Gold IRAs follow the same IRS rules as any IRA for contributions, rollovers and withdrawals. On top of that, three rules are specific to metals: what the account can hold, who must hold it, and what you may not do with it. Here is each rule in plain English, with the 2026 figures.
Gold IRA Rules at a Glance
| Rule | What it says |
|---|---|
| Contribution limit (2026) | $7,500, plus $1,100 catch-up at 50+, shared across all IRAs |
| Eligible metals | Certain U.S. coins, plus gold, silver, platinum and palladium bullion meeting minimum fineness |
| Who holds the metal | A bank or IRS-approved non-bank trustee, using an approved depository |
| Personal possession | Not allowed while the metal is in the IRA |
| Collectibles | Purchases are treated as taxable distributions |
| Rollovers | 60-day deadline; one IRA-to-IRA 60-day rollover per 12 months |
| Withdrawals | Taxed like any IRA; 10% additional tax before 59½ unless an exception applies |
| Required minimum distributions | From 73 (75 if born in 1960 or later) for traditional gold IRAs |
Rule 1: Contribution Limits for 2026
The IRS raised the IRA contribution limit to $7,500 for 2026, with a $1,100 catch-up for people aged 50 or older. That's the total you can put into all your traditional and Roth IRAs combined, so a gold IRA doesn't get its own extra allowance.
Workplace plans have separate limits: $24,500 for 401(k), 403(b), most 457 plans and the Thrift Savings Plan in 2026, with an $8,000 catch-up at 50+ and a higher $11,250 catch-up for ages 60 to 63. Those limits matter only if you're rolling money out of such a plan later.
Transfers and rollovers don't count toward the annual limit. That's why most gold IRAs are funded by moving existing savings. You can make a contribution for a given year up to the tax filing deadline the following spring.
Rule 2: Only Certain Metals Are Allowed
Section 408(m) of the tax code says that if an IRA buys a "collectible," the cost is treated as a distribution to you, meaning it's taxable and may trigger the 10% early withdrawal tax. Collectibles include art, antiques, gems, stamps and most coins and metals.
Section 408(m)(3) creates two exceptions:
- Specific U.S. coins, including American Eagle gold, silver and platinum coins and certain state-issued coins.
- Bullion of gold, silver, platinum or palladium whose fineness meets the standard required for delivery under a regulated futures contract, as long as it is held by a trustee.
Minimum fineness by metal
| Metal | Commonly applied minimum fineness | Example |
|---|---|---|
| Gold | .995 | Gold Buffalo, Maple Leaf and Philharmonic coins (.9999); accredited bars |
| Silver | .999 | American Silver Eagle, Silver Maple Leaf |
| Platinum | .9995 | Platinum bars from accredited refiners; American Platinum Eagle by statute |
| Palladium | .9995 | Palladium bullion bars and coins meeting fineness |
The American Gold Eagle is about .9167 fine (22 karat), below the .995 standard, but it qualifies because the statute names it. Coins like the South African Krugerrand and the British Sovereign are also about .9167 fine but have no statutory exception, so custodians generally don't accept them. Our guide to IRA-eligible gold coins and bars lists common products.
Rule 3: A Trustee Must Hold the Metal
The bullion exception only applies when the metal is "in the physical possession of a trustee." In practice, your custodian, which must be a bank or an IRS-approved non-bank trustee, arranges for an approved depository to store and insure it.
Segregated vs. commingled storage
- Segregated: your specific bars and coins are stored separately and returned to you exactly. Usually costs more.
- Commingled (non-segregated): your metal is pooled with other customers' identical products, and you get back the same type and quantity, not the same pieces. Usually cheaper.
Both are permitted. Ask which one you're paying for. More in gold IRA custodians and depositories.
Home storage doesn't meet this rule. Arrangements that let you keep IRA metal at home, often through an IRA-owned LLC, have been rejected by the Tax Court. Read gold IRA home storage before anyone pitches you on it.
Rule 4: Prohibited Transactions
The IRA rules ban certain dealings between your IRA and you or close family members. For a gold IRA, the most relevant are:
- Selling metal you already own to your IRA, or buying the IRA's metal yourself.
- Taking personal possession of IRA metal, or displaying or using it.
- Using the IRA or its metal as collateral for a loan.
- Paying yourself or family members from the IRA for services.
A prohibited transaction can cause the IRA to stop being an IRA, with the entire account treated as distributed. That's a severe penalty, so keep the arrangement simple: a custodian, a dealer and a depository, with you at arm's length.
Rule 5: Rollover and Transfer Rules
Moving money into a gold IRA is governed by the same rules as any IRA:
- With an indirect (60-day) rollover, you must redeposit the money within 60 days or it becomes a taxable distribution.
- You can do only one IRA-to-IRA 60-day rollover in any 12-month period, counting all your IRAs together.
- Direct trustee-to-trustee transfers aren't rollovers and aren't limited.
- Employer plans must withhold 20% if they pay a rollover distribution to you rather than directly to the new custodian.
Details for 401(k), TSP, 403(b) and IRA moves are in the gold IRA rollover guide.
Rule 6: Distribution and RMD Rules
Withdrawals from a traditional gold IRA are taxed as ordinary income, whether you sell the metal and take cash or take the metal itself (valued at fair market value). Before age 59½, a 10% additional tax applies unless an exception fits. Required minimum distributions start at 73, or 75 if you were born in 1960 or later. Roth gold IRAs have no RMDs for the original owner. See gold IRA withdrawals and RMDs.
What the IRS Does Not Do
The IRS doesn't approve, rate or endorse precious metals dealers, and it doesn't publish a list of approved coins. "IRS-approved gold" is a marketing phrase meaning a product meets the §408(m) rules; "IRS-approved company" isn't a real status for a dealer. The only IRS approval in this space is for non-bank trustees, which the IRS lists publicly.