Publication 590-A covers eligibility, the 2025 contribution cap of $7,000 per person, deductibility thresholds, and the rollover mechanics that move funds from a 401(k), 403(b), 457(b), or existing IRA into a self-directed account. It does not address precious metals eligibility. Those rules live in IRC §408(m)(3) and must be read alongside 590-A. SECURE Act 2.0 (P.L. 117-328) confirmed the elimination of the upper age cap on traditional IRA contributions for anyone with qualifying compensation.
IRS Publication 590-A governs contributions to Individual Retirement Arrangements (IRAs): eligibility, annual limits, deductibility thresholds, and rollover mechanics. For gold IRA investors, the rollover chapter carries the most operational weight. It controls how money moves from a 401(k) or existing IRA into a self-directed IRA that will hold physical precious metals. Pub 590-A does not address gold-specific asset requirements. Those rules live in IRC §408(m)(3) and work alongside 590-A.
What IRS Publication 590-A Covers
IRS Publication 590-A, “Contributions to Individual Retirement Arrangements (IRAs),” is one half of the IRS’s two-part IRA guide. Publication 590-A covers the funding side. Publication 590-B covers distributions, required minimum distributions (RMDs), and inherited IRA rules. Together they describe the full lifecycle of an IRA. Gold IRA investors need both, but 590-A is the starting point for anyone opening a new self-directed account or rolling over a 401(k).
The current edition of Publication 590-A addresses five broad areas:
- Traditional IRA contributions: who can contribute, annual limits, and whether those contributions are deductible on your federal return
- Roth IRA contributions: income-based eligibility and limits that differ from traditional IRAs
- Rollovers and transfers: the mechanics of moving funds from employer-sponsored plans (401(k), 403(b), 457(b), TSP) or from an existing IRA into a new IRA, without triggering taxes
- SEP and SIMPLE IRAs: higher limits for self-employed individuals and small business owners
- Recharacterizations: switching contributions between traditional and Roth accounts under the rules set by the Tax Cuts and Jobs Act
What the publication does NOT cover: the rules that make gold IRAs possible. Those come from Internal Revenue Code §408(m)(3), which carves out an exception to the general prohibition on IRAs holding collectibles. No IRS publication spells out the purity standards or approved coin types. Investors must read the statute itself alongside Pub 590-A. The relevant cross-references appear later in this guide.
Who Can Contribute to a Traditional IRA
Publication 590-A opens with eligibility. Before asking how much you can contribute or whether it is deductible, the IRS requires that you confirm you qualify to make any contribution at all.
The Compensation Requirement
Contributing to a traditional IRA requires taxable compensation for the year (per IRS Pub 590-A, Chapter 1, “What Is Compensation?”). The IRS defines qualifying compensation as wages, salaries, commissions, self-employment income, alimony (under pre-2019 divorce agreements), and a few other earned-income categories.
Income that does NOT count as compensation: dividends, interest income, rental income, pension distributions, annuity payments, and Social Security benefits. This distinction matters for retirees considering a gold IRA. A retired investor whose sole income is Social Security and a pension cannot make new IRA contributions, regardless of savings level. One dollar of qualifying earned income, such as consulting fees or part-time wages, restores eligibility up to the annual limit or total earned income, whichever is less.
Spousal IRAs are an exception. A working spouse with compensation can contribute to a non-working spouse’s IRA, provided the couple files a joint return. The working spouse’s compensation must cover both contributions (per IRS Pub 590-A, Chapter 1, “Spousal IRA”).
Age Rules After SECURE Act 2.0
Under the original IRA rules, contributions to a traditional IRA stopped at age 70½. The original SECURE Act (Public Law 116-94, 2019) removed that cap. SECURE Act 2.0 (Public Law 117-328, signed December 29, 2022) confirmed the elimination. There is now no upper age limit on traditional IRA contributions, as long as the contributor has qualifying compensation (per IRS Pub 590-A, “Age Limit Repealed”).
For investors in their early 70s who are still earning consulting or part-time income: they can continue funding a self-directed gold IRA each year. Required minimum distributions (which begin at age 73 or 75 depending on birth year under SECURE 2.0) are governed by Publication 590-B, not 590-A.
Annual IRA Contribution Limits
The Standard Annual Limit
For tax year 2025, the annual IRA contribution limit is $7,000 per person (per IRS Retirement Topics: IRA Contribution Limits and IRS Pub 590-A, “How Much Can Be Contributed?”). This limit applies to the total across all your IRAs combined. Holding a traditional IRA, a Roth IRA, and a self-directed gold IRA simultaneously does not triple the limit. Total contributions across all three accounts cannot exceed $7,000 in the tax year.
The contribution is also capped at your actual taxable compensation for the year. An investor who earned $4,500 from part-time consulting work can contribute a maximum of $4,500 to an IRA, not $7,000.
Check IRS.gov for the current tax year limit before contributing. The IRS adjusts limits annually based on cost-of-living factors.
Catch-Up Contributions for Investors 50 and Older
Investors aged 50 and older may contribute an additional $1,000 above the standard limit each year, for a total of $8,000 per tax year (per IRS Pub 590-A, “Additional Contribution Permitted for Those Age 50 and Older,” and IRC §219(b)(5)(B)). This catch-up amount is not indexed to inflation for traditional and Roth IRAs; it has remained at $1,000 since 2006.
A note on employer plans vs. IRAs: SECURE Act 2.0 increased the 401(k) catch-up contribution for investors aged 60-63 to $11,250 for 2025. That enhanced rate does not extend to traditional or self-directed IRAs. The IRA catch-up remains $1,000 regardless of age once the 50-plus threshold is met.
Contribution Deadlines
IRA contributions for a given tax year can be made from January 1 of that year through the federal tax filing deadline of the following year, typically April 15 (per IRS Pub 590-A, “When Can Contributions Be Made?”). Extensions on your return do not extend the IRA contribution deadline. An investor who receives a six-month filing extension still must make their IRA contribution by April 15.
This creates a practical window: contributions made between January 1 and April 15 must be designated to the prior year or current year at the time of deposit. The custodian will ask. Rollovers from employer plans are separate events not subject to this annual contribution calendar.
Deductibility Rules Gold IRA Investors Often Get Wrong
Publication 590-A’s deductibility section is where most traditional IRA investors stumble. Whether a contribution reduces your taxable income depends on two variables: whether you (or your spouse) are covered by a workplace retirement plan, and your modified adjusted gross income (MAGI) for the year.
For gold IRA investors, deductibility is most relevant to those making new annual contributions rather than rolling over an existing 401(k). Rollovers are not deductible contributions; they are transfers of already-tax-advantaged funds and require no deductibility calculation.
When Contributions Are Fully Deductible
Two situations allow a full deduction with no income ceiling (per IRS Pub 590-A, “Are You Covered by an Employer Plan?”):
- Neither you nor your spouse is covered by a workplace retirement plan for any part of the tax year
- Your spouse is covered by a workplace plan, but your household MAGI falls below the start of the non-covered-spouse phase-out range
Self-employed investors who have established no separate employer-sponsored plan, and whose only retirement account is a self-directed gold IRA, often qualify for the full deduction if their income falls within the applicable range. A CPA familiar with Schedule SE income can confirm the exact treatment.
Phase-Out Ranges for Covered Taxpayers (2025 Tax Year)
When either spouse is covered by a workplace retirement plan, deductibility phases out as MAGI rises. The table below reflects the 2025 tax year figures as published in the current edition of IRS Publication 590-A and confirmed at IRS IRA Deduction Limits. Verify current-year figures at IRS.gov before filing.
| Filing Status | Coverage Status | MAGI Phase-Out Range (2025) |
|---|---|---|
| Single or Head of Household | Covered by workplace plan | $79,000 – $89,000 |
| Married Filing Jointly | Contributing spouse covered | $126,000 – $146,000 |
| Married Filing Jointly | Contributing spouse NOT covered; other spouse covered | $236,000 – $246,000 |
| Married Filing Separately | Covered by workplace plan | $0 – $10,000 |
Source: IRS IRA Deduction Limits. Consult a tax advisor for your specific situation.
If your spouse has a 401(k) at work and you personally have no employer-sponsored plan, the deductibility phase-out does not hit until your joint MAGI exceeds $236,000 (2025). Many investors incorrectly assume they cannot deduct because their spouse is covered. Publication 590-A addresses this explicitly in the section “Are You Covered by an Employer Plan?” Consult your tax advisor for confirmation in your situation.
Nondeductible Contributions Are Still Permitted
An IRA contribution that does not qualify for a deduction is not wasted. Publication 590-A explicitly permits nondeductible traditional IRA contributions (per IRS Pub 590-A, “Nondeductible Contributions”). The after-tax contribution is tracked as “basis” on IRS Form 8606. At distribution, only the growth is taxable; the basis amount was already taxed and distributes tax-free.
For a gold IRA investor whose MAGI exceeds the deductibility range: a nondeductible contribution to a self-directed gold IRA still grows tax-deferred. The metal’s price appreciation is sheltered until withdrawal. Whether a nondeductible traditional contribution, a Roth IRA contribution (if income allows), or a Roth conversion strategy better fits your situation is a question a CPA can model specifically.
Rollover Mechanics Under Publication 590-A
For most gold IRA investors, the rollover chapter of Publication 590-A is where the action is. Relatively few fund a gold IRA with new annual contributions alone; most move money from an employer plan or existing IRA. Publication 590-A dedicates a substantial portion of Chapter 1 to rollover rules under “Can You Move Retirement Plan Assets?”
Direct Rollovers (Trustee-to-Trustee Transfers)
A direct rollover transfers funds from the source plan directly to the receiving IRA custodian. The account holder never takes personal possession of the money. Under Publication 590-A, direct rollovers are not subject to the 60-day rule, the once-per-year limit, or mandatory federal withholding (per IRS Pub 590-A, Chapter 1, “Trustee-to-Trustee Transfers”).
How a direct rollover works in practice:
- The account holder contacts the current 401(k) or IRA administrator and requests a direct rollover to a named receiving custodian.
- The administrator issues a check or wire made out to the receiving custodian, “FBO [Account Holder Name].” The check is never payable to the investor personally.
- The receiving custodian credits the new IRA account.
- No withholding occurs. No taxable event occurs.
For a self-directed gold IRA specifically: the receiving custodian must be an IRS-approved self-directed IRA custodian authorized to hold alternative assets, including physical precious metals. Standard brokerage accounts do not provide this service. The receiving custodian then coordinates with an approved depository to store any physical metal purchased inside the account.
The 60-Day Indirect Rollover Rule
An indirect rollover sends the distribution to the account holder directly. The investor then has 60 calendar days from the date of receipt to deposit the full amount into a qualifying IRA to complete the rollover tax-free (per IRS Pub 590-A, Chapter 1, “60-Day Rollover Rule”).
The critical complication with 401(k) indirect rollovers: federal law requires the plan to withhold 20% of the distributed amount for federal income taxes. The account holder receives only 80% of the total. To complete a full rollover, the investor must deposit 100% of the original distribution (not just the 80% received) within 60 days, making up the 20% withheld from other funds. Any shortfall is treated as a taxable distribution and potentially subject to a 10% early withdrawal penalty if the investor is under age 59½.
“If you receive a distribution from your employer’s qualified plan, the plan administrator may be required to withhold 20% of the taxable amount. If only 80% is rolled over and the rest is kept, the amount kept will have to be included in income.”
IRS Publication 590-A, Chapter 1, “Can You Move Retirement Plan Assets?” (withholding discussion)Indirect rollovers from one IRA to another are not subject to the 20% mandatory withholding, but the 60-day clock and other rules still apply. Because of the withholding risk and the 60-day window, virtually every gold IRA company structures the rollover as a direct transfer. Investors researching gold IRA companies who encounter only indirect rollover procedures should ask specifically why.
The Once-Per-Year Limit on Indirect Rollovers
Publication 590-A limits indirect (60-day) rollovers to one per 12-month period, counted across all of the investor’s IRA accounts combined (per IRS Pub 590-A, Chapter 1, “One-Rollover-Per-Year Limit”). The aggregate counting rule was clarified by the U.S. Tax Court in Bobrow v. Commissioner, T.C. Memo. 2014-21, where the court rejected the per-account interpretation and held the limit applies to all IRAs in the aggregate.
Three transaction types are exempt from the once-per-year limit:
- Direct rollovers (trustee-to-trustee transfers)
- Roth conversions
- Rollovers from employer plans (401(k), 403(b), 457(b), TSP) to an IRA
Because gold IRA rollovers from 401(k) plans use direct transfers, and trustee-to-trustee IRA transfers are also exempt, the once-per-year rule rarely affects a gold IRA investor operating normally. It becomes relevant if an investor attempts multiple indirect rollovers between IRAs in the same calendar year.
What Cannot Be Rolled Over
Not every distribution from an employer plan or IRA qualifies for rollover. Publication 590-A specifies several non-rollover-eligible categories (per IRS Pub 590-A, Chapter 1, “What Can Be Rolled Over?”):
- Required Minimum Distributions: Investors aged 73 or older (or 75 for those born in 1960 or later, per SECURE Act 2.0 §107) must take their annual RMD before rolling over any remaining balance. The RMD amount itself is not rollover-eligible. Rolling an RMD into an IRA creates an excess contribution subject to a 6% annual excise tax until corrected (per IRC §4973).
- 401(k) loans treated as distributions: An outstanding 401(k) loan that the investor does not repay before separation from the employer becomes a deemed distribution. That amount is taxable and not rollover-eligible.
- Hardship distributions
- Substantially equal periodic payments (SEPP / 72(t) distributions): An investor currently receiving SEPP distributions cannot roll those distributions back into an IRA.
- Excess contributions and related earnings
The RMD constraint is the most commonly encountered for gold IRA investors. An investor at age 73 with a $500,000 401(k) must calculate and receive their 2025 RMD before the remaining balance can be rolled to a self-directed gold IRA. Skipping this step creates a correctable but costly error. A plan administrator or CPA should calculate the exact RMD figure before any rollover is initiated at age 73 or older.
Roth IRA Conversions and Gold IRAs
Publication 590-A also covers Roth IRA contributions and conversions. A self-directed Roth IRA can hold physical gold and silver under the same IRC §408(m)(3) standards as a traditional self-directed IRA. The difference is tax timing: in a traditional gold IRA, contributions may be pre-tax and growth is tax-deferred; in a Roth gold IRA, contributions are made with after-tax dollars and qualified withdrawals are tax-free.
Key Roth rules from Publication 590-A relevant to gold IRA investors:
- Income limits on Roth IRA contributions: Unlike traditional IRA contributions (which only face deductibility phase-outs), direct Roth IRA contributions phase out as MAGI rises. For 2025: $150,000-$165,000 for single filers; $236,000-$246,000 for married filing jointly. Above these ranges, direct Roth contributions are not permitted.
- No income limit on Roth conversions: Converting a traditional IRA to a Roth IRA is available to any taxpayer regardless of income (this restriction was removed effective 2010 under the Tax Increase Prevention and Reconciliation Act, Public Law 109-222). The converted amount is included in gross income in the year of conversion.
- Five-year holding rule: Each Roth conversion starts its own five-year clock beginning January 1 of the conversion year. Withdrawing the converted principal before five years and before age 59½ triggers the 10% early withdrawal penalty on the converted amount.
- The pro-rata rule: When converting a traditional IRA that contains both deductible and non-deductible contributions, the IRS treats the conversion as a proportional mix of pre-tax and after-tax money across all your traditional IRAs. Segregating non-deductible contributions into a separate account does not eliminate the pro-rata calculation.
Tax treatment for a Roth vs. traditional self-directed gold IRA depends on current and expected future tax rates, years until distribution, and state tax treatment. Consult a CPA before choosing account type for a precious metals IRA rollover.
Gold IRA Rules That Publication 590-A Does Not Cover
Publication 590-A governs IRA mechanics universally. It does not specify what assets an IRA may hold. Those rules come from elsewhere in the tax code.
IRC §408(m)(3): The Legal Basis for Gold IRAs
IRC §408(m)(1) bars IRAs from holding “collectibles,” a category that would otherwise include coins and bullion. IRC §408(m)(3) carves out exceptions for specific precious metals that meet published fineness standards. Gold, silver, platinum, and palladium may be held in an IRA if they satisfy:
- Gold bullion: at least 0.995 fineness (99.5% pure)
- Silver bullion: at least 0.999 fineness (99.9% pure)
- Platinum and palladium bullion: at least 0.9995 fineness
- U.S. Mint coins: American Gold Eagle (the sole gold coin excepted from the 0.995 standard under §408(m)(3)(A)(i)), American Gold Buffalo, American Silver Eagle, and certain state-minted gold/silver coins that meet the applicable fineness requirements
Bullion or coins below these thresholds, including pre-1933 U.S. gold coins, foreign gold coins without IRS-verified approval, and numismatic coins marketed primarily for collectible value, are prohibited. Placing a prohibited asset in an IRA triggers a prohibited transaction under IRC §4975. The IRS treats the entire IRA as distributed in the year of the prohibited transaction, creating an immediate taxable event on the full account value.
Salespeople sometimes push “rare” or “premium” coins at prices significantly above spot value. Many such coins do not meet IRS fineness thresholds and are therefore ineligible for IRA accounts. Verify IRA eligibility with the custodian before any purchase. The IRS does not publish an approved-product list; the custodian bears responsibility for accepting only eligible assets.
Custodian and Depository Requirements
Publication 590-A notes that an IRA must be held by a qualifying trustee or custodian, which must be a bank, federally insured credit union, savings and loan association, or an entity specifically approved by the IRS to act as a trustee (per IRS Pub 590-A, Chapter 1, “Trustee”). A self-directed IRA custodian authorized for alternative assets fits this requirement; a standard stockbroker does not.
Physical gold in an IRA cannot be stored in the account holder’s home or personal safe deposit box. The Tax Court addressed this directly in McNulty v. Commissioner, T.C. Memo. 2021-98 (U.S. Tax Court, 2021), where the court held that home storage of gold coins belonging to an IRA constituted a taxable distribution of the entire IRA balance in the year the coins were taken home. The account holder faced income tax plus penalties on the full account value. Gold in an IRA must remain in the physical possession of the custodian or an IRS-approved, non-bank depository until a legitimate distribution is made.
Gold IRA companies that offer a “home storage IRA” arrangement, sometimes promoted through self-directed LLC structures, operate in direct conflict with McNulty and prior IRS guidance. No IRS publication or ruling has endorsed home storage of IRA-held metals.
IRS Publication 590-B: The Distribution Side
When it is time to take money out of a gold IRA, IRS Publication 590-B takes over. Publication 590-B covers the required beginning date for RMDs, the calculation methods (including the Uniform Lifetime Table), the 10% early withdrawal penalty and its exceptions, distributions to beneficiaries, and inherited IRA rules under SECURE Act 2.0’s 10-year rule.
For physical gold specifically: when an RMD is required from a gold IRA, the custodian can satisfy it in two ways. A cash distribution sells an appropriate amount of metal and distributes the proceeds. An in-kind distribution transfers physical metal to the account holder at fair market value. In either case, the fair market value of the distributed amount on the distribution date is the taxable amount, calculated the same way as any IRA distribution under Publication 590-B.
Common Mistakes When Reading Publication 590-A
Four errors come up consistently when gold IRA investors work through Publication 590-A without focused guidance on the gold-specific overlay:
Mistake 1: Applying contribution limits to rollovers. The $7,000 / $8,000 annual contribution ceiling does not restrict rollovers. A $600,000 401(k) can be transferred in its entirety to a self-directed gold IRA in a single direct rollover transaction. Publication 590-A is explicit: there are no dollar limits on rollover amounts (per IRS Pub 590-A, Chapter 1, “Can You Move Retirement Plan Assets?”). Investors who delay a rollover to “spread it over several years” to stay under contribution limits are acting on a misreading of the rules.
Mistake 2: Skipping the RMD before a rollover at age 73+. An investor subject to RMDs who rolls the entire plan balance without first taking the current year’s RMD has created an excess contribution equal to the RMD amount. The 6% annual excise tax under IRC §4973 applies until the error is corrected. The correction requires distributing the excess and any earnings attributable to it. A plan administrator or CPA should calculate the exact RMD before any rollover is initiated at age 73 or older.
Mistake 3: Applying the once-per-year limit to direct rollovers. The once-per-year limitation applies only to indirect (60-day) rollover transactions between IRAs. Investors who read this rule and conclude they can only move funds to a gold IRA once every 12 months are misreading it. Direct rollovers and rollovers from employer plans to IRAs are explicitly excluded from the limit.
Mistake 4: Conflating deductibility with contribution eligibility. Not being able to deduct a traditional IRA contribution does not mean the contribution is forbidden. Publication 590-A addresses nondeductible contributions in detail. The contribution still goes into the IRA, grows tax-deferred, and is tracked as after-tax basis on Form 8606. At distribution, only the growth (not the previously taxed basis) is included in income. Investors who skip contributions because they cannot deduct them may be forgoing years of tax-deferred growth on their gold IRA balance.
For investors working through a 401(k) rollover into a gold IRA, Augusta Precious Metals coordinates the direct rollover process end-to-end →. Augusta’s salaried, non-commissioned educators (not salespeople) walk through Publication 590-A’s rollover mechanics before any account is opened. Rated Money Magazine’s Best Overall Gold IRA Company five years running (2022-2026), with a BBB A+ rating and zero complaints on file (2026).
Frequently Asked Questions
Does IRS Publication 590-A specifically address gold IRAs?
No. Publication 590-A covers contributions, rollovers, and deductibility for all IRA types. It does not specify which assets an IRA may hold. The gold-specific rules come from IRC §408(m)(3) in the Internal Revenue Code itself. Publication 590-A and §408(m)(3) work in parallel for gold IRA investors: 590-A governs the funding mechanics; §408(m)(3) governs what metals are permitted inside the account.
Can I roll over my entire 401(k) balance to a gold IRA at once?
Generally yes, via a direct rollover with no dollar ceiling on the amount transferred. Two exceptions apply: investors aged 73 or older must take the current year’s required minimum distribution before rolling over the remaining balance (the RMD itself is not rollover-eligible); and an outstanding 401(k) loan that is not repaid before separation from the employer may be treated as a taxable distribution, removing that amount from rollover eligibility. Consult a CPA or the plan administrator before initiating any rollover if either condition applies.
What is the 60-day rollover rule under Publication 590-A?
When a distribution from an IRA or employer plan is paid directly to the account holder rather than to the new custodian, the account holder has 60 calendar days from the date of receipt to deposit the full amount into a qualifying IRA to complete the rollover tax-free (per IRS Pub 590-A, Chapter 1, “60-Day Rollover Rule”). Missing the deadline makes the distribution fully taxable and potentially subject to the 10% early withdrawal penalty for investors under 59½. The IRS can waive the 60-day deadline in specific hardship circumstances, but waivers are not automatic. Most gold IRA companies use direct rollovers to avoid the 60-day clock entirely.
Does the once-per-year rollover limit restrict gold IRA rollovers from a 401(k)?
No. The once-per-year limit under Publication 590-A applies only to indirect (60-day) rollovers between IRAs. Rollovers from employer-sponsored plans (401(k), 403(b), 457(b), TSP) to an IRA are explicitly exempt, as are direct trustee-to-trustee transfers. Since virtually all 401(k)-to-gold-IRA rollovers use the direct method, this limitation is not a practical constraint for the typical gold IRA rollover. It becomes relevant only if an investor conducts multiple indirect IRA-to-IRA rollovers in the same 12-month window.
Are traditional IRA contributions to a gold IRA tax-deductible?
Deductibility of contributions to a self-directed gold IRA follows the same rules as any traditional IRA. The key factors are whether you or your spouse are covered by a workplace retirement plan and your modified adjusted gross income. Publication 590-A’s deductibility tables show the phase-out ranges for each filing status. Even if income exceeds the phase-out range, nondeductible contributions are still permitted; track after-tax basis on Form 8606 to avoid double-taxation at distribution. Consult a tax advisor for your specific situation.
What gold and silver products are IRS-eligible for a self-directed IRA?
IRS eligibility is defined in IRC §408(m)(3), not in Publication 590-A. Gold bullion must meet at least 0.995 fineness (99.5% pure). Silver bullion must meet at least 0.999 fineness. Approved U.S. Mint coins include the American Gold Eagle (exempted by statute from the 0.995 standard), American Gold Buffalo, American Silver Eagle, and certain other qualifying coins. Collectible coins, foreign coins below the purity threshold, and numismatic products with large premiums over spot price generally do not qualify. Verify eligibility with the custodian before any purchase.
What are the tax consequences of home storage of gold IRA metals?
The Tax Court ruled in McNulty v. Commissioner (T.C. Memo. 2021-98) that home storage of IRA-owned gold coins constituted a prohibited transaction under IRC §4975 and a deemed distribution of the full IRA balance. The entire account was treated as distributed and taxable in the year the coins were taken home, plus applicable penalties. Physical gold in an IRA must be held by an IRS-approved custodian or in an approved third-party depository at all times.
When must required minimum distributions begin from a gold IRA?
Under SECURE Act 2.0 (Public Law 117-328), RMDs from a traditional gold IRA must begin at age 73 for investors born between 1951 and 1959, and at age 75 for those born in 1960 or later. RMD rules are governed by Publication 590-B. For a physical gold IRA, the custodian can satisfy an RMD through a cash distribution (selling a portion of the metal) or an in-kind distribution of metal at fair market value. Because gold IRAs involve physical logistics, coordinating with the custodian on RMD planning well in advance of the required beginning date is advisable. Consult a CPA to determine your exact RMD calculation.
Can I convert a traditional gold IRA to a Roth IRA?
Yes, via a Roth conversion. The converted amount is included in gross income in the conversion year. There is no income limit on conversions. The five-year holding rule applies to the converted amount for penalty-free withdrawal. The pro-rata rule applies if multiple traditional IRAs hold a mix of deductible and nondeductible contributions. Consult a tax advisor before converting; the full converted amount becomes ordinary taxable income in the conversion year, which can push you into a higher bracket.
Is there a limit on how many direct rollovers I can do per year?
No. The once-per-year limit under Publication 590-A applies only to indirect (60-day) IRA-to-IRA rollovers. Direct trustee-to-trustee transfers between IRAs and rollovers from employer plans to IRAs are unlimited in frequency. An investor who rolls one 401(k) to a gold IRA in January and then transfers a separate IRA to the same gold IRA in March via direct transfer has not violated any rule.
Sources and Citations
All factual claims in this guide trace to primary sources: IRS publications, Internal Revenue Code sections, U.S. Tax Court decisions, and enacted federal legislation. No claims derive from affiliate marketing materials or unpublished training documents.
- IRS Publication 590-A: Contributions to Individual Retirement Arrangements (IRAs). U.S. Internal Revenue Service. Current edition: irs.gov/pub/irs-pdf/p590a.pdf.
- IRS Publication 590-B: Distributions from Individual Retirement Arrangements (IRAs). U.S. Internal Revenue Service.
- IRS Retirement Topics: IRA Contribution Limits. U.S. Internal Revenue Service.
- IRS IRA Deduction Limits. U.S. Internal Revenue Service.
- IRS Form 8606: Nondeductible IRAs. U.S. Internal Revenue Service.
- Internal Revenue Code §219(b)(5)(B). Catch-up contributions for IRA participants aged 50 and older.
- Internal Revenue Code §408(m)(3). Exception for certain precious metals coins and bullion held in IRAs.
- Internal Revenue Code §408(a). Trustee requirements for Individual Retirement Accounts.
- Internal Revenue Code §4973. Tax on excess contributions to IRAs (6% annual excise tax).
- Internal Revenue Code §4975. Prohibited transactions involving IRAs and qualified plans.
- Bobrow v. Commissioner, T.C. Memo. 2014-21 (U.S. Tax Court, 2014). Established the aggregate once-per-year limit on indirect IRA rollovers.
- McNulty v. Commissioner, T.C. Memo. 2021-98 (U.S. Tax Court, 2021). Home storage of IRA-held precious metals constitutes a prohibited transaction and taxable distribution.
- SECURE Act 2.0 of 2022, Public Law 117-328 (Consolidated Appropriations Act, 2023), enacted December 29, 2022. RMD age increase (§107), catch-up limit changes, and elimination of traditional IRA age contribution cap.
- Tax Increase Prevention and Reconciliation Act of 2005, Public Law 109-222. Removed income limits on Roth IRA conversions effective January 1, 2010.
- FINRA Investor Alert: Precious Metals Fraud. Financial Industry Regulatory Authority.