Gold IRA Custodians: What They Do and How to Compare Them
The custodian is the institution that administers the IRA. It is not the same as the precious-metals dealer, and separating those roles is essential to understanding who is responsible for your assets and paperwork.
Key points
- Opens and administers the IRA.
- Processes approved transactions and transfers.
- Handles tax reporting and account statements.
- Coordinates with the depository under the account structure.
- Charges its own account fees.
Custodian vs dealer
The dealer sells the metal. The custodian administers the retirement account. A dealer may introduce or coordinate with a custodian, but you should still review the custodian's own documents and fees.
What to compare
Look at setup, annual maintenance, transaction, wire, distribution and termination fees. Also compare processing times, online access, reporting quality and the list of supported depositories.
Investment advice
A self-directed IRA custodian generally administers the account rather than recommending whether gold is a suitable investment. Do not interpret administrative acceptance of an asset as an endorsement of its investment merits.
Where to go next
Continue with the Storage resource center, or review our Gold IRA company due-diligence framework.