The Complete Texas Gold IRA Rollover Guide
Affiliate disclosure: we may earn a commission when a reader opens an account through links on this page. The commission has no effect on what you pay or on what we publish. We are not a financial or tax advisor; consult a licensed advisor for your situation. Last reviewed June 2026.
Short on time? The essentials
- A rollover into a precious-metals IRA needs a self-directed IRA, a qualified custodian, an IRS-approved depository, and metals that meet IRC 408(m)(3) fineness rules.
- Direct rollover (trustee-to-trustee) avoids the 20% mandatory withholding and the 60-day clock. Indirect rollover triggers both.
- Annual IRA contribution limits for 2026: 7,500 dollars, plus a 1,100 dollar catch-up at age 50 or older. Rollovers are separate from these limits.
- Required minimum distributions begin at age 73 if you were born between 1951 and 1959, and at age 75 if you were born in 1960 or later.
- Texas has no state personal income tax, so any taxable IRA distribution is federally taxed only.
- The Texas Bullion Depository in Leander stores IRA metal through Lone Star Tangible Assets, which received IRS nonbank-trustee status in 2023. Equity Trust Company is the first custodian wired in.
- Home storage of IRA gold is not allowed. The 2021 McNulty v. Commissioner decision confirmed it triggers a full distribution.
On this page
- Why Texas changes the rollover math
- The Texas gold IRA rollover in six steps
- Direct rollover vs indirect rollover
- Eligible source accounts for Texans
- What gold (and other metals) qualify
- Where the metal lives, including the Texas Bullion Depository
- The fee stack on a Texas rollover
- Check your account is eligible
- Worked example: a Houston 150,000 dollar 401(k) rollover
- When a Texas gold IRA rollover is a bad idea
- Texas gold IRA rollover FAQ
Why Texas changes the rollover math
Federal IRA rules do not change at the state line. The same IRS code, the same 60-day window, and the same fineness thresholds apply to a retiree in Houston and to one in Boston. What changes is the wrapper around those federal rules: state income tax, and the depository options inside the state.
Texas has no state personal income tax. That is set in Article 8, Section 24 of the Texas Constitution. Any taxable IRA distribution, whether a required minimum distribution, an early withdrawal, or a Roth conversion, is taxed by the IRS only. There is no Texas state layer on top.
For a Texan facing an indirect rollover that becomes a distribution, the math is cleaner than it would be in California or New York. Cleaner does not mean painless. A 10% federal early-withdrawal penalty and federal ordinary income tax still apply if the rollover breaks.
The second wedge is the Texas Bullion Depository, the only state-administered precious-metals depository in the United States. It sits on a 10-acre campus in Leander, just north of Austin, and accepts IRA assets through its operator Lone Star Tangible Assets. We unpack the storage angle below.
The Texas gold IRA rollover in six steps
Every Texas gold IRA rollover follows the same federal sequence. The numbers and forms differ by source plan, but the shape of the process is consistent across providers.
- Open a self-directed IRA. A precious-metals IRA must be a self-directed IRA held by a qualified non-bank trustee or self-directed IRA custodian. Equity Trust Company, STRATA Trust, and GoldStar Trust are common picks for Texas residents.
- Fund the new IRA. Choose direct rollover, trustee-to-trustee transfer, or 60-day indirect rollover. The first two avoid the 20% withholding and the 60-day clock. The third triggers both.
- Pick the dealer and metals. The dealer sells IRS-approved bullion or coins that meet IRC 408(m)(3) fineness rules. The custodian, not you, sends payment from the IRA.
- Confirm the depository. Specify where the metal is to be stored: a private depository like Delaware Depository or Brinks, or the state-run Texas Bullion Depository in Leander through Lone Star Tangible Assets.
- Ship and vault. The dealer ships the metal direct to the depository. The custodian books it inside your IRA. You receive a confirmation and an inventory line.
- Report on the right forms. The releasing plan issues Form 1099-R. The receiving custodian issues Form 5498. A trustee-to-trustee transfer between like-kind IRAs does not generate either form.
Direct rollover vs indirect rollover
The IRS recognizes two ways to move money out of an employer plan into an IRA, and a separate process for IRA-to-IRA transfers. The difference between them is small on paper and large in practice.
A direct rollover sends the money trustee-to-trustee. The old plan cuts a check or wires funds to the new IRA custodian. You never touch the cash. No federal withholding applies.
An indirect rollover sends the money to you first. The releasing plan must withhold 20% for federal tax (per IRC Section 3405). You then have 60 days to redeposit the full amount, including the withheld 20% out of your own pocket, into the new IRA. Miss the deadline and the IRS treats it as a taxable distribution.
A trustee-to-trustee transfer applies when both accounts are IRAs (for example, traditional IRA to self-directed IRA). It is the cleanest move of all: no 1099-R, no 60-day clock, and no annual cap on the number of transfers you can do.
The IRS one-rollover-per-year rule applies to indirect IRA-to-IRA rollovers only. Direct rollovers and trustee-to-trustee transfers are not capped.
Eligible source accounts for Texans
Most Texas retirement accounts can fund a gold IRA, but the path differs by plan. Active employees often face an in-service withdrawal limit that blocks a rollover until separation, age 59 and a half, or another qualifying event.
| Source account | Typical rollover path | Texas-specific note |
|---|---|---|
| Traditional IRA, SEP IRA, SIMPLE IRA | Trustee-to-trustee transfer | Clean. SIMPLE IRA: 2-year waiting period from first contribution. |
| Roth IRA | Trustee-to-trustee transfer to self-directed Roth | Stays Roth. Texas adds no state tax layer at distribution. |
| Former-employer 401(k) | Direct rollover | Available after separation. Confirm the 401(k) is non-Roth or roll into matching IRA type. |
| Current-employer 401(k) | Usually blocked until 59 and a half | Some plans allow an in-service withdrawal of post-tax or rollover-contribution sub-accounts. |
| 403(b) (public schools, non-profits) | Direct rollover after separation | Texas educators often combine this with a TRS lump-sum refund question. |
| 457(b) (state and local government) | Direct rollover after separation | Governmental 457(b) waives the under-59-and-a-half penalty on distributions, but the IRS reapplies it once the money sits in an IRA. |
| TSP (federal employees, military) | Direct rollover via TSP Form TSP-99 or TSP-70 | Roth TSP rolls into a Roth IRA; traditional TSP rolls into a traditional IRA. |
| Pension lump sum (TRS, ERS, TMRS, TCDRS, municipal) | Direct rollover of refund of member contributions | Defined-benefit annuity payments cannot be rolled. Confirm refund rules with each plan. |
| Annuity | Depends on tax type | Qualified annuities (held inside an IRA or 401(k)) can roll. Non-qualified annuities cannot. |
Sources: IRS Publication 590-A (2025), IRS Topic 413, IRS Topic 558, plan documents from TRS Texas, ERS Texas, TMRS, TCDRS. Checked June 2026.
What gold (and other metals) qualify
The IRS bans collectibles inside an IRA under IRC Section 408(m). The same statute carves out an exception for bullion and certain coins that meet a fineness threshold. Below that line, the metal cannot sit inside the account.
Two coins are statutory exceptions inside that rule. The American Gold Eagle is IRA-eligible by name even though its purity is 91.67%, below the 99.5% gold floor. The American Silver Eagle gets the same treatment for silver.
Bars must come from a refiner or assayer approved by NYMEX, COMEX, LBMA, or be a product of a national government mint. Common eligible names include PAMP Suisse, Credit Suisse, Valcambi, the Royal Canadian Mint, and the Perth Mint.
Common eligible coins for a Texas gold IRA: American Gold Eagle (statutory), American Gold Buffalo (99.99% gold), Canadian Gold Maple Leaf (99.99%), Austrian Gold Philharmonic (99.99%), and Australian Kangaroo (99.99%).
Several common coins are not eligible. The South African Krugerrand sits at 91.67% gold with no statutory exception. Pre-1965 US 90% silver coins miss the silver floor by a wide margin. Graded or numismatic coins held for collectible value are excluded under the collectibles rule, as are rare coins priced by rarity rather than spot metal value.
Where the metal lives, including the Texas Bullion Depository
Once the dealer ships the metal, an IRS-approved depository takes custody. The IRA owner cannot take personal possession. The 2021 Tax Court ruling in McNulty v. Commissioner confirmed that a home-storage IRA triggers a full distribution, with all the tax and penalty that follows.
Texas residents have the same private depository options as any other state. Common names are Delaware Depository in Wilmington, Brinks Global Services in Salt Lake City and Los Angeles, International Depository Services (IDS) in Texas and Delaware, and CNT in Massachusetts. Several of these depositories operate Texas vaults inside the state.
The Texas-specific option is the Texas Bullion Depository, an agency of the State of Texas. It was authorized by HB 483 signed into law by Governor Greg Abbott on June 12, 2015, and began operations in 2017 with Lone Star Tangible Assets as the contractor.
The depository sits on a roughly 10-acre, purpose-built campus in Leander, Texas, just north of Austin. It accepts gold, silver, platinum, palladium, and rhodium for storage on behalf of individuals, businesses, and government entities.
For IRA assets the rule is specific. The IRS requires IRA metal to be held by a bank or an IRS-approved non-bank trustee. Lone Star Tangible Assets received IRS non-bank trustee approval in 2023, which is what allows the Texas Bullion Depository to hold IRA assets through that operator. Equity Trust Company is the first self-directed IRA custodian wired to coordinate with LSTA for IRA storage at the depository.
The practical process: pick a dealer that works with Equity Trust, route the purchase through your self-directed IRA custodian, and instruct the dealer to ship to the Texas Bullion Depository. Metals are stored segregated, not commingled, and the depository carries Lloyd’s of London insurance.
Storage fees for IRA assets are negotiated between the custodian, the dealer, and the depository contractor, so they vary. Confirm the current schedule directly with the dealer before signing. Source: texasbulliondepository.gov IRA storage page, checked June 2026.
The fee stack on a Texas rollover
A Texas gold IRA carries the same fee categories as any precious-metals IRA. The labels matter less than where the money goes, which is roughly four places.
| Fee | What it pays for | How it is usually charged |
|---|---|---|
| Account setup | Opening the self-directed IRA at the custodian | One-time fee at account open |
| Annual custodian fee | Recordkeeping, tax reporting, statements | Flat annual fee or tiered by account size |
| Annual storage fee | Depository vault, insurance, audits | Flat annual fee, sometimes scaled by metal value |
| Dealer markup on metal | The spread between spot price and the price you pay | Embedded in the metal price; rarely itemized on the invoice |
| Wire and shipping fees | Funding wires, dealer-to-depository shipping | Per-event flat fee |
| Buyback spread | The difference between what the dealer will pay you and current spot | Only applies if you sell back to the dealer |
Sourced from public fee schedules at Equity Trust, STRATA Trust, GoldStar Trust, and Delaware Depository. Confirm current pricing with each provider before signing. Checked June 2026.
The dealer markup is the line item with the widest range. Common bullion coins (American Gold Eagle, Canadian Gold Maple Leaf, generic gold bars) carry tighter spreads. Premium or proof coins, marketed as exclusive or limited, carry markups that can run several times higher.
The Texas Bullion Depository publishes a standard fee schedule on its site. Its IRA-storage page is explicit that storage fees for IRA assets are typically negotiated between the custodian, the dealer, and LSTA. The public schedule may not apply to an IRA account.
Check your account is eligible for rollover
Before you call any provider, confirm your source account is eligible. The calculator below walks through plan type, employment status, and basic timing rules. It is a screening tool, not legal or tax advice.
Can you roll your account into a gold IRA? Eligibility checker
Most retirement money can move into a gold IRA once it is an eligible rollover distribution. Pick your account and situation for a general answer. Always confirm the specifics with your plan administrator or custodian.
General guidance only, not tax or financial advice. Eligibility depends on your specific plan document and IRS rules; confirm with your plan administrator and a tax advisor. A direct trustee-to-trustee transfer avoids the 60-day rule and 20% withholding.
Picking a company that explains every fee up front is the first step. Get the free gold IRA company checklist.
Worked example: a Houston 150,000 dollar 401(k) rollover
Your next step
If a rollover looks right for your situation, the single highest-leverage action is to vet the provider before signing anything. Augusta Precious Metals is our primary affiliate partner for Texas gold IRA rollovers, and they publish a free gold IRA company checklist designed exactly for that vetting step.
Get the Augusta Precious Metals gold IRA company checklistSponsored link. Use it to compare any provider you talk to, including Augusta itself. Past performance is not a guarantee of future results.When a Texas gold IRA rollover is a bad idea
A precious-metals IRA is not the right move for every Texan. The pattern of accounts where it tends to backfire is consistent. We list the cases here, with no CTA attached.
Small account balance. A 15,000 dollar IRA carrying a 200 dollar annual custodian fee plus a 150 dollar storage fee pays roughly 2.3% per year just to keep the lights on, before any dealer markup. The fee drag compounds.
Liquidity need inside five years. Physical metal in an IRA is liquid in theory and slow in practice. Selling back to the dealer takes days, the buyback spread costs money, and a forced sale during a soft market hurts.
Already over-concentrated in metals. If a sizable share of your net worth is already in physical gold, more gold inside an IRA may not help. Talk to a fiduciary financial advisor, not a metals salesperson.
You expect to take a 72(t) substantially equal payment stream. Setting up SEPP withdrawals from an account holding physical metal is workable but operationally heavier than the same plan held in cash and securities.
The dealer is pushing premium or proof coins. Wide markups on graded coins are the most common way a gold IRA goes wrong. Common bullion coins and bars match the IRA structure better.
You want the metal in your hand. An IRA cannot hold metal at home. If physical custody is the point, a direct cash purchase from a Texas dealer is a different product from an IRA.
Texas gold IRA rollover FAQ
Is a Texas gold IRA rollover a taxable event?
A direct rollover or trustee-to-trustee transfer between accounts of the same tax type (traditional to traditional, Roth to Roth) is not taxable. An indirect rollover only becomes taxable if you fail to redeposit the full amount within 60 days. A conversion from a traditional account to a Roth account is taxable; consult your tax advisor.
Does Texas tax IRA distributions or rollovers?
No. Texas has no state personal income tax under Article 8, Section 24 of the Texas Constitution. Federal income tax and the 10% federal early-withdrawal penalty (if you are under age 59 and a half and no exception applies) still apply.
Can I store my IRA gold at the Texas Bullion Depository?
Yes. The Texas Bullion Depository accepts IRA assets through its operator Lone Star Tangible Assets, which received IRS non-bank trustee approval in 2023. Equity Trust Company is the first IRA custodian wired in. Work with a gold dealer that coordinates with Equity Trust to set it up. Source: texasbulliondepository.gov, checked June 2026.
Is home storage of IRA gold ever legal in Texas?
No. Federal IRA rules apply in every state. The 2021 Tax Court decision in McNulty v. Commissioner confirmed that a self-managed home-storage IRA triggers a full taxable distribution. Texas does not change that.
What is the 60-day rule on an indirect rollover?
If you receive a distribution check from an employer plan or IRA, you have 60 calendar days from receipt to redeposit the full amount into a new IRA. That full amount includes the 20% withheld for federal tax on plan rollovers. Miss the deadline and the IRS treats the unrolled portion as a taxable distribution.
How is a TRS Texas pension different from a 401(k) for a rollover?
A defined-benefit pension like Teacher Retirement System of Texas pays a monthly annuity for life. That stream cannot be rolled. A TRS member who separates from service can elect a refund of their member contributions as a lump sum, and that lump sum can be rolled into a gold IRA. Confirm refund rules and tax forms directly with TRS before deciding.
Can I roll a Texas 457(b) plan into a gold IRA?
Yes, after separation from the sponsoring government employer. A governmental 457(b) waives the 10% federal early-withdrawal penalty at the source plan. Once the money sits inside a traditional IRA, the IRS reapplies the 10% penalty rule for withdrawals before age 59 and a half. Direct rollover is the cleanest path.
Are American Gold Eagles really allowed in an IRA at 91.67% purity?
Yes. IRC 408(m)(3) requires bullion to meet a 99.5% gold fineness floor, but the statute names the American Gold Eagle and American Silver Eagle as explicit exceptions. Both are IRA-eligible by law, even though the Gold Eagle is 22-karat.
Sources
- Internal Revenue Service. Publication 590-A: Contributions to Individual Retirement Arrangements (IRAs). irs.gov/publications/p590a. Checked June 2026.
- Internal Revenue Service. Publication 590-B: Distributions from Individual Retirement Arrangements (IRAs). irs.gov/publications/p590b. Checked June 2026.
- Internal Revenue Service. Topic No. 413, Rollovers from Retirement Plans. irs.gov/taxtopics/tc413. Checked June 2026.
- Internal Revenue Service. Topic No. 558, Additional Tax on Early Distributions from Retirement Plans. irs.gov/taxtopics/tc558. Checked June 2026.
- Internal Revenue Code Section 408(m). Collectibles rule and bullion exception. Available through the Office of the Law Revision Counsel. uscode.house.gov. Checked June 2026.
- Texas Bullion Depository. IRA Storage Services. texasbulliondepository.gov/ira-storage. Checked June 2026.
- Office of the Texas Comptroller. Texas Bullion Depository overview. comptroller.texas.gov. Checked June 2026.
- Teacher Retirement System of Texas. Refund of Member Contributions. trs.texas.gov. Checked June 2026.
- Employees Retirement System of Texas. Refunds and Rollovers. ers.texas.gov. Checked June 2026.
- United States Tax Court. McNulty v. Commissioner, 157 T.C. No. 10 (November 18, 2021). Confirms home-storage IRA triggers full distribution.
- Texas Constitution, Article 8, Section 24. State personal income tax prohibition. statutes.capitol.texas.gov. Checked June 2026.