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How to Move a 401k to Gold IRA | All You Need to Know

Gold is one of those commodities with long-term steady values. As a result, the inclusion of gold in your retirement investments will be beneficial in periods of economic distress and will diversify your retirement funds.

If you currently have a 401k but want to diversify your portfolio, one of the best ways to do so is to move it over to gold IRAs!

Fortunately, if you deal with the top gold IRA (Individual Retirement Account) firms, converting from a 401k plan to a gold IRA is simple. These top gold IRA businesses are well-known for their IRS-approved precious metals stock and will assist you with your 401k to gold IRA rollover.

401k to Gold IRA Rollover Guide

How to Move a 401k to Gold IRA

There are some steps you must take when deciding to roll over to an IRA. As a result, we will discuss the 401k to gold IRA rollover guide.

Find a Gold IRA Provider

To start, you must find a trustworthy gold IRA provider. Choose a trustworthy IRA company to ensure that your assets are in good hands.

A professional gold IRA provider will walk you through the account opening process and help you select metals that best suit your financial goals, such as gold IRAs, gold bullion, or gold and silver assets.

Choose a Self-Directed IRA Custodian

You cannot keep the gold you have invested in at home; therefore, you must choose a reputable custodian and manage all transaction records efficiently and reliably, as well as keep all documents and provide services.

Open Your Account

Once you have chosen who will manage your account, you have to open your account.

Complete the Rollover

Following that, you must transfer your assets to the new gold IRA account. You can accomplish this directly or indirectly. The funds are deposited straight into the new account in a direct rollover, and the gold IRA companies will assist you throughout the process.

In the case of an indirect rollover, the corporation will send you the cash, and you will be responsible for moving them to your new account. This procedure will require paperwork to demonstrate that the cash was sent correctly.

Purchase the Gold IRA Account

Once you’ve completed the rollover, you can choose between the physical precious metals, purchase them, and send them to a secure depository with the assistance of a gold IRA company.

You must also ensure that you buy gold in accordance with IRS guidelines and with suitable purity standards. Also, make sure you have the transaction record with you.

Best Gold IRA Companies

Below are the best gold IRA companies:

  • Goldco – Best gold IRA staff overall

  • Augusta Precious Metals – Best gold IRA company overall and the most trusted

  • American Hartford Gold – Runner up

  • Birch Gold Group – Extensive precious metal options

1. Goldco


Goldco is the most well-known IRA (Individual Retirement Account) company for gold investments and is consistently listed among the top 10 in the world. As for the past sixteen years, Goldco has established itself as a leading seller of gold and silver IRAs.

Regardless of the tax advantages, the investments are used to fund your account.

Goldco’s approach to establishing a gold IRA is straightforward with polite and competent customer service representatives at your disposal. To complete your purchase, you must fund your new self-directed IRA after signing a contract.

This may be done through a 401k rollover. Precious metal assets can be used to diversify your retirement portfolio.

Goldco’s virtual platform provides customers with access to a variety of company-related reviews and comments from real people. The A+ rating from the Better Business Bureau surely helps Goldco’s stellar reputation.

Furthermore, the superb customer service provided by Goldco ensures that potential investors’ questions are answered. The online chat option is available seven days a week and connects you to industry experts. Additionally, the website combines various informative articles and videos to assist you in making the best financial decisions.

2. Augusta Precious Metals IRA

Augusta Precious Metals

Since 2012, Augusta Precious Metals has been a precious metals enterprise. The firm pledges to focus on its clients’ financial benefits through low expenses and clear pricing. This family-run business is your best bet for precious metal IRAs or non-IRA gold and silver investments.

Augusta Precious Metals has received high marks from credible sources. The company has an A+ rating from the Better Business Bureau (BBB), and a AAA rating from the Business Consumer Alliance. Furthermore, the IRA Gold Advisor virtual platform awarded the organization the “Most-Trusted Gold IRA Company in the United States.”

This organization isolates itself from other gold IRA competitors by implementing many unique features. The company offers a lifetime service guarantee, as well as a wide choice of educational resources.

Notably, having access to materials such as Harvard-trained economists’ educational films on current economic conditions and precious metals data will provide you with practical information that will allow you to realize the logic of saving for your future.

Its IRA formation procedures are simple to follow. Augusta’s helpline gives information on precious metals items, including some of the most popular retirement savings accounts in the United States.

3. American Hartford Gold

American Hartford Gold

American Hartford Gold was created in 2015, and since then, it has assisted tons of people with investment decisions by diversifying their money.

Furthermore, American Hartford Gold will provide you with a variety of gold IRA investment options. You can choose from a large range of gold coins and bars, and they will be of the highest possible quality.

If you’re concerned about the safety of your precious metals, don’t be! AHG has partnered with some of the most dependable custodians and depositories, who are quick to access and treat your mutual funds as if they were their own.

Setting up a gold IRA with AHG allows you to avoid selling your existing 401k account funds and then investing in gold. Rather, you can transfer all of your assets to a newly discovered gold IRA.

It also has an excellent distribution system because carrying precious metals is free of charge. Furthermore, deliveries are insured, so you don’t have to worry about your assets. Under certain conditions, you may not even be billed a storage cost!

Consumers trust American Hartford Gold since it received an A+ rating from BBA and a five-star rating on Trustpilot, where thousands of customers gave AHG’s gold IRA a five-star review and were quite pleased with the service.

Furthermore, AHG was named the number one fastest-growing private company in America in 2021.

4. Birch Gold Group

Birch Gold

Birch Gold Group is a leading gold IRA supplier because of the extensive educational materials it provides. This company, most notably, allows you to purchase precious metals. As a result, it is reasonable to conclude that this company is ideal for first-time gold investors.

Based in California, Birch Gold Group has been in operation for a longer period of time than most of its competitors. The primary goal of the organization when it was created in 2003 was to invest in precious metals IRAs.

Over nearly two decades, the organization has managed to maintain and improve its exceptional global reputation. Birch Gold Group has received near-perfect reviews from sites such as Google, TrustPilot, and others. It’s natural to ask if these ratings are the result of bribes, but these online platforms only award ratings based on user feedback.

Using the custodian recommended by Birch Gold Group, Equity Trust, is most likely the best option for you. This will be where you will deposit your gold or other precious metals, with Delaware Depository Service Company, Brinks, and International Depository Services as your three options to choose from. You should budget more than $100 per month for storage.

What Is a Gold IRA Rollover?

Essentially, you must first determine whether to invest in actual gold, gold provider stock, a gold growth fund, or an exchange-traded gold fund as a potential investor.

Real gold, gold coins, or bullion investments must fulfill the IRS’s purity criteria, and the gold must be maintained with an IRS-approved trustee rather than at home.

Transferring retirement funds to an IRA account is more difficult and expensive. To invest in a broader choice of assets, you’ll need to open an IRA. Then, you’ll need to choose a custodian to help you set up and manage your accounts.

Essentially, the gold IRA custodian you choose must be able to store actual gold for you and be approved to conduct asset custody services by federal and state regulators.

The physical gold or precious metal is then obtained through a broker. Essentially, the trustee may have a relationship with brokers and may be able to refer you to them. Choosing a broker is crucial because the broker is responsible for choosing gold that fits the federal government’s inclusion criteria in an IRA.

The Truth About a Gold IRA Rollover

Gold IRA Benefits

A gold IRA rollover allows you to transfer your retirement funds from your 401k to a precious metals IRA. As a retirement investment, you can use this IRA to purchase physical precious metals. Physical precious metals, such as physical gold and silver coins, bullion, and bars will be available for purchase and safe storage in an IRS-approved depository.

Roth IRA vs. Traditional

You contribute money to a traditional or Roth IRA. When contributing to a Roth account post-tax, it means that you’ve already paid taxes on it that year. The benefit is that you can take your retirement distributions tax-free.

Traditional accounts allow you to contribute money before taxes, which reduces your taxable income now. That implies that if you contribute $6,000 to a traditional IRA in 2020 and do not have a work retirement plan, you can reduce your taxable income by $6,000.

Can I Roll My 401k into Gold IRA?

Fortunately, an existing 401k can be converted into a new gold IRA account or precious metals IRA. However, it is not a free pass, and you must still pay your taxes without any additional deductions.

Before you can transfer your 401k to a self-directed IRA account, you must first leave your current job. You can buy gold and silver with the money you transferred from your 401k to your new IRA retirement account.

Difference Between a Gold IRA Rollover vs. Gold Transfer Funds

A rollover is only possible under certain conditions, such as:

  • The administrator of your employer’s (or sponsoring corporation’s) retirement plan has changed.

  • You have resigned from the firm in charge of your funds.

  • Your company’s pension plan has undergone significant adjustments.

Rollovers are classified into two types: direct rollovers and indirect rollovers. When assets are transferred from a qualifying retirement plan or 401k to an individual retirement account, this is referred to as a direct rollover (IRA).

In this format, a purchase is supplied and moves directly from one source to the next. You will not be able to use the commodity until it has been transferred.

However, the 60-day rollover strategy is generally characterized as an indirect rollover. Less than 60 days after the withdrawal, the investment is moved to the IRA.

Your investment may send you checks regularly to your retirement savings account, from which you can sign a new check and transfer funds to your new IRA operator.

Benefits of Rolling Over a 401k to an IRA

Fee Reductions

Rolling your money into an IRA will typically reduce your administration and administrative costs, which can eat away at your investment returns over time. The funds in the 401k plan may be more expensive than the average for their asset class. In addition, gold IRA companies that handle the plan can charge a basic yearly fee.

Larger 401k plans with millions of dollars to invest have access to institutional-class funds that are less expensive than retail competitors. Of course, your IRA will have expenses; but, you will have more choices and control over how, where, and how much you invest in gold and silver markets.

Account Fees Are Expensive

Since 401k offers group buying, this feature allows for lower expenses. Furthermore, you must pay additional fees for a precious metal IRA, including management fees, storage fees, and the custodian charge.

However, because a 401k account does not allow for the investment of precious metals, there are no such additional fees, and the overall account fee is reduced.

Strict Rules for Withdrawal Tax

Under certain conditions and circumstances, you may be able to take tax-free withdrawals from your 401k. You could also be eligible for favorable tax treatment if you invest in your company’s stocks through a 401k. With an IRA, however, there are standard rules for withdrawal tax.

More Financial Incentives

Financial institutions are keen to conduct transactions with you. They may offer you money in exchange for bringing them your retirement accounts. If the payment is not in cash, some corporations may include free stock transactions as part of the package.

Relaxed Laws

Understanding the criteria of your 401k plan can be challenging because gold IRA rollover companies have a lot of leeway in how they set up their programs.

On the other hand, the IRS standardizes IRA regulations, and an IRA at one financial institution is subject to the same requirements as an IRA at another.

The IRS distribution tax requirements are a frequently overlooked distinction between a 401k and an IRA. According to the IRS, 20% of 401k distributions must be withheld for federal taxes.

Last Words – 401k to Gold IRA Rollover

After thoroughly reviewing the various companies that offer rollovers for retirement savings in this gold IRA rollover guide, it has been determined that American Hartford Gold is the best of the four. The company has excellent customer ratings and is a dependable firm that simply aims to provide the best gold IRA investments.