A gold IRA lets you hold physical gold, silver, platinum or palladium inside a tax-advantaged retirement account. It also comes with extra rules, extra fees and an industry with a documented history of high-pressure sales. This checklist walks you through the twelve things to confirm before you move retirement money into metal.
Who This Checklist Is For
It's written for people in or near retirement who are weighing a gold IRA and want to understand it before they talk to a salesperson. Each item links to a deeper guide. We cite the IRS, the Tax Court and federal and state regulators wherever a rule or a number matters, and we date everything because fees and limits change.
We are not financial advisers, and nothing here is personal advice. We do earn commissions from one gold IRA company, Augusta Precious Metals, which we explain in our affiliate disclosure.
The 12-Point Gold IRA Checklist
1. Know what a gold IRA is (and isn't)
A gold IRA is a self-directed IRA that owns physical bullion stored by an approved depository. It is not a special account type with its own tax rules, and it is not the same as owning a gold fund. It follows the same contribution, rollover and withdrawal rules as any traditional or Roth IRA. How a gold IRA works, step by step.
2. Decide whether gold belongs in your plan at all
Gold can diversify a portfolio, but it pays no income, costs money to store and can fall in value for years at a time. Research has found it an unreliable inflation hedge over typical investing horizons. Read the honest pros and cons.
3. Pick the right account type
Traditional gold IRAs give tax-deferred growth and taxable withdrawals. Roth gold IRAs give tax-free qualified withdrawals and no required minimum distributions for the original owner. Converting from traditional to Roth is a taxable event. Roth gold IRA rules.
4. Check the IRS metal and purity rules
The tax code treats most coins and metals as collectibles that an IRA can't own. The exceptions are specific U.S. coins and bullion that meets minimum fineness, held by a trustee. Gold IRA rules for 2026.
5. Move money by transfer, not a 60-day rollover, when you can
A direct transfer keeps the money away from you, so there's no 60-day deadline, no once-a-year limit and no 20% withholding. Gold IRA rollover guide (401(k), TSP, IRA).
6. Get every fee in writing
Expect a setup fee, an annual custodian fee and an annual storage and insurance fee, plus wire, shipping and closing fees at some firms. Every gold IRA fee explained.
7. Ask for the dealer markup as a percentage
The biggest cost is usually the difference between what you pay for the metal and what it's worth at the spot price. It's rarely shown on fee schedules. Ask for it in writing before you buy.
8. Insist on an approved depository
"Home storage gold IRAs" have been tested in court and lost. Your metal should sit with an IRS-compliant depository, either segregated or commingled. Can you store gold IRA metals at home?
9. Favor bullion over high-premium collectible coins
Proof and "low-mintage" coins cost more over melt value and are where the worst documented markups have occurred. IRA-eligible coins and bars and gold vs. silver IRAs.
10. Plan how the money comes back out
Required minimum distributions, buyback spreads and in-kind withdrawals all affect what you actually receive. Withdrawals, RMDs and selling your metals.
11. Run the scam red-flag test
Regulators have charged dealers with hiding markups of up to roughly 130% on coins sold to retirees. The red flags and the real cases.
12. Compare companies on written answers
Ask every company the same questions about minimums, fees, markups, custodians, storage and buybacks, and compare the written answers. 15 questions to ask a gold IRA company, then see our Augusta Precious Metals review and lower-minimum alternatives.
Gold IRA Key Numbers for 2026
| Rule | 2026 figure | Source |
|---|---|---|
| IRA contribution limit (all your IRAs combined) | $7,500 | IRS |
| IRA catch-up contribution, age 50+ | $1,100 | IRS |
| 401(k), 403(b), most 457 plans and TSP deferral limit | $24,500 | IRS |
| 60-day rollover deadline | 60 days from receipt | IRS |
| IRA-to-IRA 60-day rollovers | One per 12 months, across all IRAs | IRS Announcement 2014-15 |
| Required minimum distributions begin | Age 73 (age 75 if born 1960 or later) | IRS / SECURE 2.0 |
| Minimum gold fineness for bullion | .995 (American Gold Eagle is a statutory exception) | IRC ยง408(m) |
Where Gold IRA Costs Come From
Most people focus on annual fees. Those matter, especially on smaller accounts, but the price you pay for the metal itself usually matters more. Here is how the cost layers stack up in a typical account.
| Cost layer | When you pay it | Shown on fee schedule? |
|---|---|---|
| Account setup | Once | Usually |
| Custodian administration | Every year | Usually |
| Storage and insurance | Every year | Usually |
| Dealer markup (spread over spot) | When you buy | Rarely; ask |
| Buyback spread | When you sell | Rarely; ask |
Illustration: a flat $250 per year in combined custodian and storage fees, divided by account size. Real fees vary by company.
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How We Research
We build every guide from primary sources: the Internal Revenue Code, IRS publications and announcements, Tax Court opinions, and enforcement releases from the Commodity Futures Trading Commission (CFTC) and state attorneys general. Company figures come from each company's own published pages, and we date them. If you spot something out of date, tell us and we'll correct it. About our editorial standards.