June 8, 2021

Gold IRA Rollover Guide: Diversify Your Investments with Gold


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IRA accounts are frequently used by those trying to accumulate wealth without having to pay taxes on the same money numerous times. People will usually pay taxes on the initial earned capital, when their dividends are distributed, and when they sell their assets.

So as you can see, paying taxes 3 times on the same funds is fairly common ground. Because taxation usually exceeds 50% with both local and state taxes, you end up paying a ridiculous amount to the government if you don't decide to minimize this tax percentage taken from you.

Luckily the IRS gives you the option to pay taxes only once on your money with an IRA. When it comes to IRAs, you even get the option to own physical gold with it. This is a huge advantage and using gold in your retirement portfolio is another great advantage to be aware of.

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IRA Rollover to Gold


A "rollover" means that the account holder has transferred some of his funds from a traditional account to an IRA account. 

Now, the account holder might have done this with a traditional IRA as well as a Roth IRA.

The main difference is that he has rolled his money over - not take it out of his account.

 When considering how to do a gold IRA rollover, you will find several options available to you.

You have the traditional rollover, also called a transfer, and there is also asset protection.

Besides, there are some tax advantages associated with both methods. Before opening a new account, you should consider how to use your current assets best to reach your retirement goals.

Here are some basic instructions on how to rollback an IRA:

What’s a Gold-Backed IRA?


A gold-backed IRA is the type of IRA that has purchased gold certificates for inclusion in the account.

Then you use the gold in the account for investment purposes only. Gold-backed IRAs are not permitted to lend or invest in any asset for the account's use.

 There are three main types of gold-backed IRAs: certificates of deposit (CDs), coins, and bonds. 

Many people choose to cash in on their gold by purchasing a gold futures contract. This gives them the ability to buy gold at a lower price than they could buy it for in the future. This makes gold somewhat like insurance for your wealth.

 One of the best things about gold is its stability.

Gold does not fluctuate in prices like the dollar or the euro. It has been going up for 20 years now, which is more than most investments have ever done.

Even if the gold market crashes, as it sometimes does, the gold holding wealth will hold its value and continue to rise.

 Another advantage of owning gold is that there are no annual fees associated with owning a gold-backed IRA. The costs of keeping the gold insured, especially in the case of an accident, can become relatively high.

This is another reason why many people choose to invest in gold rather than other stocks and bonds. Gold IRAs may soon surpass the stock market as the largest holder of asset class value during retirement.


How to Execute a Rollover into a Gold IRA 

1. Decide if you will do a direct rollover or indirect rollover.


A direct rollover is when your money goes directly from the 401k into your new account with an IRA trustee.

An IRA trustee is a self-directed IRA vendor that notes all of your IRA transactions and then provides documentation to both you and the IRA. Then they will facilitate the purchases of precious metals for you.


An indirect rollover happens when the 401k funds are sent to you and from there you transfer them into your IRA account.


With an indirect rollover, you need to complete this transfer in 60 days, or else the IRS will consider it to be a distribution from your 401k money.


We recommend going with the direct rollover so you don't risk losing money to tax or fee if you don't meet the 60 day deadline.


2. Open Your Account

After you find yourself a vendor, then you’ll open your account with them and complete the forms, usually online. You’ll then pay your setup fee which usually ranges from $50-$300


3. Execute Your Rollover

You can either roll your IRA into your new account by, maximum once a year, withdrawing your money and depositing it yourself into the new account on your own.

Just make sure to complete it in 60 days!
Something important to note is that the administrator for your 401k will have to forward 20% of your money to the IRS.

Even with this, you have to deposit 100% of the funds within 60 days, or else you will be subject to a ton of fees and taxes.

So make sure you have that 20% of the 401k in savings in case you need to make the transfer before you get it from the IRS.
To move forward, tell your current investment company you need to complete your rollover whether it be a direct or indirect rollover. To finish you'll need the new account's number to do the transfer.

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Eligible Accounts


 If you do not currently have eligible accounts in a gold IRA account, then you need to learn how to transfer them into an IRA for growth and tax deferment.

There are several ways you can do this. One of the best ways is to use a rollover plan.

This allows you to take payments from your eligible accounts in a traditional IRA and put them into a new IRA. This can help you save money because traditional IRAs offer lower interest rates. T

hey also require that the entire balance be transferred, which can take several months to find enough cash to make the transfer. Any of these qualifying tax-advantaged accounts may be used to fund your new gold IRA rollover:

 •Roth IRAs

 •Eligible 401(k) s, 457s and 403(b) s

 •SIMPLE IRAs 

 •Traditional IRAs

 •SEP IRAs


 If the money comes from a Roth IRA, your new gold IRA account should be set up as a Roth IRA as well.

That way, you may keep the tax advantages of a Roth IRA, such as tax-free growth, for as long as you live. As long as the assets have been in a Roth account for at least five years.


Talk with Goldco for a professional and timely approach to moving some of your assets into precious metals. 

Finding the Best IRA Company


 Like any other investment, there are some important things to consider. Then make sure you understand them before deciding on a particular gold IRA specialist. Choosing a good gold IRA specialist means choosing one who: 

 A) Has a good reputation 

 B) Has a clear understanding of the tax benefits of owning gold (or another asset). 

 Finding a good IRA provider means finding someone with good credentials. One that can answer all your questions about gold investment.


 Goldco ticks all the above boxes and can provide so much more for those willing to build on their nest egg. If you need more information on how to do a gold IRA rollover, you can contact Goldco's experts through this link. Here you will have their experts ready to answer all your inquiries.

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