The short answer: A gold IRA follows the same IRS rules as any IRA, plus a few that apply only to metal. The key ones: you can contribute up to $7,500 in 2026 ($8,600 at 50 or older), the metal must meet IRS purity standards, it must be held by an approved trustee or depository and never at home, you cannot buy from or sell to yourself or close family, and traditional accounts must start required minimum distributions at 73.
Who can open a gold IRA?
- New contributions require earned income for you or, with a spousal IRA, your spouse.
- There is no age limit on traditional IRA contributions. The old age 70 and a half cutoff was removed starting in 2020.
- Roth gold IRA contributions phase out between $153,000 and $168,000 of income for single filers and $242,000 to $252,000 for married couples filing jointly in 2026.
- Rollovers and transfers from a 401(k), 403(b), 457, TSP or other IRA need no earned income and have no dollar limit.
What are the 2026 contribution limits?
| Limit | 2026 amount |
|---|---|
| IRA contribution, under 50 | $7,500 across all your IRAs |
| IRA catch-up, 50 and older | $1,100 extra, $8,600 total |
| Rollovers and transfers | No limit; not counted as contributions |
| Contribution deadline | Your tax filing deadline, usually April 15 of the following year |
The $7,500 limit is shared. If you put $3,000 into a gold IRA, you can add only $4,500 to your other IRAs for the year.
Which metals does the IRS allow?
IRAs cannot generally own collectibles, and most metals and coins count as collectibles. The law makes exceptions for bullion of a minimum fineness held by an approved trustee, and for certain US government coins.
| Metal | Minimum fineness |
|---|---|
| Gold | .995 (American Gold Eagles allowed by statute) |
| Silver | .999 |
| Platinum | .9995 |
| Palladium | .9995 |
If your IRA buys something that does not qualify, such as a rare or graded collector coin, the IRS treats the purchase price as a taxable distribution to you.
Where must gold IRA metal be stored?
The law requires IRA bullion to be in the physical possession of a bank or an IRS-approved non-bank trustee. In practice, your custodian arranges storage in an approved depository. Promoters of “home storage” or “checkbook” gold IRAs have drawn IRS scrutiny. In McNulty v. Commissioner (2021), the US Tax Court held that a couple who took IRA coins home had received taxable distributions.
What are prohibited transactions?
You cannot use your IRA to benefit yourself or certain close parties, called disqualified persons. They include you, your spouse, your parents and grandparents, your children and grandchildren and their spouses, and the IRA’s fiduciaries. Prohibited moves include:
- Selling metal you already own to your IRA, or buying the IRA’s metal personally
- Using IRA coins as collateral for a loan
- Taking possession of IRA metal for personal use
- Letting the IRA buy metal from, or sell it to, a family member who is a disqualified person
The penalty is severe. If you engage in a prohibited transaction, the account generally stops being an IRA as of the first day of that year, and its full value is treated as distributed to you.
What are the rules for taking money out?
- Before 59 and a half: traditional IRA withdrawals are taxed and usually hit with a 10% penalty, with some exceptions.
- After 59 and a half: traditional withdrawals are taxed as ordinary income. Qualified Roth withdrawals are tax-free once the account is at least five years old.
- Required minimum distributions: traditional gold IRAs must begin RMDs at 73, or 75 for people born in 1960 or later. Roth IRAs have no RMDs for the original owner.
- In-kind distributions: you can take coins or bars instead of cash. The fair market value is what gets taxed.
Your custodian reports the account’s year-end fair market value to the IRS on Form 5498, which is how RMDs are calculated.
What happens to a gold IRA when you die?
Name beneficiaries on the account. A surviving spouse can generally treat the IRA as their own. Most other beneficiaries must empty an inherited IRA within 10 years under rules that took effect in 2020, and some must also take yearly distributions during that period. Beneficiaries can take metal in kind or have it sold.
How do you stay compliant?
- Use an established custodian and depository, and keep their statements.
- Buy only products your custodian confirms are IRA-eligible.
- Move money by direct transfer or direct rollover whenever possible.
- Never take possession of IRA metal until it is formally distributed.
- Track RMDs and keep enough cash or sellable metal to cover them.
For the full setup process, read our complete gold IRA guide.
Frequently asked questions
What are the IRS rules for a gold IRA?
The account follows normal IRA contribution and distribution rules, the metal must meet IRS fineness standards, it must be held by an approved trustee or depository, and you cannot engage in prohibited transactions with it.
Can I keep gold from my IRA at home?
No. IRA bullion must be held by a bank or approved non-bank trustee. Taking it home can be treated as a taxable distribution.
Is there an age limit to open a gold IRA?
No. Since 2020 there is no age limit for traditional IRA contributions, as long as you or your spouse have earned income. Rollovers have no age limit either.
Can I sell my own gold coins to my IRA?
No. Selling your personal metal to your IRA is a prohibited transaction, which can disqualify the entire account.
When do I have to take RMDs from a gold IRA?
Traditional gold IRAs require distributions starting at 73, or 75 if you were born in 1960 or later. Roth IRAs have no RMDs for the original owner.
What happens if I break a gold IRA rule?
Depending on the rule, you can owe tax and penalties on the amount involved, and a prohibited transaction can cause the whole account to be treated as distributed.
Sources: IRS guidance on collectibles, IRS retirement plan investments FAQs, IRS 2026 limits. General education, not tax or legal advice.