Goldco Rollover and Transfer Process
Funding precious metals through Goldco usually means moving money from an existing retirement account into a new self-directed IRA. From another IRA, that is normally a trustee-to-trustee transfer; from a 401(k) or similar employer plan, it is a rollover. Choosing a direct method, where money never passes through your hands, avoids mandatory withholding and the 60-day deadline.
Transfer vs Rollover: The Key Distinction
The two terms are often used loosely, but the IRS treats them differently.
- Trustee-to-trustee transfer. Moves money between two IRAs of the same type, from one custodian to another. It is not a distribution, is not reported as taxable, and is not limited by the once-per-year rule.
- Direct rollover. Moves an eligible distribution from an employer plan, such as a 401(k), 403(b), governmental 457(b), or the TSP, straight to the new IRA custodian. No tax is withheld.
- Indirect (60-day) rollover. The plan or IRA pays you, and you redeposit the amount within 60 days. From an employer plan, 20% is withheld for federal tax, so you must make up that amount from other funds to roll over the full sum. Only one indirect IRA-to-IRA rollover is allowed in any 12-month period.
The IRS rollover chart shows which account types can roll into which. Our pages on direct vs indirect rollovers and the 60-day rule go deeper.
Moving Funds Into Physical Metals, Step by Step
- Review your existing account. Gather a recent statement and find out whether the plan permits transfers or rollovers, and whether partial moves are allowed. Some employer plans restrict rollovers while you still work there.
- Open the self-directed IRA. You complete the new custodian's application. Goldco says it works with all major self-directed IRA custodians, and its FAQ references Equity Trust. Match the account type: traditional to traditional, Roth to Roth.
- Submit the transfer or rollover request. For an IRA transfer, the new custodian usually sends a transfer request to your current custodian. For an employer plan, you typically request a direct rollover through the plan administrator, naming the new custodian as payee "for the benefit of" you.
- Wait for funds to arrive. Timing depends heavily on the releasing institution. Some require a medallion signature stamp, a notarized signature, or their own specific forms.
- Choose and approve metals. Once the cash is in the new account, you select IRA-eligible products and approve the purchase in writing.
- Metals ship to the depository. The custodian pays for the metals, and they are delivered to an independent insured depository.
The Goldco account setup checklist lists the documents you need for each step.
Paperwork the Custodian Handles
Much of the administrative work sits with the custodian. It processes the incoming transfer or rollover, records the purchase of metals, and handles tax reporting. When money leaves an employer plan, the plan issues Form 1099-R reporting the distribution, coded as a direct rollover where applicable. The receiving IRA custodian reports rollover contributions on Form 5498. Keep copies of both for your tax records.
Goldco's specialists generally help coordinate this paperwork, but they are not licensed to give tax or legal advice. If your situation involves after-tax money in a 401(k), company stock, or an inherited account, a licensed tax professional should review it first.
Common Pitfalls to Avoid
- Taking a check payable to yourself from a 401(k) when a direct rollover was possible, triggering 20% withholding.
- Missing the 60-day window on an indirect rollover. The IRS has a limited process for late rollovers, but it is not automatic.
- Doing two indirect IRA rollovers within 12 months.
- Mixing account types, such as moving pre-tax money into a Roth without understanding the tax on conversion.
- Buying non-eligible products inside the IRA.
Our common rollover mistakes page covers more.
Fees During the Move
Your current provider may charge an outgoing transfer or account-closing fee. On the new side, Goldco's published fee statement lists the setup, wire, and recurring costs, along with the IRA minimum.
Gold IRA Fees
The required minimum purchase at Goldco to start a gold IRA is $25,000. Goldco’s preferred Custodian charges a flat annual account service fee which includes a one-time IRA account set-up fee of $50. as well as a $30 wire fee. Annual maintenance is $100, and storage is $150 for segregated storage or $100 for non-segregated storage.
Fees for gold storage and custodianship can vary depending on the company you select to handle these services (required by the IRS, as all IRA assets must be managed by a custodian). Depending on the Custodian, storage fees can range from $10 to $60 per month, or as a percentage of assets, from 0.35% to 1% annually.
Frequently Asked Questions
Is a transfer from my IRA to a Goldco-arranged IRA taxable?
A trustee-to-trustee transfer between IRAs of the same type is not a taxable distribution. Confirm the account types match.
Can I move a current employer plan into metals?
Only if the plan permits in-service distributions. See in-service rollovers and ask your plan administrator.
Can I move only part of an account?
Often yes. Many IRAs and plans allow partial transfers or rollovers; check your plan's rules.
What if I already received a check?
You generally have 60 days to deposit it into an IRA. Read the IRS rollover guidance and speak with a tax professional promptly.