Rules Reference
Gold IRA rules: approved metals, storage & prohibited transactions
What the IRS actually requires inside a gold IRA — which metals qualify, where they must be stored, what counts as a prohibited transaction, and why the home-storage pitch is a myth.
What qualifies
IRS-approved metals & purity standards
A gold IRA can hold four metals, each with a minimum fineness set by the IRS. The metal must come from an approved mint or refiner. Collectible and graded 'numismatic' coins are generally excluded.
| Metal | Min. fineness | Note |
|---|---|---|
| Gold | 99.5% (.995) | American Gold Eagle is a long-standing statutory exception. |
| Silver | 99.9% (.999) | e.g. American Silver Eagle, .999 bars. |
| Platinum | 99.95% (.9995) | Approved-mint coins and bars only. |
| Palladium | 99.95% (.9995) | Approved-mint coins and bars only. |
Common eligible products include American Gold Eagles, Canadian Gold Maple Leafs, and .9999 bullion bars from approved refiners.
Custody
Where metals must be stored
IRA metals must be held by an approved trustee or depository — never personally by the account owner. Reputable custodians use insured, audited facilities such as the Delaware Depository, Brink's, or Loomis, holding the metal in your name (segregated or allocated). You take physical possession only as a distribution, typically at retirement.
Watch out
The home-storage 'gold IRA' myth
Home storage is not a loophole
Self-dealing
Prohibited transactions
A prohibited transaction is using IRA assets for personal benefit — self-dealing. Examples include taking possession of the metal, selling personal metal to your own IRA, or storing IRA metal at home. A prohibited transaction can disqualify the entire IRA, making the full balance immediately taxable. The custody and storage rules above exist precisely to keep you on the right side of this line.
Later on
RMDs on a gold IRA
Traditional gold IRAs follow standard RMD rules, with distributions beginning at age 73 under current rules. Because metal is not cash, you satisfy an RMD by selling a portion or taking an in-kind distribution of physical metal. Roth gold IRAs have no lifetime RMDs for the original owner.
Questions
Gold IRA rules FAQ
What metals are allowed in a gold IRA?+
Gold, silver, platinum, and palladium that meet IRS minimum fineness standards (99.5% for gold, 99.9% for silver, 99.95% for platinum and palladium), produced by an approved mint or refiner. The American Gold Eagle is a specific statutory exception to the gold fineness rule. Collectible, graded, or 'numismatic' coins are generally not eligible.
Can I store my gold IRA metals at home?+
No. IRS rules require IRA metals to be held by an approved trustee or depository, not personally by the account owner. So-called 'home storage gold IRA' or 'checkbook LLC' schemes are widely viewed as risky and can be treated as a taxable distribution of the entire account. Reputable custodians use approved depositories such as Delaware Depository, Brink's, or Loomis.
What is a prohibited transaction in a gold IRA?+
A prohibited transaction is self-dealing — using IRA assets for personal benefit. Examples include taking personal possession of IRA metals, buying metal you already own and selling it to your IRA, or storing the metal at home. A prohibited transaction can disqualify the IRA and make the full balance taxable, so the rules around custody and storage exist to prevent it.
Do gold IRAs have required minimum distributions?+
Traditional gold IRAs follow the same RMD rules as other traditional IRAs — distributions begin at age 73 under current rules. Because metals are not cash, you either sell a portion to satisfy the RMD or take an in-kind distribution of the physical metal. Roth gold IRAs have no lifetime RMDs for the original owner.
This content is for general education only and is not financial, tax, legal, or investment advice. Investing in precious metals carries risk, including loss of principal. Consult a licensed professional before making decisions. Rules change and details vary — confirm specifics with a licensed tax professional and your chosen custodian before investing.
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