What Is a Gold IRA Rollover? Comprehensive Guide & Top Companies to Make Your Investment Easier

James McCollum

Even before many people knew what saving and retiring meant, gold was already a valuable resource for all humans. You only have to look at its main characteristics: it is a rare precious metal, never corrodes, and is tangible.

Moreover, gold has been so popular that it has been used in a variety of ways, including coins, jewelry, and decorative objects.

However, despite dating back centuries, this high-value asset is still coveted nowadays, particularly among those who are saving for retirement and looking for different options to diversify their portfolios.

Consequently, gold IRAs have also become an option almost everyone should consider if they plan to invest before retirement.

When you open one of these accounts and have to put money there to start buying your precious metals, you have two options: a rollover or a transfer. Today, you will learn everything you need to know about the first alternative!

What Is a Gold IRA Rollover?

Gold IRA Rollover

Gold IRA rollovers have gained popularity as a way to fund precious metals retirement accounts because of all the benefits they offer. However, before delving into them, it’s essential to define what it is.

Essentially, the term defines a process that allows you to move funds from an existing retirement account, whether it’s a traditional IRA or a 401(k), to a gold or silver IRA.

When you plan to open a precious metals IRA through some of the more popular gold IRA companies, you cannot use your personal savings to fund it.

Therefore, you must transfer or roll over the funds you already have in another qualifying retirement account. Additionally, those considering a gold Roth IRA can only rely on rollovers because conversions are not allowed.

However, rolling over an existing retirement account into a gold IRA is simple. You could even do it over the phone or on the Internet! Therefore, it’s a great option if you don’t want to spend years before buying your assets.

Overall, rolling over an existing account into a gold IRA allows you to purchase physical gold to diversify your portfolio and protect your retirement savings against market risks.

Remember that if you invest in precious metals, you are acquiring assets with intrinsic value that don’t depend on the stock market’s performance and don’t succumb to its volatility. However, there’s a lot more to learn about this process. Find more essential details below!

Types of Rollovers Gold IRA Companies Offer

As mentioned, you can move your funds from a qualifying retirement account to a precious metals IRA through a rollover.

However, in many cases, the process is only available when you retire or change jobs and when the gold and silver provider you choose has that option available. Sometimes, when you are 59.5 years old and still working for the same company that allowed you to create your 401(K), you will be able to complete a partial rollover.

Moreover, there are two main types of rollovers you should be aware of in order to make the best decision and ensure that the process goes smoothly. Those are:

  • Indirect rollover: If you choose this option, your current custodian must write a check you can deposit into your bank account. Within 60 days, you must redeposit those funds into a new precious metals IRA.
  • Direct rollover: When you choose this alternative, your custodian must write a check payable to your new custodian, which means you have to choose one before starting the process.

If you want to determine the right type of rollover, you should call your current gold IRA custodian or seek help from a financial advisor.

How Does It Work?

How Gold IRA Works

The first step you need to take is to open your new account. Therefore, you must choose a reliable precious metal IRA company and follow its guidelines.

Once your new account is open, you must contact the custodian or company that holds your existing retirement funds and give them its number.

If you meet all the rules, at this point, the funds should be moved to your new account. However, you should keep in mind that the entire process can take from a couple of days to several weeks depending on the company you choose.

Also, remember that there may be some tax implications associated with a rollover. Therefore, before trying to transfer funds from one retirement account to another, seek professional advice from a tax expert and try to find the answer to all your questions.

Differences Between a Gold IRA Rollover and Transfer

After you open precious metals IRAs, you have two options to fund them: a rollover or a transfer. As its name implies, a transfer allows you to move your funds from one account to another through a secure and risk-managed process.

A precious metal IRA rollover is also safe, but you must meet some conditions and follow several rules. If you fail to comply with any of them, you could be subject to penalties imposed by the Internal Revenue Service (IRS).

However, contrary to popular belief, there are only a few rules and all are easy to follow.

Now, you may have another question. What is the best option to fund a gold IRA? The answer depends entirely on what you are looking for and your preferences.

Therefore, you should talk to a specialist or advisor in order to make the best decision and protect your retirement savings.

However, here are some differences that you can consider to determine which option might be more beneficial for you.

Gold IRA Transfers

  • When you transfer your funds, you do not have to comply with a 60-day rule
  • You are not subject to penalties if you make early withdrawals
  • Transactions are not taxable
  • You don’t have transfer limits per year
  • There are no withholding taxes that may affect your savings

Gold IRA Rollovers

  • You must comply with the 60-day transfer rule, meaning that you are required to deposit the funds from your existing account into your new gold IRA within two months.
  • When you roll over your existing account into a new gold IRA, the distributed funds are subject to early penalties of up to 10% (if you are over 59.5, there aren’t early withdrawal penalties).
  • Distributed funds may be considered taxable as your ordinary income if you don’t deposit them into a new account within 60 days.
  • You can only make a rollover to a new gold IRA per year.
  • As long as you roll over your funds from another personal IRA to a new gold IRA, they’re not subject to withholding taxes.

As you can see, Gold IRA rollovers are stricter and a bit more complicated. However, when you choose this option, your funds go to your bank account, and you have 60 days to move them to your new account and purchase gold, silver, or other precious metals.

On the other hand, when you transfer funds from your existing retirement account to a new gold IRA, you can’t touch the money.

Actually, it’s transferred from one custodian to another custodian, as the third parties run the entire process. However, transfers are not available to everyone, as it’s only possible to fund some accounts through a rollover.

That’s why you should thoroughly analyze both options with an expert in precious metals IRAs to determine which one best fit your retirement investment strategy.

Other Aspects You Should Consider

IRA Rules

Also, there are other aspects related to gold IRA rollovers that you should consider in order to pick the best option.

IRS Rules for Gold IRA Rollovers

Gold IRA rollovers are controlled by several IRS rules and regulations. As mentioned, if you plan to fund your new account using this alternative, you have only 60 days to deposit the money you receive.

That period starts running from when you receive the check or the funds from your custodian until you deposit it in the new gold IRA company you choose.

If the deposit is not completed within this period, your money may be subject to an early withdrawal penalty of up to 10% if you are aged less than 59.5 years since it becomes taxable income.

Also, remember that there’s no tax withholding when you roll over your funds from an existing IRA to a new gold IRA, but you can only run this process once a year.

Gold IRA Rollovers Fees

Although the government doesn’t impose fees on gold IRA rollovers or transfers, that doesn’t mean you will not be charged for some transactions. When you move your funds from one account to another, you use the services of a third party, be it a gold IRA company or a custodian.

These “administrators” can charge fees to those who move their funds from one account to another through rollovers or transfers since opening a precious metals IRA involves some fees, too.

All custodians and gold IRA companies are different. Therefore, each of them charges a different fee for their services. Do you want to save or make sure you are paying a fair price? Before you start the process, review their rate structure.

Remember that a reputable gold IRA company must provide all this information upon request! If you can’t check their pricing structure, you won’t know if there are any hidden fees and could end up paying a lot more money than you owe.

Short Guide on Gold IRA Account Rollover

Gold IRA Account Guide

What do you think? Are you ready to put money into a new precious metals IRA to start buying gold and silver?

If you consider that rollovers are the options you need to move your funds from your existing account to your new gold IRA account, you must follow the steps described below.

Find a Reputable Gold IRA Company

Remember that all gold IRA providers work differently and have different options, types of accounts, assets, and services. Therefore, before choosing one, you must be clear about your needs and objectives.

If you don’t want to buy only gold but are looking for other precious metals, you should make sure that the company you choose has a broader product catalog. In addition, you should check if the gold IRA provider can make rollovers.

It’s also essential to define what type of account you want based on your tax preferences. There are two main types of individual retirement accounts, including traditional gold IRAs and Roth gold IRAs. The former uses pre-tax income, while the latter uses post-tax income.

What is the best option for you? Answer that question and search for a gold IRA company accordingly.

Pick a Gold and Silver Custodian

Once you have analyzed the best gold IRA providers and chosen the option that suits you best, it’s time to pick a custodian. Again, each one works differently and charges different fees for their services.

Therefore, before choosing one, you should know if they can do rollovers and the cost of the process. Also, remember that you need a custodian who works with self-directed IRAs in order to store your physical precious metals.

If you want to invest only in gold and silver, you still have to find and select a custodian that offers precious metals accounts. Furthermore, you must ensure they have full rights over the depositories or premises where you plan to store your goods.

Open Your Precious Metals IRA

Are you already sure you can start the process because you chose a reputable gold IRA custodian? If so, it’s time to open your new account! In this step, you should also prepare to submit the necessary documentation to your current administrator and the gold IRA company you chose.

After that, your funds are transferred by check or online to your account, and you have 60 days to deposit them into a new gold IRA where you can store the precious metals of your choice.

Execute the Rollover

Do you already know what precious metals you want to buy? At this point, your gold IRA provider should send an invoice to your custodian expecting payment. Once the fee is paid, your precious metals are sent to a safe storage facility.

You must ensure that the dealer has released your funds and check if your selected custodian’s depository has received them. Also, don’t forget to ask for the necessary documentation. You must be sure that you receive proof of ownership!

Purchase the Assets

If the gold IRA provider received the funds, the next step is to purchase the precious metals you want to have in your gold IRA account. As long as you choose a company with a broad catalog, you can use your funds to purchase various types of assets.

From gold bullion to silver coins to palladium products, there are plenty of things you can invest in for your retirement. If you choose the most popular of all, gold, you must make sure that it’s at least 95% pure and complies with IRS rules since buying minted coins and other collectibles are subject to some regulations.

Best Gold IRA Companies for Rollovers

Now that you know all the details about rollovers, you should know how to find the top gold IRA companies to execute the process and take advantage of all its benefits.

Fortunately, you can find that information here! Read on to learn about the best options on the market when it comes to gold IRAs.

Goldco: Best Option for Gold IRA Rollovers

Goldco

If you want to find a reliable gold IRA company to make a rollover and buy gold and silver coins, Goldco is one of the best options out there. This company offers many benefits to retirement account holders, but it stands out among competitors for the high level of protection it offers.

Goldco can move your assets from your existing retirement account to a new precious metals IRA to help you diversify your retirement portfolio. In addition, it offers direct sales to its clients.

In other words, if you choose Goldco, you can be sure that you will be able to buy gold bullion or silver coins from a reliable dealer. In addition, this company offers a wide range of products!

—> Read Our Full Review.

GoldCo’s Products

Among other advantages, Goldco allows you to fund your gold IRA with a wide variety of currencies if you decide to invest in one. This provider has partnered with different reputable mints to provide their clients with premium gold and silver coins.

Gold Coins and bars

If you prefer to invest in gold bullion, these are some products that you can acquire with Goldco:

  • Gold American Eagle Gold coins
  • Gold Maple Leaf coins
  • Gold Freedom and Hope coins
  • Gold bars

Silver Bullion

Do you prefer silver products to fund your retirement account? You can also get some if you choose this option. These are some of the available assets:

  • American Eagle silver coins
  • Maple leaf silver coins
  • Lucky Dragon silver coins
  • Silver bars

Pros

Goldco is one of the best gold IRA companies you can find in the market for several reasons.

The most important is that the company adheres to all the regulations set by the IRS, so you can be sure that all the products you buy for your precious metal IRAs will not bring you problems.

Additionally, the accounts you open with Goldco are backed by gold, silver, platinum, and palladium, meaning you can greatly diversify your portfolio to protect your retirement savings as that important period approaches.

Goldco also offers world-class customer service and advice to help you make the best investment decisions.

Still don’t know what precious metals you should acquire to fund your gold IRA? Don’t worry! A representative will walk you through all the available options, helping you pick one that benefits your long-term investment strategy.

This gold IRA company also works with a reputable depository (Sterling Trust) and custodian (Equity Institutional) to ensure your gold and silver assets are protected.

Finally, Goldco allows you to fund your new gold IRA with the money you already have in your retirement account. In other words, you can do a rollover!

Cons

Although Goldco offers competitive prices and promotions for those who choose their services to make gold IRA transactions, there may be hidden fees, and you need a quite high minimum investment if you want to open an account there.

Is It Legit?

Yes, it is! Goldco is considered one of the best gold IRA companies on the market because it truly helps its clients protect the assets they buy and store in their gold and silver accounts.

In addition, this company has received an A+ rating from the Better Business Bureau and has obtained a Triple-A score according to the Business Consumer Alliance’s parameters.

All these entities rate gold IRA provers based on client feedback over reliability and business conduct. Therefore, you can be sure that Goldco is a legitimate option.

Augusta Precious Metals: Experts in Gold IRA Rollovers

Augusta Precious Metals

As a second runner-up, there’s Augusta precious metals. It’s considered among the most popular gold IRA companies in the market, becoming a provider of physical gold and other high-value products to those who want to diversify their investment portfolio.

Augusta Precious Metals was founded in 2012, which means that it has been offering gold coins and other precious metals to its customers for over a decade.

If you plan to roll over your funds in your existing accounts to gold IRAs to purchase precious metals and protect your assets from inflation or other factors, this company is one of the best options.

In addition, Augusta Precious Metals has one goal: to make creating and funding gold IRAs easy! Therefore, you can be sure you will not lose time if you choose this provider.

—>Read Our Full Review.

Pros

For over a decade, Augusta Precious Metals has been considered one of the best gold IRA companies out there. That’s not a coincidence. This provider offers many benefits to its customers.

First, opening a gold IRA with this company is a piece of cake. Also, if you have questions, you only have to contact one of its agents, as it offers consultations!

In addition, those who decide to open gold IRAs with Augusta can be sure that there will be an expert on their side, helping them at every step to make the process easier.

Once your account is open and funded, this company acts as a mediator between you and the custodian or depositary you choose. In other words, it can handle your entire precious metals IRA if you need it.

As another of its advantages, Augusta Precious Metals offers lifetime client support. If you have any questions or need assistance, just call one of their several phone numbers or contact their agents through their website.

Cons

Since not everything is rosy, Augusta also has some disadvantages. These are:

  • If you are looking for silver, platinum, and palladium options, this is not the option for you, as these products are limited
  • You can’t shop online
  • The minimum investment is too high

Is It Legit?

Yes, of course. Augusta is a gold IRA company with a high reputation for its comprehensive services and reliable processes. All its transactions are held in compliance with strict IRS standards.

American Hartford Gold: Great Reputation in the Precious Metals IRA Market

American Hartford Gold

When you want to roll over the funds in your existing IRA to a precious metals IRA, another option you can find is American Hartford Gold.

There are many reasons why it’s considered one of the top gold IRA companies, but its biggest draw is its high-quality customer service.

If you need advice to buy physical gold and diversify your portfolio to protect your retirement savings against market fluctuations, this gold IRA company is for you. It allows you to contact a support team available around the clock to answer all your questions and help you find the best solutions.

Also, the staff does not pressure you to invest in gold coins. Instead, they provide valuable information to help you make well-informed decisions that can benefit your retirement investment strategy.

Pros

This gold IRA company offers multiple benefits to its clients. Besides having a catalog with excellent products if you can buy physical gold and great customer service, American Hartford Gold has options for small investments.

The minimum investment amount is $10,000. Also, this gold IRA provider has a variable fee structure. The more you use your IRA, the lower the costs!

Cons

Unfortunately, despite promising low fees and a minimum amount, you cannot find pricing information on this gold IRA company’s website.

If you want to get a price list, you must contact one of its representatives.

Also, transactions can be a bit slow compared to other gold IRA companies, and there is no shipping option if you buy products outside the United States.

Is It Legit?

As mentioned, American Hartford Gold is one of the most trusted and popular gold IRA companies you can find on the market. Besides complying with all the guidelines set by the IRS, this provider has been serving those who hope to invest in precious metals for more than a decade.

American Hartford Gold also allows its clients to roll over their funds from existing retirement accounts, such as traditional IRAs, to new gold IRAs.

However, unlike other companies that do the same thing, it has no hidden fees and is transparent about its pricing from the start.

Noble Gold Investments: First-class Consumer Support

Noble Gold

Are you looking for a premier gold IRA company to roll over your funds into a new account and purchase precious metals? Noble Gold may be the perfect solution for you!

This provider has earned a place among the best gold IRA companies due to its hard work in helping investors.

If you are looking for variety in precious metals, Noble has everything you need since its extensive catalog has gold, silver, palladium, and platinum options.

In addition, there are other benefits that you can enjoy.

Pros

Besides offering multiple precious metal coins you can choose from, Noble has a customer support team available around the clock, 365 days a year.

Therefore, no matter what time it is or where you are, you can contact their agents if you have any questions or need help.

Furthermore, this company allows you to transfer and roll over your funds from your existing account to your new gold IRA through a straightforward process.

Noble also has competitive gold prices. Some investors say its rates are among the best in the precious metals market. Therefore, it’s an excellent option if you want to save.

Cons

To pick the best company for your rollover, you must also analyze its cons. These are the disadvantages you can face if you choose Noble:

  • Although it’s among the top gold IRA companies, Noble is relatively new. It was founded in 2016.
  • The company does not offer storage facilities outside the US.
  • Its website has no pricing information.

Birch Gold Group: Wide Selection of Precious Metals

Another of the best gold IRA companies you can find on the market is Birch Gold, a provider that has earned a high reputation for its excellent service when it comes to opening a gold IRA.

Over the years, Birch Gold Group has built a solid reputation as a transparent and reliable gold IRA provider. In addition, it’s one of the companies that allows its clients to make rollovers from existing retirement accounts.

Thanks to its comprehensive services, multiple storage options to suit the needs of all its clients, and extensive catalog of precious metals, Birch Gold Group has remained among the best gold IRA companies for more than a decade.

Also, unlike other companies, this provider has all the information about its fees and prices on its website. If you want to know how much money you need to open a gold IRA there, you should not call an agent or wait years to get an answer by email. Instead, you just have to go to its website and check its rate structure.

Birch Gold Group offers excellent prices for those who want to buy precious metals. However, you should keep in mind that its flat rate may not be for you if you make minimal investments, as you could end up paying a lot of fees.

Pros

As mentioned, there are several reasons why Birch Gold Group is among the most reliable gold IRA companies, and here are some of them.

Firstly, this company offers multiple options regarding depositary facilities and custodian companies. In other words, you can choose where to store your assets to keep them close to you and protected.

Also, all their fees and costs are on their website, meaning you won’t have to pay extra money for any hidden fees. It’s also helpful if you want to save time when defining your investment strategy.

As another of its advantages. Birch Gold Group offers its clients a wide catalog of products, with options ranging from pure gold to silver, platinum, and palladium.

Finally, its flat structure is ideal if you plan to make a bulk purchase or are a frequent buyer of precious metals.

Cons

While Birch Group offers many advantages, there are also some cons to consider before determining if this is the gold IRA provider you should choose.

This company’s flat structure can benefit frequent gold buyers and those planning to make large investments or buy assets in bulk.

However, it could be a disadvantage for infrequent investors or those planning to buy precious metals in small amounts.

Also, unfortunately, the process to open a gold IRA with Birch Gold Group and purchase precious metals is long and can take up to a month.

Products

This company takes pride in offering a wide catalog of precious metals to those who hope to open a gold IRA and fund it with high-value assets. Some of the options you can find there are:

  • Gold American Buffalo
  • American Gold Eagle (bullion)
  • American Gold Eagle (proof)
  • South African Krugerrand
  • Gold Rose Crown Guinea
  • Canadian Gold Maple Leaf
  • Gold bars and rounds
  • American silver eagle
  • America the Beautiful Silver Series
  • Canadian Silver Maple
  • Morgan Silver Dollar
  • Silver Rose Crown Guinea
  • American Platinum Eagle
  • Platinum bars and rounds
  • And more!

Final Thoughts: Working With the Best Gold IRA companies

Rolling over your funds from your existing account to a new gold IRA to diversify your retirement investment portfolio and purchase gold, silver, and other precious metals is one of the best decisions you can make.

Precious metals IRAs provide many benefits as you approach your golden years, including protection against inflation.

Despite being an asset that dates back years, gold has an intrinsic value that doesn’t succumb to fluctuations in the stock market. Therefore, you can be sure that your investment is always protected.

Also, since it’s a self-directed individual retirement account, a precious metal IRA can give you some tax benefits.

Whether you want to buy physical precious metals because you are a collectible enthusiast or you just want to have a more diverse portfolio with the best options on the market, a rollover may be what you need.

If you choose the right Gold IRA company, you can invest your funds in a variety of precious metals, from gold to silver, platinum, and palladium products.

Also, the best gold IRA companies, like Goldco, offer advice to help you make the right decisions and choose the best products in the precious metals industry.

Gold IRA investments have come to change the way people save for retirement. Do you want to take advantage of this opportunity to have the peace of mind you deserve after years of hard work? Don’t hesitate to contact an advisor and start the process now!

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