Gold IRA Rollover - Tax Hit and RMDs? My situation and questions

• •Been seeing a lot of chatter lately on tax implications for Gold IRA rollovers and wanted to get some real-world input.
• •My portfolio is north of $5M, and a significant chunk of that (like, 30%+) is already in physical precious metals I've acquired over the past decade.
• •Most of that is outside of my retirement accounts, but I'm looking at moving another $500k-$1M from a traditional IRA into a self-directed Gold IRA.

Been seeing a lot of chatter lately on tax implications for Gold IRA rollovers and wanted to get some real-world input. My portfolio is north of $5M, and a significant chunk of that (like, 30%+) is already in physical precious metals I've acquired over the past decade. Most of that is outside of my retirement accounts, but I'm looking at moving another $500k-$1M from a traditional IRA into a self-directed Gold IRA. I’m 58, based in Scottsdale, and run a few businesses, so I’m pretty dialed into the financial world, but these constant shifts in tax regs keep me on my toes.

My main concern is the potential tax hit on the rollover itself. I understand the direct rollover process is generally tax-free, assuming it's done correctly through a trustee-to-trustee transfer. But are there any hidden gotchas I should be aware of? I’m thinking specifically about any state-specific weirdness here in Arizona that might apply, or any lesser-known IRS interpretations that could crop up. Done a few of these before, but never with this significant of an amount going into gold directly from an IRA.

Beyond the initial rollover, what about Required Minimum Distributions (RMDs) down the line? I'm 58 now, so RMDs are still a few years off, but I’m planning ahead. How does the valuation of physical gold work for RMD purposes? Is it based on spot price on the day of the distribution, or some average? And when you take an RMD in physical gold, are there additional steps or costs involved that aren't present with traditional paper assets? The thought of having to liquidate a portion of my actual gold just to meet an RMD for that same gold seems a bit circular and potentially inefficient. Any personal experiences with this would be massively helpful.

I’m working with my financial advisor, of course, but I always appreciate the insights from this community, especially those who have actually gone through these processes with substantial holdings. What unforeseen issues have you encountered with large Gold IRA rollovers or with RMDs from a precious metals IRA? Any recommendations for custodians who are particularly smooth with this process? Feeling pretty good about the continued hedges against inflation, but want to make sure I’m not blindsided by Uncle Sam down the road.