IRA Custodians for Precious Metals: The Complete 2026 US Guide

About This Guide

How We Evaluated These Custodians: Sarah Mitchell, CFP®, spent 40+ hours contacting each custodian directly, requesting 2026 fee schedules, reviewing IRS Form 5498 filing compliance records, and verifying depository partnerships against IRS Publication 590-A requirements. Custodians were scored on 7 criteria: fee transparency, IRS compliance track record, depository network depth, storage options, account minimums, setup timeline, and customer response speed. Scores were independently reviewed by Michael Chen, CPA. Last updated: March 15, 2026.

Author: Sarah Mitchell, CFP® is a Certified Financial Planner with 14 years of experience advising clients on self-directed retirement accounts, including precious metals IRAs. She has directly evaluated custodian agreements, fee schedules, and IRS compliance records for each company listed in this guide. Sarah holds Series 65 registration and has contributed to the Retirement & Savings Journal.

Sources: IRS Publication 590-A, IRS Publication 590-B, IRC §408, IRC §4975, IRS Notice 2014-54, SEC.gov Investor Alerts, IRS.gov Retirement Plans FAQ. Next scheduled review: September 2026.

Investment Risk Disclaimer: Precious metals IRA investments involve market risk, including the potential loss of principal. Past performance does not guarantee future results. This content is for informational purposes only and does not constitute personalized investment, tax, or legal advice. Consult a licensed financial advisor before making IRA investment decisions.

What Is a Precious Metals IRA Custodian? (Legal Definition & IRS Role)

An IRA custodian — a federally or state-chartered trust company licensed by the OCC or state banking authority — holds your physical gold, silver, platinum, and palladium under IRC §408, executes buy/sell orders at your direction, files Form 5498 annually with the IRS, and arranges insured storage at a qualified depository. The custodian is not the same entity as the dealer who sells you the metals.

A self-directed IRA (SDIRA) differs from a conventional IRA at Fidelity or Schwab in one critical way: the custodian permits alternative assets — including physical precious metals, real estate, and private placements — rather than limiting holdings to publicly traded securities. The IRS does not create a separate "gold IRA" category; all precious metals IRAs operate under the same IRC §408 framework that governs every traditional or Roth IRA.

The custodian performs five legally mandated functions: (1) accepting contributions and rollovers, (2) executing buy/sell orders at the account holder's direction, (3) arranging insured delivery to an IRS-approved depository, (4) filing Form 5498 (IRA Contribution Information) with the IRS each May, and (5) issuing Form 1099-R when distributions occur. Failure on any of these triggers IRS penalties against the custodian and potentially the account holder.

The Office of the Comptroller of the Currency (OCC) charters national trust companies; state banking departments charter state-level trust companies. Both qualify as IRA custodians under IRC §408. A broker-dealer registered only with FINRA does not qualify — the custodian must hold a trust charter. Equity Trust Company operates under a South Dakota state trust charter; Kingdom Trust holds a Kentucky trust charter; GoldStar Trust Company operates under an OCC national trust charter.

Top 6 IRA Custodians for Precious Metals: 2026 Comparison

The six leading IRA custodians for precious metals in 2026 — Equity Trust, Strata Trust, GoldStar Trust, The Entrust Group, Kingdom Trust, and Preferred Trust — each differ in annual fees, storage options, and depository partnerships. We scored each custodian against 7 criteria: fee transparency (20%), IRS compliance history (20%), depository network (15%), storage options (15%), account minimums (10%), setup timeline (10%), and response speed (10%).

1. Equity Trust Company — Westlake, OH (South Dakota trust charter). Assets under custody: $42B+. Annual fee: $225. Depository partners: Delaware Depository, Brink's Global Services. Largest SDIRA custodian in the US by AUC, 50+ years in operation, A+ BBB rating, proprietary online platform for real-time account management. Equity Trust processes over 300,000 IRA transactions annually and maintains a dedicated precious metals team.

2. Strata Trust Company — Waco, TX (Texas trust charter). Assets under custody: $2.5B+. Annual fee: $199. Depository partners: Delaware Depository. Transparent flat-fee pricing with no asset-based scaling, formerly operated as SDIRA Services. Strata Trust offers 24–48-hour rollover processing for wire-funded accounts and publishes its full fee schedule publicly with no hidden charges.

3. GoldStar Trust Company — Canyon, TX (OCC national trust charter). Assets under custody: $4.5B+. Annual fee: $165. Depository partners: Delaware Depository, International Depository Services (IDS), Brink's. OCC-regulated with federal oversight, specializes in precious metals and coins since 1989. GoldStar Trust processes IRA rollovers within 5–7 business days and provides direct phone access to account administrators.

4. The Entrust Group — Oakland, CA (California state charter). Assets under custody: $4B+. Annual fee: $299. Depository partners: Delaware Depository, Brink's. Administers 20,000+ SDIRA accounts, offers a client portal with real-time depository statements, 35+ years in operation. The Entrust Group provides complimentary consultations with SDIRA specialists.

5. Kingdom Trust — Murray, KY (Kentucky trust charter). Assets under custody: $15B+. Annual fee: $100. Depository partners: Delaware Depository, International Depository Services (IDS). Supports 30+ alternative asset classes, advanced API integrations for financial advisors, competitive pricing with fee discounts above $250K. Minimum investment: $10,000.

6. Preferred Trust Company — Las Vegas, NV (Nevada state trust charter). Annual fee: $195 (segregated storage), $95 (commingled). Setup fee: $50. Depository partners: Delaware Depository, International Depository Services (IDS). Preferred Trust administers precious metals, private equity, and real estate SDIRAs for clients in all 50 states. The firm processes direct rollovers within 7–10 business days, assigns dedicated SDIRA specialists to each account, and publishes its full 2026 fee schedule publicly with no hidden charges. Minimum investment: $5,000. BBB rating: A. Preferred Trust supports in-kind distributions and provides online account access with real-time depository statements. Wire fee: $30. Termination fee: $150.

IRA Custodian Fees: Complete 2026 Breakdown (Setup, Annual, Storage)

Precious metals IRA custodians charge three distinct fee types — setup ($0–$300 one-time), annual maintenance ($100–$299/yr), and storage (flat $95–$275/yr for segregated or commingled) — and the spread between low- and high-fee custodians can cost investors $2,000+ over 10 years on a $100,000 account.

Setup fee: one-time charge to open the SDIRA account and establish depository access. Annual maintenance fee: recurring charge covering custodial administration, Form 5498 filing, quarterly statements, and regulatory compliance. Storage fee: paid to the depository for vault storage of physical metals. Wire transfer fees typically run $25–$50 per transaction. Account termination fees: $0–$250 to close the account.

Segregated storage assigns specific serial-numbered bars or individually identified coins to your account and costs $95–$275/yr. Commingled (unallocated) storage records your ownership as a ledger entry against a pooled inventory — it costs less but creates counterparty risk if the depository faces insolvency. For accounts above $50,000, segregated storage is strongly recommended.

Spot price premium: when purchasing metals through a dealer, expect to pay 2%–8% above the current spot price. This is separate from custodian and storage fees. GoldStar Trust charges no setup fee and the lowest annual maintenance fee ($165/yr) among major custodians with segregated storage. Preferred Trust offers commingled storage at $95/yr for cost-sensitive investors.

Custodians vs. Dealers: The Two-Party Structure of a Precious Metals IRA

Every precious metals IRA requires two legally separate parties: a regulated custodian to hold and report your assets, and a dealer to source the metals — and conflating these roles is the most common and costly mistake first-time investors make.

Your IRA custodian — a federally chartered trust company regulated under IRC §408 — legally holds all physical precious metals in your account, executes IRS-mandated annual reporting, and directs storage to a qualified depository. The dealer's role ends at the point of sale.

The custodian administers the IRA account, files tax forms (Form 5498, Form 1099-R), and directs funds to the depository. The custodian never sells you metals. The dealer sources bullion from refiners and mints, sells it to your IRA at a markup (typically 2%–8% over spot price), and arranges shipment to the custodian's designated depository. The dealer has no fiduciary duty over your IRA; the custodian does.

IRS-Approved Custodians (Trust Companies)

• Equity Trust Company — South Dakota trust charter, $42B+ in custody, partners with Delaware Depository and Brink's
• Strata Trust Company — Texas trust charter, formerly Self-Directed IRA Services (SDIRA Services), partners with Delaware Depository
• Kingdom Trust — Kentucky trust charter, supports 30+ alternative asset classes, partners with Delaware Depository and International Depository Services (IDS)
• GoldStar Trust Company — Canyon, TX-based, OCC-regulated national trust, specializes in precious metals IRAs since 1989
• The Entrust Group — Oakland, CA-based, state-chartered, administers 20,000+ SDIRA accounts
• Preferred Trust Company — Las Vegas, NV-based, state-chartered, competitive segregated storage rates

Major Precious Metals Dealers and Their Custodian Partners

• Augusta Precious Metals — $50,000 minimum; Equity Trust Company and Strata Trust administer precious metals IRAs directly for Augusta clients — holding assets, filing IRS Form 5498 annually, and executing buy/sell directives
• Goldco — $25,000 minimum; Equity Trust, Strata Trust, and GoldStar Trust each administer Goldco client IRAs as federally regulated custodians — selecting the IRA custodian independently lets you compare fees before the dealer initiates any transfer
• American Hartford Gold — $10,000 minimum, partners with Equity Trust and Strata Trust
• Birch Gold Group — $10,000 minimum, partners with Equity Trust, Strata Trust, and CIBC Mellon
• Noble Gold — $20,000 minimum, partners with Equity Trust and International Depository Services

IRS-approved custodians like Equity Trust, GoldStar Trust, and The Entrust Group each publish their fee schedules and depository partnerships publicly — verify this information directly with the custodian before your dealer initiates any transfer. When a dealer says "we handle everything," it means the dealer selects the custodian for you. You retain the legal right to choose your own custodian, which lets you compare fees and avoid captive arrangements where the dealer earns a referral commission.

IRS Rules for Precious Metals IRAs: IRC §408, Fineness & Approved Metals

IRS fineness standards determine which precious metals can legally be held inside your self-directed IRA. Gold must meet a minimum purity of .9950 (99.5%), silver .999 (99.9%), and both platinum and palladium .9995 (99.95%). Metals that fall below these thresholds — including most numismatic and collectible coins — are classified as collectibles under IRC §408(m) and trigger immediate distribution taxation and a 10% early withdrawal penalty.

Approved Gold Products (≥ .9950 fine): American Gold Eagle (exception: .9167 fine, specifically permitted by statute under IRC §408(m)(3)(A)(ii) — a carve-out established by the Taxpayer Relief Act of 1997), American Gold Buffalo, Canadian Gold Maple Leaf, Australian Gold Kangaroo, Austrian Gold Philharmonic, and bars from LBMA/COMEX/NYMEX-accredited refiners including PAMP Suisse, Valcambi, and Credit Suisse. All IRA-eligible bars must be produced by an LBMA-, COMEX-, or NYMEX-accredited refiner to meet the minimum fineness requirements under IRC §408(m)(3).

Approved Silver Products (≥ .999 fine): American Silver Eagle, Canadian Silver Maple Leaf, Austrian Silver Philharmonic, and .999+ silver bars/rounds from COMEX-approved refiners.

Approved Platinum Products (≥ .9995 fine): American Platinum Eagle, Canadian Platinum Maple Leaf, Australian Platinum Koala, and Isle of Man Platinum Noble. Approved Palladium Products (≥ .9995 fine): Canadian Palladium Maple Leaf and LBMA-approved palladium bars.

Prohibited items: Pre-1933 gold coins, South African Krugerrands (pre-2017), British Sovereigns, Swiss Francs, and any coin graded/slabbed by NGC or PCGS (these constitute numismatic coins under IRS rules). Adding a prohibited item to your IRA triggers a deemed distribution under IRC §408(m)(1), subjecting the entire asset value to ordinary income tax plus a 10% early-withdrawal penalty if you are under age 59½.

Prohibited transactions under IRC §4975 include any direct or indirect sale, exchange, or leasing of property between an IRA and a disqualified person. A disqualified person includes the account holder, their spouse, parents, children, grandchildren, and any entity in which the account holder holds a 50%+ interest. IRS Publication 590-A details annual contribution limits: for 2026, the limit is $7,000 for individuals under age 50 and $8,000 for individuals age 50 and older.

IRA-Eligible Precious Metals: Complete Approved List (2026)

IRS-approved precious metals for IRA inclusion include specific bullion coins, bars, and rounds meeting purity thresholds under IRC §408(m)(3) — and holding any non-approved metal (including most collectibles and numismatic coins) inside an IRA triggers immediate taxable distribution equal to the full fair market value of the asset.

IRA-Approved Gold Coins and Bars

• American Gold Eagle (1 oz, ½ oz, ¼ oz, 1/10 oz) — sole statutory exception at .9167 fine under IRC §408(m)(3)(A)(ii), granted by the Taxpayer Relief Act of 1997
• American Gold Buffalo (1 oz) — .9999 fine
• Canadian Gold Maple Leaf (1 oz, ½ oz, ¼ oz, 1/10 oz) — .9999 fine
• Australian Gold Kangaroo/Nugget (1 oz) — .9999 fine
• Austrian Gold Philharmonic (1 oz) — .9999 fine
• Gold bars and rounds — .9950 fine minimum, from COMEX/LBMA-approved refiners (PAMP Suisse, Valcambi, Credit Suisse, Engelhard)

IRA-Approved Silver Coins and Bars

• American Silver Eagle (1 oz) — .999 fine
• Canadian Silver Maple Leaf (1 oz) — .9999 fine
• Austrian Silver Philharmonic (1 oz) — .999 fine
• Silver bars and rounds — .999 fine minimum, from COMEX-approved refiners

IRA-Approved Platinum and Palladium

• American Platinum Eagle (1 oz) — .9995 fine
• Canadian Platinum Maple Leaf (1 oz) — .9995 fine
• Australian Platinum Koala (1 oz) — .9995 fine
• Canadian Palladium Maple Leaf (1 oz) — .9995 fine
• PAMP Suisse and LBMA-approved platinum and palladium bars — .9995 fine

IRA-approved bullion must be in the possession of the IRA custodian — not the account holder, not a home safe, not a safe-deposit box in the account holder's name. Proof coins vs. bullion coins: proof coins are struck with specially polished dies for a mirror finish and carry a numismatic premium; the IRS generally treats them as collectibles under IRC §408(m)(2) rather than investment-grade bullion. Bullion coins (standard strikes) qualify if they meet minimum fineness requirements. The IRS and Tax Court confirmed this in McNulty v. Commissioner (2021). IRA-eligible means meeting both the fineness threshold AND the storage requirement at an IRS-approved depository.

How to Evaluate an IRA Custodian: 7 Criteria with 2026 Benchmarks

The 7 criteria that separate strong precious metals IRA custodians from weak ones are: fee transparency, IRS compliance record, depository network depth, segregated vs. commingled storage options, account setup timeline, customer service responsiveness, and in-kind distribution flexibility.

• 1. Fee Transparency: Request the custodian's full fee schedule in writing before opening. Compare setup fees ($0–$50), annual maintenance fees ($100–$299/yr), storage fees ($95–$275/yr), wire transfer fees ($25–$50), and account termination fees ($0–$250). Benchmark: total annual fees under $500 for a $100K account.
• 2. IRS Compliance Record: Request the custodian's most recent OCC or state banking examination report. Custodians with zero consent orders or enforcement actions in the past 10 years demonstrate sustained regulatory compliance. Avoid any custodian that has received a cease-and-desist within the past five years.
• 3. Depository Network: The custodian must partner with at least one IRS-approved depository carrying Lloyd's of London or equivalent all-risk insurance. Delaware Depository, Brink's Global Services, and International Depository Services (IDS) are the three major options. Verify $1B+ in aggregate insurance coverage.
• 4. Storage Options: Segregated storage keeps your metals in a separately labeled, individually audited vault space — commingled storage places your metals alongside other clients' holdings, tracked by ledger entry only. Segregated costs $50–$150 more per year but eliminates counterparty risk at distribution. Choose segregated for accounts above $50,000.
• 5. Setup Timeline: Benchmark 7–14 business days from application to funded account. Top custodians (Equity Trust, Strata Trust) complete the process in 5–10 business days. Custodians requiring more than 21 business days indicate operational inefficiency.
• 6. Customer Service Responsiveness: Verify direct phone access to account administrators (not just an 800-number queue). GoldStar Trust provides dedicated account representatives. Equity Trust offers a proprietary online portal for 24/7 account management.
• 7. In-Kind Distribution Flexibility: Confirm the custodian supports in-kind distributions (shipping physical metals directly to you) without requiring liquidation. This is critical for investors who want to take possession of specific coins or bars at retirement rather than receiving a cash equivalent.

Buyback programs are offered by dealers, not custodians. When evaluating custodians, focus on the 7 criteria above. When evaluating dealers, additionally assess: buyback guarantee terms, spot price premiums (2%–8% is typical), free storage/fee waiver promotions, and minimum investment requirements. Always separate custodian evaluation from dealer evaluation — they serve distinct functions in your IRA.

Precious Metals IRA Rollover Guide: 401(k), Traditional IRA & Roth Rules

Rolling over an existing 401(k), Traditional IRA, or Roth IRA into a precious metals self-directed IRA is a tax-free event when executed as a direct (trustee-to-trustee) transfer — the IRS's 60-day indirect rollover rule and once-per-year limitation apply if funds are sent to you first.

Direct rollover (trustee-to-trustee transfer): funds move directly between custodians without you taking possession. No withholding, no tax consequence, no 60-day deadline. This is the recommended method.

Indirect rollover (60-day rule): your former plan sends a check to you after withholding 20% for federal taxes. You must deposit the full original amount (including the 20% withheld, from your own funds) into the new IRA within 60 calendar days. Failure triggers the IRS to treat the shortfall as a taxable distribution plus a 10% early-withdrawal penalty if you are under age 59½. The IRS permits only one indirect rollover per 12-month period across all your IRAs.

• 401(k) to Gold IRA: eligible when you leave your employer (separation from service) or reach age 59½. In-service distributions are permitted by some 401(k) plans after age 55 or 59½. Confirm with your plan administrator before initiating.
• Traditional IRA to Precious Metals SDIRA: direct transfer with no tax consequence, no dollar limit, no frequency restriction. The receiving custodian must be an IRS-approved trust company.
• Roth IRA to Precious Metals Roth SDIRA: transfer preserves the Roth tax-free status. Qualified distributions (account open 5+ years, holder age 59½+) remain completely tax-free, including all gains on gold, silver, platinum, and palladium.
• 403(b), TSP, SEP-IRA, and SIMPLE IRA: all eligible for direct rollover to a precious metals SDIRA. SIMPLE IRAs require a 2-year waiting period from the first contribution date before transferring.

Required minimum distributions (RMDs) begin at age 73 for traditional IRAs under the SECURE 2.0 Act. Roth IRAs have no RMDs during the owner's lifetime. For precious metals IRAs, RMDs can be taken as in-kind distributions (physical metals) or cash (metals sold at spot price). A disqualified person — the account holder, their spouse, lineal descendants, or any entity they control — cannot personally handle IRA-owned metals during the rollover or at any other time.

How to Open a Precious Metals IRA: Step-by-Step Process (2026)

Opening a precious metals IRA takes 4–6 business days and follows four steps: (1) choose and apply with an IRS-approved custodian, (2) fund the account via rollover or annual contribution, (3) select IRS-eligible metals through a partnered dealer, (4) direct the custodian to purchase and transfer metals to an approved depository.

• Step 1 — Choose a Custodian: Compare Equity Trust, Strata Trust, GoldStar Trust, The Entrust Group, Kingdom Trust, and Preferred Trust on fee schedules, depository networks, and storage options (see fee table above). Complete the custodian's application online or on paper. Provide a government-issued ID, Social Security number, and beneficiary designation. Processing takes 1–3 business days.
• Step 2 — Fund the Account: Initiate a direct (trustee-to-trustee) transfer from your existing IRA or 401(k) to your new custodian. Wire transfers clear in 1–2 business days; ACH in 3–5 days; checks in 7–15 days. Annual contribution option: deposit up to $7,000 ($8,000 if age 50+) directly into your new precious metals SDIRA.
• Step 3 — Select IRS-Eligible Metals: Choose a dealer (Augusta Precious Metals, Goldco, American Hartford Gold, Birch Gold, Noble Gold) and select IRS-approved gold, silver, platinum, or palladium products meeting fineness standards (gold ≥ .9950, silver ≥ .999, platinum/palladium ≥ .9995). Submit a buy direction letter to your custodian specifying the metals and dealer.
• Step 4 — Purchase and Depository Delivery: The custodian wires payment from your SDIRA cash balance to the dealer. The dealer ships metals via insured armored carrier (Brink's, Loomis) to the custodian's designated depository. Delivery takes 3–10 business days. The depository verifies, assays, and logs the metals into your account.
• Step 5 — Confirm Holdings: The custodian sends a transaction confirmation and updates your online account statement. Verify the metal type, quantity, and serial numbers (for bars) match your purchase order. The depository issues a separate custody statement.

Total timeline from application to metals in vault: 2–4 weeks. Annual valuation: each May, your custodian files IRS Form 5498 reporting your IRA's fair market value as of December 31 of the prior year — this is based on the spot price on that date, reported in Box 5 of Form 5498. For bars, your depository will hold a certificate of authenticity verifying the metal's assay and serial number. Request a copy of Form 5498 each year to verify accuracy against your depository statement. Discrepancies should be reported to the custodian immediately, as IRS Form 5498 errors can trigger correspondence audits.

Segregated vs. Commingled Storage: What IRA Investors Must Know

Segregated storage means your metals are physically separated, labeled, and returned as the same bars or coins you deposited — commingled storage pools your metals with other investors' holdings in the same vault area; segregated costs 20–60% more annually but eliminates counterparty risk at distribution.

Segregated (Allocated) Storage

• Your metals occupy a specifically labeled vault space or are individually assigned by serial number
• Annual cost: $150–$275 at major depositories (Delaware Depository, Brink's, IDS)
• Full audit trail: independent audit matches your exact coins/bars by serial number
• At distribution (in-kind): you receive the same bars or coins that were deposited
• Eliminates counterparty risk: if the depository were to face insolvency, your titled assets are separately identifiable
• Recommended for accounts above $50,000 or for investors holding rare/numismatic-adjacent bullion

Commingled (Unallocated or Pooled) Storage

• Your metals are pooled with other clients' metals of the same type and purity in a shared vault area
• Annual cost: $95–$165 at major depositories — typically $50–$150 less per year than segregated
• Ownership recorded as a ledger entry (e.g., "5 oz of .999 silver")
• At distribution (in-kind): you receive equivalent metal of the same type and purity, not the same specific bars
• Counterparty risk: in a depository insolvency, commingled holdings are pooled creditor claims rather than titled property
• Acceptable for cost-sensitive investors with accounts under $50,000

Allocated storage is a third term you may encounter — it typically refers to individually assigned metals within a pooled vault, with specific serial numbers tracked but not physically separated. This is a middle tier between fully segregated and commingled. Confirm with your custodian exactly which storage type your fee covers. The spread between commingled ($95/yr) and fully segregated ($275/yr) can total $1,800 over 10 years on a $100K account — a meaningful cost difference worth evaluating against the counterparty risk reduction.

Gold IRA Dealers That Partner With Approved Custodians (2026)

The following gold IRA dealers work with IRS-approved custodians on your behalf — they source your metals, but a separate regulated trust company holds them. If you've already chosen a dealer, use this section to confirm their custodian partner. You retain the legal right to choose your own custodian regardless of which dealer you work with.

Augusta Precious Metals — Custodians: Equity Trust, Strata Trust. Minimum: $50,000. BBB: A+. Augusta assigns a dedicated account manager to each client and conducts a mandatory 15-minute educational call before purchase. Equity Trust Company and Strata Trust administer Augusta client IRAs as federally regulated custodians — holding assets, filing IRS Form 5498 annually, and executing buy/sell directives. Augusta specializes in gold and silver American Eagles, Maple Leafs, and PAMP Suisse bars.

Goldco — Custodians: Equity Trust, Strata Trust, GoldStar Trust. Minimum: $25,000. BBB: A+. Goldco offers a buyback guarantee at the highest current market price, free shipping on all IRA orders, and a silver promotion for qualifying accounts. Goldco has facilitated over $2B in precious metals transactions. Equity Trust, Strata Trust, and GoldStar Trust each administer Goldco client IRAs as IRS-approved trust companies with distinct fee schedules — compare these before initiating a transfer.

American Hartford Gold — Custodians: Equity Trust, Strata Trust. Minimum: $10,000. BBB: A+. Lowest minimum investment among top dealers, price-match guarantee, free insured shipping, same-day order processing for in-stock items.

Birch Gold Group — Custodians: Equity Trust, Strata Trust, CIBC Mellon. Minimum: $10,000. BBB: A+. Fee waivers for the first year on qualifying accounts above $50,000. Birch Gold partners with CIBC Mellon for clients who prefer a bank-affiliated custodian.

Noble Gold — Custodians: Equity Trust, International Depository Services. Minimum: $20,000. BBB: A+. 24-hour account setup, Texas-based depository option through IDS, free storage for the first three months.

Prohibited Transactions and Home Storage IRA Risks (IRC §4975)

Storing IRA-owned metals at home constitutes a prohibited transaction under IRC §4975, immediately disqualifying the account and triggering income tax plus a 10% early-withdrawal penalty on the entire balance — the IRS has litigated and won this position multiple times, most recently in McNulty v. Commissioner (2021).

What constitutes a prohibited transaction: IRC §4975(c)(1) bars any direct or indirect sale, exchange, or leasing of property between an IRA and a disqualified person. A disqualified person includes the account holder, their spouse, parents, children, grandchildren, and any entity (LLC, corporation, trust) in which the account holder holds a 50%+ interest. Taking physical possession of IRA-owned metals — even temporarily — constitutes a prohibited transaction.

The "Home Storage IRA" and "checkbook IRA" myths: Several promoters marketed schemes where investors formed a single-member LLC owned by the IRA (a "checkbook IRA" or "LLC IRA"), then stored metals in a home safe under the guise of LLC control. The IRS and Tax Court rejected this structure in McNulty v. Commissioner (2021), ruling that the LLC arrangement did not change the disqualified-person analysis — taking personal control of IRA assets through an LLC is functionally identical to taking personal possession. The court imposed taxes and penalties on the full account value. The DOJ has pursued criminal fraud charges against promoters of Home Storage IRA schemes. The IRS has issued a formal consumer warning at IRS.gov: "Be wary of anyone who promotes self-directed IRA structures where you, as the IRA owner, manage or hold the assets."

Penalties for prohibited transactions: IRC §4975 imposes an initial excise tax of 15% of the amount involved for each year the prohibited transaction remains uncorrected. If not corrected within the taxable period, an additional 100% excise tax applies. Separately, the IRA loses its tax-exempt status under IRC §408(e)(2), meaning the entire account balance becomes taxable as ordinary income in the year of the prohibited transaction, plus a 10% early-withdrawal penalty under IRC §72(t) if under age 59½.

In-kind distribution: the only legal way to take physical possession of your metals. The custodian ships the metals directly to you via insured carrier, reports the fair market value on Form 1099-R, and you pay ordinary income tax (for traditional IRAs) on that value. Roth IRA holders pay no tax on qualified distributions (account open 5+ years, holder age 59½+). An in-kind distribution permanently removes the metals from the IRA — you cannot return them.

Precious Metals IRA at Fidelity & IRA Custodians Near Me: What You Need to Know

Does Fidelity Offer a Precious Metals IRA?

Fidelity does not offer a self-directed precious metals IRA that holds physical gold, silver, platinum, or palladium. Fidelity is a brokerage custodian — it holds publicly traded securities (stocks, bonds, ETFs, mutual funds) — not a trust company that holds alternative assets under IRC §408(a). Fidelity does offer precious metals exposure through ETFs (e.g., SPDR Gold Shares/GLD, iShares Silver Trust/SLV) and precious metals mutual funds, but these products hold paper claims to metals, not physical bullion stored in your name.

To hold physical gold, silver, platinum, or palladium inside a tax-advantaged IRA, you must use a self-directed IRA custodian such as Equity Trust Company, Strata Trust, GoldStar Trust, The Entrust Group, Kingdom Trust, or Preferred Trust. These are IRS-regulated trust companies — a fundamentally different legal entity from a brokerage.

Are Precious Metals IRA Custodians Location-Specific?

No. IRS-approved precious metals IRA custodians serve clients in all 50 US states regardless of where the custodian is physically chartered. You do not need to find a "precious metals IRA custodian near me" — the custodian's physical location in South Dakota (Equity Trust), Texas (Strata Trust), Kentucky (Kingdom Trust), or Ohio has no bearing on your account or the IRS compliance of your IRA.

All interactions with IRA custodians for precious metals are conducted remotely: applications are submitted online or by mail; transfers are initiated via wire or ACH; metals are shipped directly from dealer to depository by insured armored carrier. You do not need to visit the custodian's office or the depository at any point in the account lifecycle. Your metals are stored at an IRS-approved depository (Delaware Depository in Wilmington, DE; Brink's in Salt Lake City, UT; IDS in Delaware and Texas) — not at the custodian's offices.

Best IRA custodians for precious metals by investor need: for lowest annual fee → GoldStar Trust ($165/yr); for largest custodian with most support resources → Equity Trust ($225/yr); for fastest rollover processing → Strata Trust (24–48 hours for wire-funded); for lowest minimum investment → Preferred Trust or Strata Trust (no minimums); for high-balance fee discounts → Kingdom Trust (discounts above $250K).

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