To cash out a gold IRA, you request a distribution from your custodian, who sells the metals or arranges physical delivery, then sends you the proceeds.
Steps typically include contacting your custodian, choosing between a full or partial withdrawal, deciding whether to liquidate the gold for cash or take an in kind distribution of the physical metal, and completing distribution paperwork.
If you are under 59 and a half, expect a 10% early withdrawal penalty plus ordinary income tax, unless an exception applies. Required minimum distributions apply after age 73 for traditional IRAs. Roth gold IRAs follow different tax rules.
Consult a tax professional before withdrawing, since rules and penalties vary by situation.