The California Gold IRA Checklist

Affiliate disclosure: Gold California may earn a commission when you open an account through links elsewhere on this site. This never changes what you pay or what we write. We are not financial or tax advisors. Consult a licensed advisor for your specific situation.

Last updated: July 3, 2026 · By Gold California Editorial

This page is a working checklist for a California saver setting up or reviewing a gold IRA. Every rule below traces to the IRS, the California Franchise Tax Board, CalPERS, the CFTC, or the California Department of Financial Protection and Innovation. Nothing here is financial or tax advice; run each item past your tax advisor before you act.

What a California gold IRA checklist actually covers

A gold IRA is a self-directed individual retirement account that holds IRS-approved physical precious metals instead of stocks or funds. The account itself is still governed by the same Internal Revenue Code rules as any other IRA (source: IRS Publication 590-A).

A California checklist adds one more layer on top of the federal rules. California conforms to the federal code for most IRA mechanics. It also imposes its own 2.5% additional tax on early distributions. Each dollar of a taxable distribution then lands in California ordinary income (source: California FTB, Early distributions).

The rest of this page walks the items in order. Rules first, then metals, then the custodian and the depository, then fees, then how the money is moved in, then the California tax layer, then red flags. A worked example and a set of frequent questions close the page.

The 2026 IRS rules your account has to satisfy

Three federal rules set the outer shape of a gold IRA. The annual contribution limit, the collectibles rule under Internal Revenue Code Section 408(m), and the required minimum distribution rule. Each one is a checklist box.

The IRS confirmed the 2026 numbers in Notice 2025-67. The IRA annual limit is $7,500, up from $7,000 in 2025, and the IRA catch-up for savers age 50 and over is $1,100, up from $1,000 in 2025 (source: IRS Newsroom, 2026 retirement plan limits). Money you roll from a 401(k), 403(b), or pension is separate from that annual limit.

The elective-deferral limit for a 401(k), 403(b), governmental 457(b), and the federal Thrift Savings Plan rose to $24,500 for 2026, with an $8,000 age-50 catch-up and an $11,250 age 60 to 63 super catch-up (same IRS source). These are workplace-plan limits, not IRA limits, but a checklist covers them because most California gold IRA money starts life in a workplace plan.

The collectibles rule under Internal Revenue Code Section 408(m) is the one most gold IRA content skips. Acquiring a "collectible" inside an IRA is treated as an immediate distribution equal to the cost, taxed as ordinary income, plus the 10% federal early tax under age 59.5 (source: IRS, Investments in collectibles). The carve-out for approved gold, silver, platinum, and palladium is what makes a gold IRA legal at all.

The required minimum distribution rule closes the age loop. A traditional gold IRA carries required minimum distributions starting at age 73 today, rising to 75 in 2033 for people born in 1960 or later (source: IRS, Required Minimum Distributions FAQs). Roth gold IRAs have no required distribution during the owner's lifetime.

Sources: IRS Newsroom, 2026 retirement plan limits; IRS Publications 590-A and 590-B; IRS Required Minimum Distributions FAQs. Checked June 2026.

Metals checklist: which coins and bars pass the 408(m) test

Only IRS-approved metals belong in a gold IRA. The statute at Internal Revenue Code Section 408(m)(3) sets the standard by cross-reference to commodity contract-market fineness (source: Cornell LII, 26 U.S.C. Section 408). The practical numbers most dealers cite are gold .995, silver .999, platinum .9995, and palladium .9995, which are the COMEX minimums that satisfy the statutory reference.

American Eagle coins are the well-known exception. The Gold Eagle is 22-karat, or .9167 fine, yet it is IRA-eligible because it falls under the coins-described-in-31-USC-5112 carve-out, not the bullion fineness test (source: IRS Snapshot on collectibles, above). Do not assume every 22-karat coin qualifies; only the specific carve-out list does.

The metal must also be held by a qualified trustee, not by you. The statute itself requires the bullion to be "in the physical possession of a trustee described under subsection (a)" (source: 26 U.S.C. Section 408). Taking the metal home turns the position into a deemed distribution.

Sources: 26 U.S.C. Section 408(m); IRS, Investments in collectibles in individually-directed qualified plan accounts. Checked June 2026. Fineness numbers are the COMEX reference standards satisfying the statute.

Custodian and depository checklist for California residents

Two different roles have to line up. The custodian is the bank or approved non-bank trustee that holds legal title to the account and issues the tax forms. The depository is the vault that holds the physical metal on behalf of the custodian.

The custodian must be an IRS-approved bank or non-bank trustee (source: IRS Snapshot on collectibles, above). Only that entity can hold the metal on your behalf. A self-directed IRA promoter is not the custodian; the custodian sits behind the promoter and is the one filing your Form 5498 each year.

The depository must be an IRS-recognized precious-metals vault. Delaware Depository in Wilmington, Delaware, and International Depository Services in New Castle, Delaware, and Dallas or Leander, Texas, are the two most commonly named on gold-IRA statements. Brink Global Services operates an IRS-approved location in Los Angeles, so a California resident who wants metal stored in state has that option through custodians that use Brink LA.

Segregated storage keeps your specific coins and bars set aside under your name. Commingled storage pools your metal with other clients' identical items. Segregated typically costs more. Both are legal for a gold IRA; the checklist item is confirming which one is on your paperwork.

Sources: 26 U.S.C. Section 408(m); IRS Snapshot, Investments in collectibles; Brink Global Services and Delaware Depository public storage pages. Checked June 2026. Confirm the current depository named on your paperwork with your custodian before signing.

Fee checklist: what to ask before you sign

A gold IRA carries fees a regular IRA does not. Setup, annual custodian, storage, and the dealer markup on the metal itself. Each one is a checklist question because gold IRA dealers publish fee schedules unevenly, and totals depend on account size and storage type.

The checklist below is the set of numbers to request in writing before you sign. The right answer is your own; the wrong answer is not knowing. Compare each figure across custodians before you commit, and confirm any promotional waiver in writing on the account agreement itself.

• Account setup fee. A one-time fee to open the self-directed IRA. Ask if any promotion waives it.
• Annual custodian fee. Some custodians charge a flat annual fee, others charge a scale on assets.
• Annual storage fee. Charged by the depository, split between segregated and commingled tiers.
• Dealer markup on the metal. The spread between the dealer's cost and the price you pay, which sits outside the custodian fee list.
• Wire, transfer, and distribution fees. Ask what each event costs, including a full liquidation.
• Buyback policy. Ask whether the dealer offers a buyback bid, at what spread, and whether it is binding.
• Promotional waivers. A multi-year fee waiver only counts if it is written into the account agreement.

A California saver comparing dealers can also look at published third-party ratings. The Better Business Bureau publishes accreditation status, a letter rating, and complaint counts on each dealer's profile. Business Consumer Alliance publishes a parallel rating. Neither replaces the fee questions above, but both are external checks on the dealer.

Rollover and funding checklist: moving the money without a tax bill

Most California gold IRA money starts in a workplace plan or another IRA. Moving it in without triggering tax is a small set of very strict rules. The checklist boxes here are federal, but the tax cost of missing one lands on your California return too.

A direct trustee-to-trustee transfer between two IRAs is the cleanest route. The IRS states plainly that a transfer from one IRA trustee directly to another "isn't a rollover" and is not subject to the 60-day rule or the one-per-year rule (source: IRS Publication 590-A). No federal tax is withheld on a direct transfer.

A direct rollover from a workplace plan (401(k), 403(b), governmental 457(b), or the Thrift Savings Plan) to an IRA follows a parallel rule. The IRS confirms that a plan-to-participant distribution is subject to a mandatory 20% federal withholding, and that a direct rollover to an IRA avoids that withholding (source: IRS, Rollovers of retirement plan and IRA distributions). Ask the plan for the direct-rollover paperwork, not a check to yourself.

An indirect rollover is the risky route. The plan cuts a check to you, withholds 20%, and starts a 60-day clock. To roll the full amount you have to replace the withheld 20% out of pocket and deposit the total into the receiving IRA within 60 days, or the missed portion is a taxable distribution (same IRS source). Miss the clock and you owe ordinary income tax plus the early-tax stack if you are under 59.5.

Sources: IRS Publication 590-A; IRS, Rollovers of retirement plan and IRA distributions; IRS Newsroom, 2026 retirement plan limits. Checked June 2026. Bobrow v. Commissioner (2014) applies the one-per-year IRA rollover rule across all of a taxpayer's IRAs, not per-IRA.

California tax checklist: the 2.5% add-on and the top rate

California follows the federal characterization of a gold IRA distribution as ordinary income. The dollar amount that is taxable on your federal return flows into your California adjusted gross income, taxed at the state's regular rates (source: FTB Publication 1005).

California adds a 2.5% additional tax on an early distribution before age 59.5, reported on FTB Form 3805P and attached to the California return (source: FTB, Early distributions). Stacked on the federal 10%, the combined penalty tax is 12.5%, on top of ordinary income tax at both levels. California does not conform to every federal exception, so a distribution that escapes the federal 10% can still owe the state 2.5%.

California's rate ladder runs through nine brackets topping at 12.3%, plus a 1% Mental Health Services Tax on taxable income over $1,000,000. That produces a top combined marginal rate of 13.3%. Most retirees never reach the top bracket, but the ladder still applies to every distribution dollar.

Two California-specific facts help. Social Security is fully exempt from California state income tax (source: FTB Publication 1005, above). A qualified Roth gold IRA distribution stays out of your California taxable income entirely, because the tax was paid when you funded the account. Both facts belong on the checklist for a retiree drawing multiple income streams.

Red-flags checklist: what California enforcement cases have shown

Precious-metals fraud is real, and California and federal regulators have pursued documented cases. Two are worth naming because both involved gold IRA solicitations targeting retirement savers.

The CFTC entered a consent order against Red Rock Secured in April 2024 (source: CFTC Press Release 8898-24). The company sold coins to customers as retirement savings after telling them common bullion carried a small markup, then delivered premium coins with much larger markups over cost. A federal court entered a settlement of more than $56 million.

The CFTC also charged Regal Assets LLC and its principal with misappropriating more than $21 million after soliciting rollovers of IRAs, 401(k)s, and Thrift Savings Plan balances into self-directed precious-metals IRAs (source: CFTC Press Release 8791-23). Both cases show the same pattern: a rollover pitch followed by a coin swap or misappropriation.

The California Department of Financial Protection and Innovation runs the state's channel for precious-metals complaints. The DFPI accepts complaints online at dfpi.ca.gov, by mail to Consumer Services in Sacramento, and by phone at 1-866-275-2677 (source: DFPI Submit a Complaint page). A California resident who suspects a precious-metals dealer of misconduct has that route.

• Aggressive pitch to swap bullion for "premium" or "rare" coins. The CFTC's Red Rock case turned on this exact pattern.
• Rollover urgency framed as a market event. No credible dealer needs you to sign today over a headline.
• Home storage of IRA metal presented as normal. The 408(m) statute requires physical possession by a qualified trustee.
• No custodian named on the paperwork. The IRS-approved trustee has to be identified in writing.
• No published buyback policy. Ask for the spread in writing before you buy.
• Political, religious, or veteran framing used to build trust. Regulators have penalized this kind of pitch.

How to verify a legitimate California gold IRA setup

The steps below outline how a California resident can verify a gold IRA offer before signing. They describe the mechanics; they are not tax advice, and your custodian or tax advisor handles the specifics.

1. Confirm the custodian is a bank or IRS-approved non-bank trustee. The account paperwork should name the custodian clearly. Verify the entity name matches the party filing your Form 5498.
2. Confirm the depository is IRS-recognized and named on the paperwork. Delaware Depository, IDS, or Brink Global Services are the common names. A California in-state option runs through Brink in Los Angeles.
3. Confirm the metals list meets the 408(m) test. Approved gold, silver, platinum, or palladium at the reference fineness, or coins listed in the 31 U.S.C. 5112 carve-out.
4. Request every fee in writing. Setup, annual custodian, annual storage, dealer markup, wire and distribution fees, and any promotional waiver written into the account agreement.
5. Choose the funding route. A trustee-to-trustee IRA transfer or a direct rollover from your workplace plan is the clean route, with no withholding and no 60-day clock.
6. Model the California tax if any distribution is likely before age 59.5. The 12.5% combined penalty tax stacks on ordinary income tax; run the number with your tax advisor.
7. Check the dealer's public record. Read the current BBB profile, Business Consumer Alliance rating, and any CFTC or DFPI action on the dealer or its principals.
8. Keep the paperwork. Account agreement, custodian disclosures, depository receipt, and each 1099-R and 5498 in a permanent file for your California return.

A worked example: a California rollover walked through

When a gold IRA checklist is a bad fit for you

A balanced read has to name when this checklist points the wrong way. Not every California saver benefits from a gold IRA, and the boxes below are the ones that most often signal a poor fit.

• You have a small balance to move. Setup, storage, and annual custodian fees are a heavier drag on a $20,000 account than a $250,000 account. Many California savers find the fee load only works at higher balances.
• You need liquidity in the next few years. Selling metal back through the dealer involves a spread. If your horizon is short, an IRA that holds cash or a broad-market fund may fit better.
• You are under 59.5 and expect to withdraw soon. The 12.5% combined penalty tax on an early distribution makes short-horizon gold IRA balances expensive to touch.
• You want dividend or interest income. Metal does not pay a coupon; the return on a gold IRA is price movement alone, and past prices are not a guarantee of future results.
• You would put more than a modest share of the account in one asset class. Concentrating any single account in one asset is a decision for you and a licensed advisor; the checklist here is silent on allocation, and so is our editorial position.
• You do not want the paperwork. A gold IRA carries more account documents, more disclosures, and more annual filings than a mainstream IRA. Some savers value simplicity above all.

None of these make a gold IRA wrong for every California saver. They mean the checklist has to name when it does not fit, so the trust in the rest of the page is earned.

California gold IRA checklist questions, answered

What is on a California gold IRA checklist?

The core items are the 2026 IRS contribution limits, IRA-approved metals under IRC Section 408(m), a qualified custodian, and an IRS-approved depository. Two more boxes are a direct trustee-to-trustee funding route and a plan for the 2.5% California additional tax below age 59.5.

What is the 2026 IRA contribution limit that a gold IRA follows?

The 2026 IRA annual limit is $7,500 combined across traditional and Roth accounts, and the catch-up for savers age 50 and over is $1,100, per IRS Notice 2025-67. Rollovers from a workplace plan are separate and are not counted against the annual limit. A gold IRA follows the same annual figure as any other IRA.

Which coins and bars are IRA-approved for a California gold IRA?

Approved gold, silver, platinum, and palladium at the COMEX-referenced fineness (gold .995, silver .999, platinum and palladium .9995), plus coins listed under the 31 U.S.C. 5112 carve-out such as the American Gold and Silver Eagles. Collectible or "rare" coins are not IRA-approved and buying one inside the IRA is treated as an immediate deemed distribution.

Can I store gold IRA metal at home in California?

No. The Internal Revenue Code Section 408(m)(3) statute requires the bullion to be in the physical possession of a qualified trustee, meaning a bank or an IRS-approved non-bank trustee. Personal possession of IRA metal is treated as a deemed distribution. Delaware Depository, IDS, and Brink Global Services (with a Los Angeles location) are common vaults California custodians use.

What is the safest way to fund a California gold IRA?

A trustee-to-trustee transfer between two IRAs, or a direct rollover from a 401(k), 403(b), governmental 457(b), or Thrift Savings Plan into the new IRA. Both routes avoid federal tax withholding and the 60-day clock. An indirect rollover from a workplace plan triggers a 20% mandatory federal withholding on the plan-to-participant check.

How does California tax a gold IRA distribution?

California taxes a gold IRA distribution as ordinary income, the same as any IRA, at state rates that reach 13.3% at the top. Before age 59.5 with no qualifying exception, California adds a 2.5% additional tax on Form 3805P, stacked on the federal 10%, for 12.5% in combined penalty tax. Social Security is fully exempt from California state income tax.

How do I check whether a California gold IRA offer is legitimate?

Confirm the custodian is a bank or an IRS-approved non-bank trustee, and confirm the depository is IRS-recognized. Confirm the metals list passes the 408(m) test. Get every fee in writing. Check the dealer's public record with the Better Business Bureau, Business Consumer Alliance, and any CFTC or DFPI enforcement history. The California DFPI accepts complaints at 1-866-275-2677 or online at dfpi.ca.gov.

Does a California gold IRA have required minimum distributions?

A traditional gold IRA has required minimum distributions starting at age 73 today, rising to 75 in 2033 for people born in 1960 or later, under the SECURE 2.0 Act. Each required distribution enters California adjusted gross income as ordinary income. A Roth gold IRA has no required distribution during the owner's lifetime.