What does the IRS say about possession?
The IRS FAQ says the exception for certain highly refined bullion requires physical possession by a bank or an IRS-approved nonbank trustee. Publication 590-B also cautions that the coins it discusses must be in the possession of the IRA custodian or trustee. IRS · IRA investment and home-storage FAQs · as of 2026-11-11 IRS · Publication 590-B, collectibles · as of 2026-11-11
Terms such as “approved depository” in advertising do not identify the legal relationship by themselves. Ask which entity acts as trustee, how the storage provider holds the assets for it, and how the IRA ownership is recorded.
Does an LLC make home storage acceptable?
The IRS expressly states that its possession rule also applies when an IRA-owned LLC indirectly acquires bullion. The existence of the company is not a general exemption allowing the IRA owner to store bullion personally. IRS · IRA investment and home-storage FAQs · as of 2026-11-11
A sales description of checkbook control does not replace the possession rules. If an arrangement proposes personal possession, take the actual documents to an independent qualified professional before acting. This packet does not validate individual structures or predict a particular tax assessment.
Which storage terms should you request?
- The legal storage provider and facility named in the agreement.
- The custodian or trustee’s role in holding and recording the IRA assets.
- The definition of segregated or non-segregated storage in that contract.
- The receipt process, inventory description and reconciliation procedure.
- Insurance scope, exclusions, valuation method and claims procedure.
- Charges for storage, shipping, sale, transfer or an in-kind distribution.
Do not assume a storage label guarantees return of an identical item, or that an insurance reference covers every event. Read the definition and obligations attached to that specific option. This is a document checklist rather than a claim about a named facility.
What confirms that the opening process is complete?
Compare the authorized purchase, invoice, custody receipt and account statement. Confirm that the product description, quantity and IRA registration match. Ask the custodian who resolves a discrepancy and when the corrected holding will appear.
Retain written instructions for later sales and distributions. An in-kind distribution changes the context from metal held inside the IRA to property distributed from it; the relevant distribution and tax rules still need attention. IRS · Publication 590-B, collectibles · as of 2026-11-11