When transient electromagnetic investigation methods are carried out in the field, the measured data often contain both the induced polarization (IP) effect and the electromagnetic effect. In order to study the IP effect in the transient electromagnetic response, many researchers first calculate the electromagnetic field which considers the IP effect by replacing traditional resistivity with complex resistivity of the Cole-Cole model in the frequency domain. After the forward modeling calculation of the electromagnetic field in the frequency domain that considers the IP effect, the transient electromagnetic field in time-domain is obtained by a time-frequency transform algorithm. In this paper, the resistivity is directly replaced by the time-variant resistivity expression of the Cole-Cole model by using digital filter algorithms when we simulate the transient electromagnetic fields in time- domain. The calculated result of the Cole-Cole model in time-domain and in frequency-domain are consistent with each other, as observed in the horizontal electric field and the vertical magnetic field comparisons, which indicates the correctness of the numerical computation method adopted in this paper. The research presented herein allows us to observe the influence of the IP effect on transient electromagnetic field as well as study the mechanisms of IP directly.