Skip to the guide
Independent guide · Funded by affiliate referrals. Goldco’s first placement is paid. Advertiser disclosure
Self-Directed
Gold IRATHE ACCOUNT. THE ROLES. THE RULES.
Guide homeRole guide

Guide 03 Role guide · US retirement accounts

Self directed IRA custodian

The company selling the metal and the institution holding your IRA have different jobs. Verify both before money moves.

Edited by Jan WirumPublished
Updated
Ask Goldco which custodian would hold the IRAPartner link

Goldco pays for qualifying inquiries and purchases; its first placement is paid. How payment works.

Self directed IRA custodian topic illustrated by steel drawers with blank plates
Generated editorial illustration. Generic setting; no company, account or storage facility is depicted.

The short answer

What does a self directed IRA custodian do?

A self directed IRA custodian holds and administers the IRA under its agreement. It processes investment directions and maintains account records, but does not generally evaluate whether your chosen investment or its promoter is legitimate. You remain responsible for checking the investment.[3]

  1. 01YoudecideChoose and check the investment
  2. 02Custodianholds the accountAdministers the IRA and its assets
  3. 03Dealersells metalQuotes the product and price
  4. 04Depositorystores itHolds metal under the custody arrangement
Page focus: Custodian. The roles are separate. A dealer’s recommendation does not replace your own checks or the custodian’s written terms.

How is the custodian different from a dealer or depository?

The custodian administers the account, the dealer sells the asset, and the depository provides the physical storage under the arrangement.

One sales representative may help coordinate all three, but ask for the separate legal names and contracts. “We handle everything” does not tell you who has possession, which charges recur or where you must send an instruction. The account-role overview shows how those connections fit.

Scroll horizontally to read every column →

TaskAccount ownerCustodianDealer / depository
Decide whether the investment fitsOwns the decisionDoes not provide the investment evaluation described in the SEC alertSeller describes its product; storage provider holds metal
Direct a purchaseAuthorizes the instructionProcesses within account termsDealer quotes and supplies the order
Confirm custodyChecks the agreement and recordsExplains account and storage arrangementsDepository supplies custody evidence under its contract
Assess price and resale termsObtains and compares written quotesAccount value is not necessarily a cash offerDealer provides purchase price and resale bid
A task matrix for document review. Services vary by agreement; these responsibilities should be confirmed before funding.

Who can qualify as an IRA trustee or custodian?

The statutory route is a bank or another person meeting the IRS’s nonbank requirements.

The IRS list is an important starting point, not a league table and not a recommendation. The SEC notes that its list is not every possible custodian. Verify the institution’s exact legal identity and the basis on which it qualifies; a dealer’s logo is not the institution’s qualification.

  • An IRA needs a qualifying trustee: a bank or another person accepted by the IRS under the statutory requirements. Self-direction does not remove this requirement.[4]
  • Use the IRS approved nonbank trustee and custodian list as one verification step. Banks follow a different qualification route; absence from this list alone does not prove an entity is illegitimate.[1]

Your document check

  • Match the legal name on the application to the entity you checked.
  • For a nonbank, inspect the IRS list and ask for clarification of approval status.
  • For a bank or regulated trust institution, verify the applicable qualification route.
  • Keep the executed custodial agreement and all fee pages.

What should you ask a precious metals IRA custodian?

Ask for a complete account agreement, fee schedule, accepted-metal rules and written storage instructions.

Storage choices can affect both access and charges. Ask what the contract means by allocated, commingled or segregated storage rather than assuming the words have identical definitions everywhere. The trustee-possession requirement still governs the investment.

  1. 01
    IdentityEstablish who holds the account

    Confirm legal name, qualification route and the source of account statements.

  2. 02
    ScopeAsk which assets it will administer

    Describe physical coins or bullion precisely; do not substitute a generic gold-investment question.

  3. 03
    PossessionConfirm where metal will be held

    Ask who contracts with the depository and how records identify your holding.

  4. 04
    ExitRead the sale and distribution process

    Find the instruction requirements, liquidation charges and how to obtain cash when needed.

A four-stage verification sequence. Each stage should produce a document or a written answer.

Which custodians do the two paid partners name?

The verified records below show what the partners name; they are not an exhaustive custodian list.

The full partner record comparison includes fee inputs and record limitations. Request the documents for the actual custodian offered to you. A published relationship does not prove every applicant gets the same account or storage terms.

Scroll horizontally to compare both companies →

Document checkGoldco01 · Paid first placementAugusta Precious Metals02 · Affiliate partner
Published opening threshold$25,000Checked October 29, 2026 · Source for published opening threshold$50,000Checked October 29, 2026 · Source for published opening threshold
Custodian named in the sourceEquity Trust Company (one of several; Goldco does not publish a full list)Checked October 29, 2026 · Source for custodian named in the sourcePartial record: confirm the available arrangement.Equity Trust CompanyChecked October 29, 2026 · Source for custodian named in the source
Dealer spread percentageNot publishedChecked October 29, 2026Not publishedChecked October 29, 2026
Published records, not account quotes. Company figures retain their original checked dates. An opening threshold is a company condition, not the IRS annual contribution limit.
Request information from AugustaPartner link

Augusta pays for qualifying inquiries. How payment works.

Does an approved custodian make an investment safe?

No. Institutional qualification and the merits of the investment are different questions.

Check personal-benefit restrictions yourself with professional help where appropriate. A checkbook-control structure adds questions rather than removing them. The trade-offs of extra control may point you toward keeping your existing account.

  • The SEC says SDIRA custodians do not evaluate an investment’s legitimacy or verify the financial information supplied for it.[3]
  • Physical gold can decline in value and produces no income. The costs of holding it continue even when its price falls.[5]

What happens after you have checked the custodian?

Only then should you work through the application and funding instructions for the account you actually intend to open.

Use the ordered setup checklist. If you want Roth treatment, establish that on the paperwork and read the Roth eligibility and withdrawal conditions before moving funds.

What else do readers ask?

Is the metals company my IRA custodian?

Do not assume so. The sales company and the institution named on the custodial agreement may be different legal entities. Ask for each party’s role in writing. [3]

Does the IRS nonbank list include every custodian?

No. The SEC notes that it is not a complete list of every custodian. Banks have a separate qualification route; investigate the exact entity and its status. [1]

Will the custodian check the investment for me?

The SEC says SDIRA custodians do not evaluate investment quality or legitimacy. You must assess the investment and the promoter independently. [3]

Sources and checked records

Rule sources checked November 3, 2026. Annual figures keep the year stated by the source; company tables show their original field dates.

  1. IRS: approved nonbank trustees and custodiansAccessed November 3, 2026.
  2. IRS Publication 590-B: investment in collectiblesAccessed November 3, 2026.
  3. SEC / NASAA / FINRA: custodian responsibilitiesAccessed November 3, 2026.
  4. 26 USC 408(a)(2): IRA trusteeAccessed November 3, 2026.
  5. CFTC: precious metal frauds and investment risksAccessed November 3, 2026.

Changes to this page

— First edition: added a responsibility matrix, qualification checks and dated partner custody references.