Weight reduction is a recurring concern in the design of modern mechanical systems. This search may lead engineers to resort to using gears with holes in order to meet their requirements. This paper presents a methodology to carry out nonlinear dynamic analyses of a gear transmission with holes in the gear blanks subjected to a multiharmonic internal excitation. This work investigates the influence of these holes on the vibration levels, occurrence of contact loss and possible bifurcations. The numerical model features two flexible shafts coupled by a spur gear pair with holes. The gear model consists in two lumped masses and inertias and includes the gear backlash as well as the internal excitation sources that are the time-varying stiffness and the static transmission error (STE). The resulting mechanical system is solved in the frequency domain by the Harmonic Balance Method (HBM) coupled with an arc-length continuation algorithm and its stability is evaluated with Hill’s method. Results show that adding holes not only impacts the STE but also the mesh stiffness. The interactions of these two quantities has a substantial influence on the bifurcation structure along the main solution branch and leads to a decrease of the span of vibro-impact regions. As the applied static torque is increased, it is found that using holed gear blanks can effectively prevent contact loss and lead to a linear response.