Who does what in the opening process?
- Custodian or trustee
- Establishes and administers the account under its agreement, accepts instructions and maintains account records.
- Metals dealer
- Quotes and sells the specified products under its transaction terms.
- Storage provider
- Receives and holds metal under the custody arrangement and its storage terms.
- Current institution
- Reviews the request to release eligible retirement assets and processes the selected funding route.
The IRS permits trustees to impose additional investment restrictions. A dealer’s willingness to sell an item does not oblige a custodian to accept it. IRS · IRA investment and home-storage FAQs · as of 2026-11-11
What should you ask the custodian?
- What legal entity will administer my IRA, and where is its custodial agreement?
- Does this account accept the exact coins or bars being proposed?
- Which fee schedule applies to this account and storage choice?
- How are purchase instructions, statements, corrections and complaints handled?
- Which entity has the required trustee status, and how is physical custody arranged?
Custody and administrative acceptance do not establish investment suitability, fair pricing, or a future repurchase price. Read the scope of the custodian’s services rather than assuming that account administration includes advice.
What should you ask the dealer?
Request a quote naming the product, quantity, total purchase price, price-lock conditions, cancellation terms and destination. Ask for the current repurchase terms for the same product. If a salesperson recommends a different product from the one you asked about, request a fresh written comparison before authorizing anything.
Ask whether the representative is being paid for the sale or referral and what role the company performs after delivery. A free kit, a dealer minimum or a promotion is not the custodial agreement. Keep the commercial relationship visible while reviewing the underlying terms.
How can you vet the arrangement without a score?
Match the legal names in the application, transaction agreement and storage documents. Confirm that you can communicate with the custodian independently. Ask each party to explain who receives money, who confirms settlement and who records the metal. Resolve inconsistent answers in writing.
The IRS possession rule for certain bullion requires a bank or IRS-approved nonbank trustee. A company describing itself as a facilitator does not answer that requirement. IRS · IRA investment and home-storage FAQs · as of 2026-11-11
Do not rely on stars or a composite ranking to answer contract questions. This packet provides no rating of a business. It focuses on documents a reader can check before opening.