Holding precious metals like gold and silver in your retirement account is a popular way to not only protect against inflation, but also to have a diversified portfolio of assets. Gold IRA accounts offer many tax advantages that allow you to invest in physical gold and other precious metals in your retirement account. One benefit includes tax-free withdrawals as well as deductions.
In order to purchase alternative assets such as gold, you’ll have to open a self directed IRA as well as select a custodian to keep your assets at arm’s length because remember, this is in your retirement, be it an IRA, 401(k), or other qualified pension plan.
This guide walks you through various gold IRA custodians as well as the role they play in your precious metals IRA set-up, how to select one, and all of the account fees and annual fees you might incur along the way. Having gone through this process myself, I can tell you it sounds a lot more difficult than it actually is, but you must work with the right people.
What is the Role of a Gold IRA Custodian?
The entity you select to help you legally hold physical gold can be a trust company, bank, or life insurance company. Whichever entity you select must be approved by the IRS. The role a custodian plays is to legally hold your assets in an IRA in order to be compliant per the IRS rules and regulations.
Here’s a few items you’ll get from your annual management fees:
| Item / Service | What It Includes |
|---|---|
| Account Setup | • New self-directed IRA creation • Required IRS paperwork • Account activation support |
| Dedicated Account Support | • Personal account representative • Phone & email assistance • Guidance on transfers & rollovers |
| Custodial Administration | • IRS compliance • Annual reporting (Form 5498, etc.) • Record keeping & documentation |
| Secure Precious Metals Storage | • IRS-approved depository access • Segregated or non-segregated storage • Vault insurance & security |
| Transaction Processing | • Buy/sell order execution • Coordination with precious metals dealers • Trade confirmations |
| Account Funding Assistance | • 401(k) rollover support • IRA-to-IRA transfer help • Bank wire and funding instructions |
| Online Account Access | • 24/7 online portal • Balance updates • Transaction history |
| Annual Fee Summary | • Transparent admin fees • Storage fee breakdown • Fee waivers for qualifying investments |
| Distribution Handling | • Cash distributions • In-kind metals shipments • Shipping coordination & tracking |
| Compliance & Audit Protection | • IRS-approved processes • Secure storage protocols • Chain-of-custody documentation |
| Educational Resources | • Guides & brochures • Market insights • Precious metals investment basics |
| End-of-Year Statements | • Tax documents • Year-end valuations • Required IRS filings |
Once you establish a working relationship with a gold IRA custodian, you can can expect the investment process to go like this:
1) Select a gold IRA company. These specialized firms are necessary in order for you to purchase gold or other precious metals. There is a full list of options below.
These firms help you buy gold in an IRA. You can’t execute this transaction without working with a specialized company that has years of experience with this transaction.
2) Select a custodian. All gold IRA companies mentioned above have working relationships with several gold IRA custodians. I personally chose Equity Trust Company in my journey and have had a great experience working with them.
3) Choose a storage option. Your custodian will offer you several locations with varied fees where you will need to store your physical precious metals.
4) Evaluation process. Prior to your precious metals being sent to storage, your gold IRA custodian will evaluate your gold and ensure it is IRA approved.
5) Required minimum distributions. As you near retirement age, you’ll be getting noticed of any RMD’s that you must fulfill.
Do I Need a Custodian to Purchase Gold?
Gold IRAs must be managed by a custodian per IRS regulations. The custodians must have experience in precious metals in order to manage your account.
If you are looking to purchase gold outside of an IRA, you do not require a gold IRA custodian. The same goes for investing in an exchange traded fund (ETF) or stocks. Do remember that if you go this route you will miss out on the tax advantages that you’ll get when investing inside your IRA account. The major advantage, tax-wise, is the tax-deferred growth an IRA provides.
Whether you hold gold in Roth IRAS, SEP IRAS, Traditional IRAS, or Self-directed IRAS (SDIRA) you’ll need a custodian to make sure the assets are up to IRS standards.
Who are the Top Gold IRA Custodians?
As mentioned before, the gold IRA companies I list above all have relationships with one or more of these firms listed below. These precious metals IRA custodians not only handle IRS compliance and account maintenance, but they also specialize in precious metals and other alternative assets that you purchase inside your retirement account.
Note: When you decide to open a self directed ira, you can purchase alternative investments such as real estate, private equity, and even cryptocurrency. I hold all of these types inside my SDIRA and it gives me a much larger scope of investment options outside of the stock market, bonds, mutual funds, and the regular stuff your financial advisor probably invests in.
Equity Trust Company
I use Equity Trust Company for my Self Directed IRA and purchased gold and silver using this exact account. The company has been around since 1974 and manages $52 billion in assets. As mentioned above, I’m able to purchase precious metals, real estate, and even cryptocurrency inside this self directed IRA.
The account opening process is simple and can be done online.
Strata Trust Company
Another company that manages self directed IRAS is Strata Trust Company. Their services of alternative assets you can invest in range from precious metals to crowfunding, and even private debt.
The were founded in 2008 and manage $4 billion of assets but most importantly, they have very transparent fee structures.
You can easily open an account with a STRATA IRA. Once it’s open, you can fund it, select one of the gold IRA companies above, and being your precious metals purchasing process.
Gold IRA Custodian Account Fees: What You Need to Know Before You Invest
Choosing the right Gold IRA custodian is one of the most important decisions you’ll make when rolling your retirement savings into physical gold or silver. While precious metals offer long-term protection against inflation, market volatility, and economic uncertainty, the fees charged by your custodian can directly impact your returns over time.
This guide breaks down every type of Gold IRA fee, what’s normal, what to avoid, and how to compare custodians so you’re never surprised by hidden costs.
What Are Gold IRA Custodian Fees?
Gold IRA custodians charge fees to set up, administer, and securely store your physical precious metals. Since the IRS requires a third-party, IRS-approved custodian for self-directed IRAs, these fees are a standard part of owning physical metals inside a retirement account.
A typical Gold IRA fee structure includes:
- Account Setup Fee – One-time cost to open your self-directed IRA
- Annual Maintenance/Admin Fee – Covers reporting, compliance, and account management
- Storage Fee – Insurance and secure vault storage at an IRS-approved depository
- Transaction Fees – For buying, selling, or transferring metals
Understanding these fees helps you choose a custodian that provides transparent pricing, low ongoing costs, and strong customer service.
Types of Gold IRA Account & Annual Fees (Explained)
1. Account Setup Fees
Most custodians charge a one-time setup fee ranging from $50 to $150.
Some top-tier companies may waive this fee during promotions or for deposits above certain thresholds.
2. Annual Administrative Fees
The annual admin fee covers:
- IRS reporting
- Account maintenance
- Record keeping
- Customer support
This normally runs $75–$300 per year, depending on the custodian. Some charge a flat rate, while others scale the fee based on account value.
Flat-rate fees are usually better for larger accounts.
Scaled fees can become expensive as your account grows.
3. Storage Fees
Your precious metals must be stored in an IRS-approved depository. Storage fees typically range from $100 to $300 per year and depend on the type:
- Segregated storage: Your metals are stored separately (higher cost)
- Non-segregated storage: Your metals share space with others (lower cost)
Depositories charge custodians for secure storage, insurance, and auditing—costs passed directly to the investor.
4. Transaction & Miscellaneous Fees
Some custodians charge:
- Transaction fees ($25–$75 per buy/sell order)
- Wire fees
- Paper statement fees
- Distribution or shipment fees
- Account termination fees
While not always significant, these add up—especially with custodians that bury them in the fine print.
How Much Should You Expect to Pay in Total?
For most investors, a Gold IRA costs around:
- $150–$350 per year total (admin + storage)
- $0–$150 one-time setup fee
- Optional transaction fees depending on activity
However, many premium custodians will waive first-year or even multi-year fees for deposits over $50,000 or $100,000—an excellent incentive if you’re rolling over a substantial 401(k) or IRA.
Fee Waivers: When Investors Pay $0 Their First Year
Many of the top providers offer:
- 1 year of free fees for deposits over $50,000
- Up to 3 years of free fees for deposits over $100,000
These waivers can save $300–$900+ depending on the custodian.
If you want, I can customize this section to highlight your affiliate partners or approved custodians.
Flat Fees vs. Scaled Fees: Which Is Better?
Choosing between flat-rate and scaled-rate custodians impacts how much you pay over time.
Flat-Rate Custodians
- Same cost no matter how large your account grows
- Best for investors planning to build significant holdings
- Easier to understand and compare
Scaled-Rate Custodians
- Fees increase as your account value increases
- More costly for long-term investors
- Sometimes cheaper for very small accounts
For most investors, flat-rate custodians offer the best long-term savings.
Are Gold IRA Fees Worth It?
Yes — for most investors, the added protection of owning physical gold and silver inside a tax-advantaged account outweighs the additional fees. Gold IRAs offer:
- Long-term stability
- Protection against inflation
- A hedge during market crashes
- Portfolio diversification
- Direct ownership of physical metals
And with the right custodian, fees remain reasonable, predictable, and often waived for new clients.
Choosing the Best Gold IRA Custodian
When comparing custodians, look for:
- Transparent, published fee schedules
- Flat-rate annual fees
- Low-cost depository partnerships
- A+ BBB ratings
- Fast, concierge-level customer support
- Promotions offering first-year or multi-year fee waivers
The goal is to choose a custodian that keeps your costs low without compromising security or service.
Gold IRA Custodian Fees FAQ
What fees should I expect with a Gold IRA?
Setup fee, annual admin fee, and storage fee—plus possible transaction fees.
How much does a Gold IRA cost per year?
Most investors pay $150–$350 per year.
Do all custodians charge storage fees?
Yes. The IRS requires metals be held in an approved depository, which charges for secure storage.
Can I avoid Gold IRA custodian fees?
Not entirely, but you can minimize fees by choosing low-cost custodians or those offering fee waivers.
Do custodians charge when I sell or take a distribution?
Many charge modest transaction or distribution fees, typically $25–$75.
Are Gold IRA custodian fees tax-deductible?
Generally, no. Always consult a tax professional.
