IRS Publication 590-B: Complete Walkthrough for Gold IRA Holders in 2026

IRS Publication 590-B sets out the federal rules for how money comes out of your Individual Retirement Arrangements. For holders of a gold IRA, the same framework applies as for any traditional or Roth IRA, with one added layer: your assets are physical precious metals held at an approved depository. That physical dimension creates real-world questions around Required Minimum Distributions (RMDs), in-kind transfers, and valuation that a standard brokerage IRA holder never faces. This walkthrough covers every major section of Pub 590-B that applies to gold IRA holders, with inline citations to the underlying IRC sections so you can verify each rule at its primary source.

What IRS Publication 590-B Covers (and Why It Applies to Gold IRAs)

The IRS publishes 590-B annually to explain the rules for distributions from Individual Retirement Arrangements. The 2024 edition (the most recent at the time of publication, available at irs.gov/pub/irs-pdf/p590b.pdf) covers traditional IRAs, Roth IRAs, and inherited IRAs. Self-directed gold IRAs are a subset of traditional or Roth IRAs and follow the same rules in every material respect.

What separates a gold IRA from a standard brokerage IRA is the physical nature of the underlying assets. A gold IRA holds actual bullion or approved coins at an IRS-approved depository, raising two practical questions that Pub 590-B does not address directly: how is the account valued for RMD purposes when the underlying assets are metals with fluctuating spot prices, and what happens when an account holder wants to take a distribution in physical gold rather than cash? Both questions have answers in existing IRS guidance and the regulations, covered in the sections below.

IRC §408(m)(3) is the code section that permits certain precious metals inside an IRA. It carves out an exception to the general prohibition on holding “collectibles” within a retirement account (the general prohibition is at IRC §408(m)(1)-(2)). Under this exception, an IRA may hold:

• Gold bullion with a fineness of at least 0.995 (99.5% pure) (per IRC §408(m)(3)(B))
• Silver bullion of at least 0.999 fineness (99.9% pure) (per IRC §408(m)(3)(B))
• Platinum and palladium bullion of at least 0.9995 fineness (per IRC §408(m)(3)(B))
• Certain government-minted coins: American Gold Eagle (including proof versions), American Silver Eagle, American Gold Buffalo, American Platinum Eagle, American Palladium Eagle, and coins issued under state law (per IRC §408(m)(3)(A))

A notable detail: American Gold Eagle coins qualify under IRC §408(m)(3)(A) even though they are 91.67% gold (22-karat), because they are explicitly listed in the statute. The 0.995 fineness threshold in §408(m)(3)(B) applies to bullion bars and rounds, not to the enumerated coins.

Required Minimum Distributions for Gold IRA Holders

Traditional gold IRAs are subject to Required Minimum Distributions, exactly as any traditional IRA funded with pre-tax dollars. Roth gold IRAs are not subject to RMDs during the original owner’s lifetime (per IRC §408A(c)(5)).

When RMDs Must Begin: The Age 73 Threshold

Under the SECURE 2.0 Act of 2022 (P.L. 117-328, signed into law December 29, 2022), the required beginning date for RMDs is April 1 of the year following the year in which you reach age 73. If you turn 73 in 2025, your first RMD is due by April 1, 2026. Every subsequent RMD is due by December 31 of that calendar year.

Taking two RMDs in one calendar year (delaying your first distribution to April 1 and then taking the current-year distribution by December 31) is permitted under the statute but doubles taxable income in that year. Many gold IRA holders take the first RMD during the year they turn 73 to avoid that bunching effect, though this is a tax timing question for a qualified advisor. SECURE 2.0 also provides that the RMD age will increase further, to 75, for individuals who reach age 74 after December 31, 2032 (per P.L. 117-328, §107). Verify the applicable age with your advisor or the current version of IRS Pub 590-B if you are approaching that window.

How to Calculate Your Gold IRA RMD

The calculation method is the same for a gold IRA as for any traditional IRA (per IRS Pub 590-B, “Figuring the Required Minimum Distribution” section):

The challenge specific to gold IRA holders is establishing the “prior year-end account balance.” Because the assets are physical metals priced at market rates that shift daily, the account balance as of December 31 of the prior year must reflect the fair market value of all gold (and any other metals) held in the account on that date. Your custodian is responsible for calculating and providing this December 31 valuation, typically using recognized spot price data. Verify the valuation figure with your custodian before using it in your RMD calculation, and keep the documentation in case of an IRS inquiry.

In-Kind vs. Cash Distributions from a Physical Gold IRA

When an RMD comes due, a gold IRA holder has two practical options:

1. Cash distribution: The custodian liquidates enough gold (at prevailing spot prices) to cover the RMD amount and sends you cash. The custodian reports the amount on Form 1099-R. This is the operationally simpler path.
2. In-kind distribution: You receive actual physical gold (coins or bars) with a fair market value equal to or greater than your calculated RMD. The fair market value of the metal on the distribution date is the amount included in your taxable income for the year. The custodian still reports this on Form 1099-R using that valuation figure.

In-kind distributions are permitted under the general distribution rules in IRS Pub 590-B, which place no restriction on the form of the distribution. Once the metal leaves the IRA, it is your personal property, no longer held inside a tax-advantaged account. Storage and insurance costs for the physical metal become your responsibility.

Aggregation rule: if you hold multiple traditional IRAs (for example, a gold IRA alongside a stock brokerage IRA), you may add up the calculated RMDs across all traditional IRAs and take the total distribution from any single account or any combination (per IRS Pub 590-B). This means you can satisfy the gold IRA’s RMD obligation by taking an equivalent cash amount from a liquid brokerage IRA, avoiding the need to liquidate or transfer physical metal.

Augusta Precious Metals walks qualifying account holders through how their custodian handles RMD coordination, including in-kind distribution procedures. Augusta’s free Gold IRA guide covers their distribution and RMD process →

Qualified and Non-Qualified Distributions: The Tax Treatment

Traditional Gold IRA Distributions

All distributions from a traditional gold IRA funded with pre-tax contributions are included in ordinary gross income in the year you receive them, at your applicable marginal income tax rate (per IRC §408(d)(1) and IRS Pub 590-B, “What Are Distributions” section). There are no special capital gains rates for precious metals coming out of an IRA; a distribution of gold is taxed identically to a distribution of cash.

If you made any non-deductible (after-tax) contributions to a traditional IRA, the pro-rata rule applies: a portion of each distribution is excluded from income, calculated using IRS Form 8606. Gold IRAs are typically funded with rollovers from 401(k) plans or other pre-tax accounts, so most gold IRA distributions are fully taxable. Your custodian will issue Form 1099-R; check Box 7 for the distribution code, which tells you how the IRS classifies the payment.

Roth Gold IRA Distributions

Qualified distributions from a Roth IRA, including a Roth gold IRA, are excluded from gross income and carry no 10% additional tax (per IRC §408A(d)(1)). A distribution is “qualified” under IRC §408A(d)(2) if two conditions are both satisfied:

1. The distribution is made after the 5-taxable-year period beginning with the first taxable year for which any Roth IRA contribution was made on your behalf (the “5-year holding requirement”).
2. The distribution is: (a) made on or after age 59½, (b) made after your death, (c) attributable to your disability as defined in IRC §72(m)(7), or (d) a qualified first-time homebuyer distribution of up to $10,000 lifetime (per IRC §408A(d)(5)).

Non-qualified Roth distributions (taken before the 5-year period or before age 59½ without a qualifying exception) may be partially taxable. The ordering rules in IRC §408A(d)(4) determine which portion is taxable: contributions come out first (tax and penalty-free), then converted amounts, then earnings. For a Roth gold IRA funded entirely by rollover conversion, the ordering rule matters significantly during the early years after conversion.

Early Withdrawal Penalties Under IRC §72(t)

The 10% Additional Tax

Taking a distribution from a traditional gold IRA before reaching age 59½ triggers a 10% additional tax on the taxable portion of the distribution, on top of ordinary income tax (per IRC §72(t)(1) and IRS Pub 590-B, “Early Distributions” section). This 10% is reported separately on IRS Form 5329 and is in addition to, not a replacement for, regular income tax. Withholding from the IRA does not automatically cover this additional tax; you may owe more at filing time.

Statutory Exceptions to the 10% Penalty

IRC §72(t)(2) lists the circumstances in which the 10% additional tax does not apply. The following are the exceptions most relevant to gold IRA holders:

• Death (IRC §72(t)(2)(A)(ii)): Distributions paid to a beneficiary or estate after your death are exempt from the 10% penalty.
• Disability (IRC §72(t)(2)(A)(iii), §72(m)(7)): A permanent and total disability, as defined in IRC §72(m)(7), qualifies. The definition requires inability to engage in any substantial gainful activity due to a medically determinable impairment expected to be long-term or fatal.
• Substantially Equal Periodic Payments (SEPP / Rule 72(t)) (IRC §72(t)(2)(A)(iv)): A series of substantially equal periodic payments calculated under one of three IRS-approved methods (required minimum distribution method, fixed amortization method, or fixed annuitization method). The schedule must continue for the longer of 5 years or until you reach age 59½. Modifying the schedule before the required period ends reinstates the 10% penalty retroactively on all prior distributions in the series.
• Unreimbursed medical expenses (IRC §72(t)(2)(B)): The exemption covers distributions up to the amount of medical expenses exceeding 7.5% of your adjusted gross income, even if you do not itemize deductions on Schedule A.
• Health insurance premiums while unemployed (IRC §72(t)(2)(D)): Premiums paid after at least 12 consecutive weeks of unemployment compensation qualify.
• Qualified higher education expenses (IRC §72(t)(2)(E)): Covers tuition, fees, books, supplies, and certain room and board at eligible educational institutions for you, your spouse, children, or grandchildren.
• First-time homebuyer distribution (IRC §72(t)(2)(F)): Up to $10,000 lifetime, for acquiring, constructing, or reconstructing a first home for you, your spouse, child, grandchild, parent, or grandparent who qualifies as a first-time buyer.
• IRS levy (IRC §72(t)(2)(A)(vii)): Amounts distributed because of an IRS levy on the IRA are exempt.
• Qualified reservist distributions (IRC §72(t)(2)(G)): Applies to reservists called to active duty for 180 days or more.
• Qualified birth or adoption (IRC §72(t)(2)(H), added by SECURE Act, P.L. 116-94): Up to $5,000 per birth or adoption event, taken within one year of the birth or adoption date.

Whether a specific exception applies to a particular distribution depends on facts-and-circumstances analysis. Consult a qualified tax attorney or CPA before relying on an exception for a planned early distribution.

Rollover Rules Under Publication 590-B

Rolling funds into or out of a gold IRA follows the same rules that govern any IRA rollover. Missteps on timing or frequency can turn an intended rollover into a taxable distribution.

The 60-Day Rollover Window

When you receive a distribution from an IRA (or an eligible employer plan) and intend to roll it over into another IRA, you have 60 days from the date you actually receive the distribution to complete the deposit (per IRC §408(d)(3)(A) and IRS Pub 590-B, “Rollovers” section). Missing the 60-day deadline converts the distribution into a taxable event, subject to ordinary income tax and potentially the 10% additional tax if you are under age 59½.

The IRS has authority to waive the 60-day requirement when the failure was due to financial institution error, postal error, death or hospitalization, incarceration, restriction by a foreign country, or a federally declared disaster, among other circumstances (per IRS Rev. Proc. 2003-16 and subsequent guidance). Waiver requests require a private letter ruling from the IRS, which involves a user fee and processing time.

A separate issue for employer plan rollovers: when a distribution comes directly to you from a 401(k) or other employer plan, the plan is required to withhold 20% for federal income taxes, unless you elect a direct rollover (per IRC §3405(c)). To roll over the full pre-distribution amount, you must deposit 100% of it into the gold IRA within 60 days, using other funds to replace the withheld 20%. You recover the withheld amount when you file your federal return for that year.

The Once-Per-Year Rollover Limit

You may complete only one indirect IRA-to-IRA rollover (one in which you actually receive the funds before redepositing) within any 12-month period, regardless of how many IRAs you own (per IRC §408(d)(3)(B)). This is a per-taxpayer limit, not a per-IRA limit. The Tax Court addressed an attempt to apply the limit per-IRA in Bobrow v. Commissioner, T.C. Memo. 2014-21, ruling in favor of the IRS’s per-taxpayer interpretation. The IRS then issued Announcement 2014-15 and Announcement 2014-32 to formally update its published guidance consistent with that ruling.

Violating the once-per-year limit transforms the second rollover into a taxable distribution. If the funds were deposited into an IRA, an excess contribution may also result, triggering the 6% excise tax under IRC §4973 for each year the excess remains in the account.

Direct (Trustee-to-Trustee) Transfers: No Time Limit, No Annual Cap

A direct transfer between IRA custodians, where the funds move directly from the old custodian to the new custodian without passing through your hands, is not a rollover. It is not subject to the 60-day rule, and it does not count against the once-per-year rollover limit (per IRS Pub 590-B, “Transfers” section). For moving a gold IRA from one custodian to another, a direct trustee-to-trustee transfer is generally the safer mechanism.

For a physical gold IRA, a direct transfer involves moving the actual metals (or the proceeds from their liquidation at the old custodian) directly to the new custodian’s approved depository. Confirm with both custodians how they coordinate in-kind transfers of physical metal before initiating the process, since procedures vary and errors can be difficult to reverse.

Inherited Gold IRA Rules: SECURE Act and SECURE 2.0 Updates

The rules for inherited IRAs changed significantly with the SECURE Act of 2019 (P.L. 116-94) and were further refined by SECURE 2.0 (P.L. 117-328) and subsequent Treasury regulations. The beneficiary type determines what distribution options are available, and the rules for gold IRAs are the same as for any inherited traditional IRA.

Surviving Spouse Beneficiaries

A surviving spouse who inherits a gold IRA has the most planning flexibility (per IRS Pub 590-B, “Inherited from Spouse” section):

• Spousal rollover or election to treat as own: The surviving spouse can roll the inherited IRA into a new or existing IRA in their own name, or formally elect to treat the inherited account as their own. Once treated as their own, the surviving spouse’s age governs RMD timing and the applicable distribution period tables.
• Maintain as inherited IRA: The surviving spouse can keep it as an inherited account. If the deceased had not yet reached their required beginning date, the surviving spouse may delay distributions until the deceased would have turned 73.

Surviving spouses also qualify as “eligible designated beneficiaries” (EDBs), which preserves the ability to stretch distributions over their own life expectancy rather than following the 10-year rule that applies to most other beneficiaries.

The 10-Year Rule for Non-Spouse Beneficiaries

Under the SECURE Act of 2019, most non-spouse beneficiaries of a traditional IRA inherited after December 31, 2019 must withdraw all account assets within 10 years of the IRA owner’s death (per IRC §401(a)(9)(H), added by P.L. 116-94). The statute sets no requirement for annual distributions within the 10-year window; the account simply must be fully distributed by the end of the tenth year following the year of the original owner’s death.

One complexity that took years of IRS guidance to resolve: if the original IRA owner had already reached their required beginning date at the time of death, the non-spouse beneficiary must also take annual RMDs during the 10-year period based on the beneficiary’s single life expectancy (per IRS Notice 2022-53 and the final regulations issued by the Treasury Department in 2024). If the original owner had not yet reached their required beginning date, no annual distributions are required within the 10 years.

For inherited gold IRAs specifically, a non-spouse beneficiary subject to the 10-year rule needs to plan the liquidation or distribution of physical metals well in advance. Waiting until year nine or ten to address the physical gold creates unnecessary market-timing risk and logistical pressure. An inherited gold IRA may also be aggregated with other inherited IRAs from the same decedent, though rules on aggregation across different decedents are more restrictive.

Eligible Designated Beneficiaries (EDBs)

EDBs are not subject to the 10-year rule. They may instead use the “stretch IRA” approach, distributing over their own life expectancy from the Single Life Expectancy Table (IRS Pub 590-B, Appendix B, Table I). EDBs are defined in IRC §401(a)(9)(E)(ii) (as amended by the SECURE Act) and include:

• Surviving spouses
• Minor children of the deceased IRA owner (the stretch applies until the child reaches the age of majority; the 10-year rule then begins from that point, not from the owner’s death)
• Disabled individuals (per the definition in IRC §72(m)(7))
• Chronically ill individuals (per the definition in IRC §7702B(c)(2))
• Any individual not more than 10 years younger than the deceased IRA owner

EDBs inheriting a gold IRA must take annual distributions calculated using their own single life expectancy and the December 31 prior-year fair market value of the account, the same valuation approach used for the original owner’s RMDs. Confirm the December 31 valuation with the custodian each year, as the IRS requires accurate account-value documentation to support the distribution calculation.