SEP Gold IRA for Self-Employed People and Business Owners

A SEP IRA is a retirement account that a business owner opens for themselves and for eligible employees. Because it is a type of traditional IRA, people ask whether it can hold physical gold or silver. This page explains the rules we could confirm, where the answer depends on your custodian, and what to ask. It builds on our guide to what a Gold IRA is and how precious metals IRAs work. This is general education, not personal advice. Tax and legal points below are our reading of the sources, so confirm them with a CPA, enrolled agent or attorney.

What is a SEP IRA?

SEP stands for Simplified Employee Pension. The IRS says "A SEP is a Simplified Employee Pension plan" and that it "is funded solely by employer contributions" (IRS SEP overview). Publication 560 says: "Under a SEP, you make contributions to an individual retirement arrangement (called a SEP IRA) set up by or for each eligible employee" (IRS Pub. 560).

The tax code defines a simplified employee pension as an individual retirement account or annuity that meets certain conditions (26 U.S.C. 408(k)).

Who can set one up? The IRS says "Any employer, including self-employed individuals, can establish a SEP" (IRS SEP FAQs). So a sole proprietor with no staff can use one. The IRS overview adds that "Individual employees may not establish a SEP plan" (an employee cannot start one on their own).

Can a SEP IRA hold physical gold?

The IRS FAQ says: "A SEP-IRA account is a traditional IRA and follows the same investment, distribution, and rollover rules as traditional IRAs" (IRS SEP FAQs). Our reading: whatever the IRS allows a traditional IRA to hold, it allows a SEP IRA to hold, and the same limits apply. Our page on traditional Gold IRAs covers those rules.

For metals, the IRS collectibles page says that acquiring a collectible in an individually directed account "is treated as an immediate distribution from such account in an amount equal to the cost to the plan of such collectible" (IRS). A distribution is money treated as taken out of the account, which can be taxable. The same page lists exceptions, including:

• "Certain gold, silver, or platinum coins described in 31 USC Section 5112"
• "Any coin issued under the laws of any state"
• "Any gold, silver, platinum, or palladium bullion of a certain fineness if a bank or approved non-bank trustee keeps physical possession of it"

Our reading is that the metal must fit one of these exceptions, and that bullion must be held by a trustee, not by the owner at home. We did not find a source that treats SEP IRAs differently on this point. The IRS collectibles page we opened was last reviewed 3 July 2026. The exact fineness standards are explained in our Gold IRA rules pages.

Does my current SEP custodian allow it?

Not necessarily. We found no IRS source saying what a given custodian must offer. Custodians set their own menus. Our reading is that holding metals usually means asking whether your custodian supports them or moving to a custodian that offers self-directed IRAs. Ask for its metals rules and fee schedule in writing.

Who contributes to a SEP, and how much?

Only the employer contributes. The IRS overview says "SEP contributions must bear a uniform relationship to compensation," meaning each eligible employee gets the same percentage of pay (IRS SEP overview). The owner counts as an employer here, so for a self-employed person the contribution is figured on net earnings using Publication 560's worksheets, not on a simple pay percentage.

The limit is a share of pay or a dollar cap, whichever is lower. Publication 560 (2025 edition) says: "Contributions you make for 2025 to a common-law employee's SEP IRA can't exceed the lesser of 25% of the employee's compensation or $70,000," and that "You can't consider the part of an employee's compensation over $350,000" (IRS Pub. 560).

These dollar figures change from year to year. We did not confirm the figures for any year after 2025 from an IRS page, so check the current Publication 560 or IRS SEP page before you rely on them.

When must you contribute? Pub. 560 says: "To deduct contributions for a year, you must make the contributions by the due date (including extensions) of your tax return for the year."

Which employees must be included?

Pub. 560 lists three tests. An eligible employee: "Has reached age 21. Has worked for you in at least 3 of the last 5 years. Has received at least $750 in compensation from you in 2025." The IRS overview also lists other employees you may leave out, such as those covered by certain union agreements. Pub. 560 also says that when you contribute, you must do so for "all participants who actually performed personal services during the year."

Our reading: if you have staff, a SEP means setting up SEP IRAs for them as well. We did not find a source that says who chooses the investments in employees' SEP IRAs, so ask a professional how this works for your plan.

How do I move an existing SEP IRA into one that can hold metals?

The IRS says a SEP IRA follows "the same ... rollover rules as traditional IRAs." So the usual routes for traditional IRAs apply: a direct transfer between custodians, or a rollover. We did not open a SEP-specific transfer rule, so read our guides to Gold IRA transfers and rollovers and ask both custodians for their steps.

How does a SEP compare with related accounts?

The IRS also recognizes a SARSEP, where Pub. 560 says employees "can choose to have you contribute part of their pay." We do not cover SARSEPs further here.

What are the common mistakes?

• Assuming any SEP custodian will hold metals. Ask first.
• Keeping the metal at home. For the bullion exception, the IRS says a bank or approved non-bank trustee must keep physical possession.
• Buying items that may be collectibles. The IRS treats the cost of a collectible as a distribution. Check each item against the exceptions above.
• Forgetting the staff. Eligible employees must be included under the tests above.
• Using old limits. Contribution caps change yearly.
• Buying metal because of a sales pitch. Metals carry costs and risks. See our guide to Gold IRA fees and the risks. We make no prediction about prices.

Related questions

Can a SEP IRA hold silver?

The IRS exceptions above name silver coins and silver bullion of a certain fineness, held by a trustee. The same custodian question applies.

Can I put my own money into a SEP IRA I own as an employee?

The IRS overview says a SEP "is funded solely by employer contributions." We did not confirm whether other contributions to an employee's SEP IRA are allowed, so ask a tax professional.

Who can help me decide?

A CPA, enrolled agent or attorney can explain how a SEP fits your business. Whether metals suit you is a personal decision, and we cannot make it for you.