How to Move a SIMPLE IRA into a Gold IRA

A SIMPLE IRA is a small-employer plan. It transfers into a self-directed gold IRA via trustee-to-trustee transfer, with one important timing rule unique to SIMPLE plans.

A direct (trustee-to-trustee) rollover moves money straight from your old plan to your new self-directed IRA custodian — you never take possession, so it is never treated as a taxable distribution. An indirect rollover sends the money to you first; you then have 60 days to redeposit the full amount into the new IRA, and the plan typically withholds 20% up front. Miss the 60-day window and the IRS can treat it as a taxable distribution, potentially with a 10% early-withdrawal penalty if you are under 59½. The direct method avoids all of that, which is why it is the standard path for a gold IRA rollover.

• ✓Within the first two years of participation, a SIMPLE IRA can generally only be rolled into another SIMPLE IRA without adverse tax consequences.
• ✓After the initial 2-year period (measured from your first contribution), a SIMPLE IRA can be transferred into a traditional self-directed gold IRA like any other IRA.

• §After the 2-year period, a direct SIMPLE-to-gold transfer is tax-free and penalty-free.
• §Rolling a SIMPLE IRA out before the 2-year mark can trigger taxes plus an unusually steep 25% early-distribution penalty — so timing matters here more than with other accounts.
• §Once in a traditional gold IRA, standard rules apply, with RMDs at age 73 under current rules.

See our deep references on rollover penalties and gold IRA rules for the full rulebook.

1. 01

   Confirm the 2-year window has passed

   Measure from your first SIMPLE contribution; transferring early can be costly.

2. 02

   Open a self-directed gold IRA

   Set up the receiving SDIRA with a metals-capable custodian.

3. 03

   Request a trustee-to-trustee transfer

   Move the SIMPLE funds directly into the new IRA.

4. 04

   Buy and store IRS-approved metals

   Purchase eligible gold held at an approved depository.