Self-Directed IRA Custodians
What Exactly Is A Self-Directed IRA Custodian?
Just like other types of IRAs, precious metals IRAs (aka Gold IRAs, Silver IRAs, etc.) must be in the possession of a trustee or “custodian” in order to remain in compliance with IRS requirements. This means that Precious Metals Investments made in an IRA account must be held by an authorized custodian. A Self-Directed IRA Custodian acts as a fiduciary and it is their job to make sure that your IRA assets are correctly titled and that the necessary reporting requirements and paperwork are all accurate and in order. A self-directed IRA custodian is required to secure and protect your assets and always act in your best interest. The custodian is also required to provide regular account statements.
How Do I Choose A Self-Directed IRA Custodian?
We suggest you compare custodian services, fees and expenses. Read all fine print and make sure that you have a thorough understanding of all involved. Fees and expenses may include such items as account set up fees and annual bullion storage fees.
BGASC’s Preferred Self-Directed IRA Custodians
I’ve Chosen A Self-Directed IRA Custodian. Now What?
Once you have funded your Self-Directed IRA Custodian account and have placed an order for precious metals from BGASC for your IRA, the custodian will pay BGASC directly from your IRA funds. After payment is made, the custodian will make arrangements with BGASC to ship your metals to your chosen depository. Once they arrive at your depository, they will be inventoried and fully allocated. The custodian will then report back to you that the metals have been received.
Ready to learn more about opening a Precious Metals IRA account?