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Gold IRA Rollover: How to Move a 401(k), 403(b), TSP or IRA

Answer up to three questions to see how money in a 401(k), 403(b), TSP or IRA can move into a gold IRA, who starts the rollover, and what to ask first.

By Jussi Hyvärinen

Published Facts last checked

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Find Your Rollover Route

Answer up to three questions. Nothing you choose is sent or stored.

1. Where is the money now?
2. What's your situation?
3. Roughly how much would you move?

Your likely route

Direct rollover

You ask your former employer's plan administrator to pay the new IRA custodian directly, for your benefit. Nothing is withheld for taxes.

Steps, in order

  1. Step 1 · You

    Open a self-directed IRA that can hold physical metals: a traditional IRA for pre-tax money, a Roth IRA for Roth money.

  2. Step 2 · New custodian

    Gives you its rollover details: who the payment is made out to and where it goes.

  3. Step 3 · Your plan

    Pays the new custodian directly when you request a direct rollover.

  4. Step 4 · Dealer

    Once the money arrives, you choose IRA-eligible metals. The custodian pays the dealer and the metals go to a depository.

Questions for your former plan's administrator

  • Am I eligible to take a distribution now, and under which rule?
  • Will you send a direct rollover to an IRA custodian, and what paperwork do you need?
  • Will the check go to me or to the custodian, and how long does processing take?

Watch for: Don't take a check made out to you. The plan must withhold 20%, and you'd have 60 days to deposit the full amount, including the withheld 20% from other money.

Read the 401(k) to gold IRA rollover guide

Where Augusta fits

Augusta Precious Metals says it does 95% of the gold IRA paperwork with you and works with your custodian to set up the account and storage. Its free info kit explains the process and costs in writing, with no obligation. Augusta's minimum is $50,000 in eligible retirement assets.

Get the Free Info Kit

Or call 888-610-6417

All Routes at a Glance

How money moves from each type of retirement account into a gold IRA, and who starts it
Money is inYour situationRouteWho starts it
401(k)I've left that employerDirect rolloverYou, with your former plan
401(k)Still working there, 59½ or olderIn-service distribution, as a direct rolloverYou, if your plan allows it
401(k)Still working there, under 59½Usually not available while you work thereNo route in most plans
403(b)I've left that employerDirect rolloverYou, with your former plan
403(b)Still working there, 59½ or olderIn-service distribution, as a direct rolloverYou, if your plan allows it
403(b)Still working there, under 59½Usually not available while you work thereNo route in most plans
TSP (federal)I've left that employerPost-separation withdrawal, paid as a rolloverYou, in TSP My Account
TSP (federal)Still working there, 59½ or olderAge-based in-service withdrawal, paid as a rolloverYou, in TSP My Account
TSP (federal)Still working there, under 59½No rollover route right nowNo route until 59½ or separation
IRA (traditional or Roth)AnyTrustee-to-trustee transferYou, with your current IRA provider

How Money Moves Into a Gold IRA

A gold IRA is a self-directed IRA whose custodian can hold physical metals. Money reaches it in one of three ways:

  • A direct rollover from an employer plan such as a 401(k), 403(b), or the TSP. The plan pays the new IRA custodian directly, and the IRS says no taxes are withheld.
  • A trustee-to-trustee transfer from another IRA. The institution holding your IRA pays the new custodian directly, again with nothing withheld, and the transfer doesn't count toward the one-rollover-a-year limit on IRA rollovers.
  • A 60-day rollover, where the money is paid to you first and you deposit it yourself. From an employer plan, 20% must be withheld, and anything not deposited within 60 days doesn't qualify as a rollover.

The route finder above only shows the first two, because they move money from one institution to another without it passing through your hands. Our 401(k) to gold IRA rollover guide works through the 60-day rule and the 20% withholding with a dollar example, and our TSP to gold IRA guide covers the TSP's own process in detail.

Who Does What

  • You decide whether to move money at all, and make the request.
  • Your current plan or IRA provider confirms you're eligible and sends the money.
  • The new custodian holds the IRA. It must be a bank or an IRS-approved nonbank trustee; our guide to gold IRA custodians explains how to check one.
  • The dealer sells the metals. Augusta Precious Metals, for example, says it does 95% of the gold IRA paperwork with you and acts as a liaison with your custodian; our page on how Augusta works covers its steps.
  • The depository stores the metals. The IRS requires IRA bullion to be in the physical possession of a bank or an approved nonbank trustee; our guide to home storage gold IRAs explains what that means in practice.

Before You Request Anything

  • Get every cost in writing. The CFTC and FINRA advise asking for all fees, costs, and the agreed price in writing before you sign. Our gold IRA fees explainer shows what to ask for.
  • Check the company's record. Our gold IRA company ratings put the BBB, BCA, and Trustpilot records of eight companies side by side, and our guide to checking a gold IRA company lists where else to look.
  • Check the custodian. A legitimate custodian doesn't vouch for the dealer or the price, so verify both separately.

What This Page Doesn't Cover

The route finder shows how money can move, not whether it should. It doesn't cover taxes on Roth conversions, early-distribution penalties, or how a rollover fits your wider finances; those are questions for a tax professional or financial adviser. Plan rules vary, so your plan administrator has the final word on what your plan allows. The rules here come from the IRS and TSP sources listed below, each with the date we checked it.

Common questions

Frequently asked questions

Can I roll over my 401(k) or 403(b) while I'm still working?
Only if your plan allows it. The IRS says a 401(k) may permit a distribution when you leave the employer, reach 59½, or have a hardship, and that a 403(b) plan may allow withdrawals when you reach 59½, leave the employer, become disabled, or have a financial hardship. Hardship distributions can't be rolled over to an IRA, so an in-service rollover usually means you're 59½ or older and your plan permits it. Your plan administrator can confirm what applies to you.
Is tax withheld on a gold IRA rollover?
Not when the money goes directly to the new IRA custodian. The IRS says no taxes are withheld on a direct rollover from a retirement plan or a direct transfer from another IRA. If an employer plan pays the money to you instead, it must withhold 20%, and you have 60 days to deposit the full amount. How a rollover affects your own taxes is a question for a tax professional.
Does the route finder tell me whether to roll over?
No. It shows the steps for moving money if you decide to, based on IRS and TSP rules. Whether a gold IRA suits you, and how much of your savings to move, are decisions to make with your own financial and tax advisers.

Evidence

Sources

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Related research

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