IRA to Gold IRA Transfer
How trustee-to-trustee transfers differ from rollovers when moving an existing IRA into a self-directed IRA.
When moving money from one IRA to another, a trustee-to-trustee transfer can be simpler than receiving the distribution personally. The existing financial institution sends the money directly to the receiving IRA institution.
IRS guidance says no tax is withheld from the transfer amount when an IRA distribution is moved trustee-to-trustee. This is distinct from an employer-plan rollover.
Before the transfer
- Confirm the receiving custodian can hold the intended assets.
- Review transfer and account-opening fees.
- Keep records showing the movement between institutions.
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