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Gold IRA Custodian Rules

Rules Governing Gold IRA Custodians



1. Custodian Must Be Approved by the IRS



  • • Only banks, credit unions, trust companies, or IRS-approved entities may act as custodians.

  • • Must be listed in IRS Publication 590-A.



2. Precious Metals Must Meet Purity Standards



  • • Gold:   99.5%

  • • Silver:   99.9%

  • • Platinum & Palladium:   99.95%

  • • Only approved coins and bars allowed (e.g. American Gold Eagle, Canadian Maple Leaf, etc.).



3. Physical Storage in an Approved Depository

  • • Metals must be stored securely in an IRS-approved depository.

  • • Home storage disqualifies tax benefits.



4. Prohibited Transactions

  • • Account holder cannot personally use the metals.

  • • No self-dealing allowed.



5. Reporting Requirements

  • • Custodian files IRS forms:   5498 and 1099-R.


⚖️ Financial Regulatory Standards



1. Fiduciary Responsibilities (if applicable)



  • • Some custodians may have fiduciary duties depending on structure.




Due Diligence




1. Verify authenticity and value of metals.

2. Ensure dealers are legitimate and compliant.




Compliance with Anti-Money Laundering (AML) Laws




1. Must verify client identity (KYC).

2. Monitor and report suspicious activity.




Fees & Disclosures




1. Clear disclosure of setup, storage, and maintenance fees is required.

2. Fee structures vary by custodian and metal value.




✅ Summary of What to Look for in a Gold IRA Custodian:


Feature Ideal Criteria
IRS Approval Required
Transparent Fee Structure No hidden fees
Secure, Approved Depository Non-segregated or segregated options
Experience with Precious Metals IRAs Highly recommended
Solid Reputation Check reviews, BBB ratings