How to Set Up a Gold IRA: Step-by-Step Instructions

Establishing a Gold IRA involves several key steps. First, choose a self-directed IRA custodian who is authorized to manage precious metals investments. Next, fund your account through a rollover from an existing retirement account or a direct contribution. Then, select a reputable precious metals dealer to purchase IRS-approved gold products.​

Once the gold is purchased, it must be stored in an IRS-approved depository to maintain the tax-advantaged status of the IRA. It’s important to ensure that all transactions comply with IRS regulations to avoid penalties. Working with experienced professionals can streamline the process and help you navigate the complexities of setting up a Gold IRA.