Is it possible to transfer an employee 401K or 403B to a gold silver IRA?

The answer to this question depends on the status of one’s 401K or 403B. If the account in question is with:

  • a company, organization or institution that you are currently affiliated with then you cannot change said account into a gold and silver IRA. A reputable gold and silver dealer would advise against trying to make such a move; investors with funds outside of retirement accounts may consider using those funds to purchase physical gold and silver. Although one cannot transfer a 401k to a gold silver IRA if the account is active, other inactive accounts or self-directed IRAs can be transferred.
  • a company, organization or institution that you have RETIRED from then you CAN transfer a 403B to a gold silver IRA, and the same rule applies for 401K accounts. Individuals over 59 1/2 may want to consult a tax advisor about closing the account; this would allow the investor to take physical delivery of their gold instead of having it stored in a depository.
  • a company, organization or institution that has TERMINATED you or if you have CHANGED JOBS then you CAN transfer the 401K or 403B into a Roth, Traditional or Precious Metals IRA. Individuals under 59 1/2 are required to store their gold with Equity Institutional or Goldstar Trust per IRS regulations and early withdraws are heavily penalized.

More information about gold and silver IRAs is available in our free magazine, Real Money. If you have specific questions regarding the transfer of your 401K and/or 403B accounts please contact the Retirement Division at 1-800-394-3337 or send us an email.

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