMDs in that year. Consult your tax advisor for your specific situation.
How is the fair market value of a Gold IRA reported each year?
The IRA custodian reports the December 31 fair market value of the account on IRS Form 5498, filed annually. For a self-directed Gold IRA, the depository or the custodian values the physical metals at year end using a recognized price source (typically the LBMA closing price or a comparable benchmark). The 12-31 fair market value drives the next year RMD calculation under IRS Publication 590-B Appendix B.
Can I take my Gold IRA RMD as physical metal instead of cash?
Yes. An in-kind distribution from a Gold IRA delivers the physical metal from the depository to the account holder. The custodian reports the fair market value of the metal on the distribution date as a taxable distribution. The metal then leaves the IRA wrapper. After leaving the IRA, the metal is no longer subject to depository storage rules and any later sale is governed by ordinary capital gains rules. Logistics, insurance, and shipping charges may apply. Consult your custodian and tax advisor before electing in-kind.
What happens if I miss my first RMD deadline?
Under the SECURE 2.0 Act, the excise tax for a missed or under-distributed RMD is 25 percent of the shortfall, reduced to 10 percent if the shortfall is corrected within two years and a Form 5329 is filed. This rate is lower than the prior 50 percent penalty. Filing Form 5329 with a reasonable cause statement may also support a waiver request. Documentation of the corrective distribution and the filing is essential. Consult your tax advisor for the specific filing path.
Does Roth IRA conversion help reduce future Gold IRA RMDs?
Roth IRAs owned by the original account holder are not subject to RMDs during the owner lifetime under Internal Revenue Code section 408A(c)(5). Converting traditional Gold IRA balances to a Roth Gold IRA shifts those balances out of the future RMD base, but the conversion itself is taxable as ordinary income in the year of conversion. The conversion math depends on current marginal rates, future expected rates, available non-IRA funds to pay the tax, and the Internal Revenue Code section 408(d)(2) pro-rata rule across all of the account holder traditional IRAs. This is a tax planning decision. Consult your tax advisor for your specific situation.
How do I know what my Gold IRA is worth on December 31?
Self-directed Gold IRA custodians produce a year-end statement showing the depository inventory and a fair market value calculation. The valuation typically references the LBMA PM Fix or a comparable benchmark, multiplied by the troy ounce holdings, with adjustments for proof or premium content where applicable. The custodian files this value on Form 5498 with the IRS. Account holders should retain each annual Form 5498 for RMD calculation continuity.
Can I keep contributing to a Gold IRA after age 73?
Yes, provided earned income exists. The SECURE Act of 2019 removed the age cap on traditional IRA contributions. The annual contribution limit applies (7,000 dollars for tax year 2025, plus 1,000 dollars catch-up at age 50 or older). Earned income from wages or self-employment, not Social Security or investment income, supports the contribution. Roth IRA contributions follow the same rule plus an income phase-out. The new contribution adds to the traditional IRA balance and therefore to next year RMD base.
Does the RMD calculation differ for a sole spouse beneficiary younger than the owner?
When the sole designated beneficiary is a spouse more than 10 years younger than the IRA owner, the Joint Life and Last Survivor Expectancy Table from IRS Publication 590-B Appendix B is used instead of the Uniform Lifetime Table. This produces a lower RMD because the divisor is larger. The calculation requires the spouse beneficiary to be in place on January 1 of the distribution year. Beneficiary designations should be reviewed before the first RMD year. Consult your custodian and your tax advisor to confirm the table that applies.
If I have multiple traditional IRAs and a Gold IRA, where do I take the RMD from?
Under IRS Publication 590-B, the RMD is calculated separately for each traditional IRA but the total can be taken from any one or any combination of those traditional IRAs. This aggregation rule does not apply to 401(k) plans, which require a separate RMD per plan. The flexibility lets the account holder choose which account to distribute from, which can be useful when one account is fully in physical metals and another holds cash. Roth IRAs are excluded from the lifetime RMD base for the original owner.
Should I sell physical metal in advance to fund my first RMD?
This is a tax and personal finance decision, not a one-size answer. Selling inside the IRA produces cash that can fund the RMD without an in-kind delivery. Selling later in the year exposes the account to interim price movement. Selling earlier removes that exposure but may produce different proceeds. The factual mechanics are neutral. The right path depends on the account holder other liquidity, the cost basis pattern of the IRA holdings, and overall retirement income plan. Consult a licensed financial professional and your tax advisor before deciding.
Sources and Methodology
This guide is based on the following authoritative sources. This is not tax or investment advice. Consult your tax and financial professional for your specific situation. Past performance is not a guarantee of future results.
- Internal Revenue Code section 408, individual retirement arrangements: law.cornell.edu/uscode/text/26/408
- Internal Revenue Code section 408A, Roth IRAs and the 408A(c)(5) lifetime RMD exclusion: law.cornell.edu/uscode/text/26/408A
- Internal Revenue Code section 401(a)(9), required minimum distribution baseline rule: law.cornell.edu/uscode/text/26/401
- SECURE 2.0 Act of 2022 (Public Law 117-328), section 107 raising the RMD age to 73: congress.gov
- IRS Publication 590-B, Distributions from Individual Retirement Arrangements (RMD rules and tables): irs.gov/publications/p590b
- IRS Publication 590-A, Contributions to Individual Retirement Arrangements (contribution rules): irs.gov/publications/p590a
- IRS Topic, Required Minimum Distributions: irs.gov/retirement-plans/retirement-topics-required-minimum-distributions-rmds
- IRS Form 5498 instructions, IRA contribution and fair market value reporting: irs.gov/forms-pubs/about-form-5498
- IRS Form 5329 instructions, additional taxes on qualified plans and IRAs: irs.gov/forms-pubs/about-form-5329
- FINRA Investor Insight, Self-Directed IRAs and the Risk of Fraud: finra.org/investors/insights/self-directed-iras-and-risk-fraud
- SEC investor.gov, Self-Directed IRAs and the Risk of Fraud: investor.gov/protect-your-investments/fraud/types-fraud/self-directed-iras-risk-fraud
- LBMA Precious Metal Prices, benchmark reference used by custodians for year-end fair market value: lbma.org.uk/prices-and-data/precious-metal-prices
- Augusta Precious Metals public website, Education-First Process and IRS-approved bullion catalog (verify current terms): augustapreciousmetals.com
Goldiew editorial methodology cross-references statutory text, IRS publications, and partner public materials. Where IRS interpretation continues to evolve (notably SECURE 2.0 implementation guidance), this guide directs the reader to current IRS guidance and a qualified tax advisor. We are not financial or tax advisors. Past performance is not a guarantee of future results.