Store round tip steak in its original packaging in the coldest part of the refrigerator, where it will keep for three to four days. It may be frozen in this packaging for up to two weeks. For longer storage, wrap in heavy-duty aluminum foil, freezer paper, or freezer bags. Round tip steak will keep six to twelve months in the freezer. Defrost steak in the refrigerator, allowing 12 to 24 hours, depending on size. Cook as soon as possible after defrosting.