Posted on Jun 29, 2021

Satori Traders

How to move 401K to Gold without penalty

The ‘How To’ part of moving a 401K to Gold without penalty involves the simple steps below.

Step 1) Pick a Gold IRA company
Step 2) Open the Gold IRA account
Step 3) Transfer or rollover funds from the 401K to the Gold IRA
Step 4) Choose Gold products to hold in the IRA

Rollover

In a 401K rollover the Investor never takes possession of their retirement funds.

The monies are transferred directly from one retirement account to another so there is no risk of triggering the IRS penalty for early withdrawal.

Transfer

In a 401K transfer the Investor takes possession of their funds and has 60 days to deposit those funds in a new retirement account.

Any funds that aren’t re-invested within the 60-day window will be counted as income and will be subject to early withdrawal penalties.

All of the reputable Gold IRA companies have knowledgeable representatives who can guide you through these straightforward steps.

In addition to 401(k) accounts, it is also possible to transfer these types of retirement accounts into a Gold IRA: Roth IRA, SEP, TSP, 403b, 457b, Annuities, Pension plans.

Because each of these retirement plans have different rules based on age and tax bracket, it will be necessary for you to contact a tax specialist who can address your specific circumstances.

Continue reading to pick up some tips on picking a Gold IRA company.
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