Best Gold IRA Custodians: Self-Directed IRA Custodial Services

• 1. Equity Trust Company
• 2. Inspira Financial Trust
• 3. STRATA Trust Company
• 4. New Direction Trust Company
• 5. GoldStar Trust Company
• 6. Entrust Group
• 7. Kingdom Trust
• How to Plan For the Costs of a Custodian
• What Does a Gold IRA Custodian Do?

1. Equity Trust Company

Equity Trust Company is one of the best self-directed IRA custodians, offering diversification services with precious metals like gold as well as alternative assets. Their platform, myEQUITY, provides an easy way for users to manage their Gold IRA investment for peace of mind. Equity Trust is partnered with several leading depositories, such as Delaware Depository and Brink's.

They also feature the MetalsConnect platform, streamlining the process of connecting investors with precious metals dealers. Equity Trust is a State-chartered trust company under South Dakota Division of Banking and qualifies as a non-depository IRA custodian. Being one of the largest custodians, Equity Trust has over $58 billion in assets under custody and manages over 403,000 accounts.

Fee Schedule:

• Setup fee: $50 for online application; $75 for paper application
• Annual Maintenance: $350 (Under $50,000) to $2,500 ($1,000,000+)
• Storage: $100/yr for non-segregated and $150/yr for segregated.
• Coin shipping & handling: Cost + $10 (min $50; extra depository fees may apply)
• Wire transfer (domestic or international): $30 each
• Precious Metals liquidation: $10/asset (max $30)
• Full Termination $250
• Partial Termination: $100 / asset

2. Inspira Financial Trust

Inspira Financial Trust (formerly Millennium Trust Company) is a well known custodian for self-directed IRAs (SDIRAs) providing custody services for precious metals. Inspira Financial Trust has a flat rate fee structure, so you can expect flat annual maintenance fees for your precious metal investment. They also work with platforms such as Gold Bullion International (GBI) for precious metals investments. With over $62 billion under custody, they serve over 7 million clients, including those needing Gold IRA custodial services.

Fee Schedule:

• Annual maintenance fee: $100
• Alternative asset annual holding fee: $350 (one holding), $450 (two holdings), $550 (three holdings), $650 (four or more holdings)

3. STRATA Trust Company

STRATA Trust Company is a reputable custodian offering self-directed IRA custodial services with $5 billion in assets under custody (AUC) and over 35,000 clients. They provide clients with choices between segregated and non-segregated storage options through partnerships with popular Gold IRA depositories such as Delaware Depository and Brink's.

STRATA is a Texas-chartered trust company regulated by the Texas Department of Banking. They are also a designated custodian of OneGold for those interested in digital precious metals, offering alternative investments.

Fee Schedule:

• Account Setup Fee: $50
• Annual maintenance fee: $125
• Storage: $100/yr for commingled (non-segregated) and $175/yr for segregated (Only gold, platinum, and palladium).
• Shipping/Processing: $10 + depository's cost and $35 handling/processing fee.
• Wire transfer: $35 each
• Partial Transfer Out: $100
• Account Closure: $250

4. New Direction Trust Company

New Direction Trust Company is a reputable precious metals IRA custodian that allows investments in physical metals in self-directed IRAs. They offer a proprietary online platform, myDirection, for account management for investments in Gold IRAs and partner with various IRS-approved depositories.

Their detailed fee schedules are designed to be transparent and easy to understand when setting up a self-directed IRA in gold. New Direction Trust Company holds $3.7 billion in cash and assets with over 50,000 self-directed accounts.

Fee Schedule:

• Account Setup Fee: $30 for online application; $75 for paper or electronically signed application
• Annual maintenance fee: $130 flat or $180 if $100,000+ AV
• Transaction Fee: $50 (buy/sell/reregister), $70 (exchange)
• Initial Funding: $95
• Additional Funding: $35

5. GoldStar Trust Company

GoldStar Trust Company focuses extensively on custodial services for precious metals IRAs. GoldStar holds over $3.6 billion in assets with over 60,000 accounts with an emphasis on customer service. Custodies a range of metals including gold, silver, platinum, and palladium in retirement accounts.

GoldStar is a trust company subsidiary of Happy State Bank (a Texas-chartered bank). They provide a self-directed investment approach, allowing investors to choose precious metal dealers and direct investment decisions.

Fee Schedule:

• Account Setup Fee: $50
• Annual Maintenance Fee: $150
• Storage: $100/yr for commingled and segregated varies by depository.
• Wire transfer: $50 each

6. Entrust Group

The Entrust Group is a self-directed IRA custodian operating as a directed custodian (unaffiliated trust company) with over 40 years of experience and has over $5 billion in assets with over 45,000 investors. This custodian for gold features flexible account options including Traditional, Roth, SEP, and SIMPLE IRAs. Entrust provides a easy step-by-step process when investing in precious metals with your retirement portfolio.

Fee Schedule:

• Account Setup Fee: $50
• Annual Recordkeeping Fee: $199 for one asset or $299 for two or more assets. If asset value is $50K or over there is a 0.15% charge of the total asset value over $50,000.
• Purchase and Sale Fee: $95 per asset

7. Kingdom Trust

Kingdom Trust, also known as Choice by Kingdom Trust, has over $85 billion of assets in custody while managing over 125,000 accounts. They offer self-directed IRA custodial services as a non-depository trust company with various investment options similar to the other gold custodians with competitive fee structures and the standard storage solutions.

Fee Schedule:

• Account Setup Fee: $120
• Purchase/Sale: $30 per request
• Deposit Wire fee: $0

How to Plan For the Costs of a Custodian

Gold IRA custodian fees are common when converting savings to a Gold IRA, but there are ways to get around having to pay for them. Some Gold IRA companies work with custodians who then offer promotions where you don't have to pay fees. To be eligible for waiving Gold IRA custodian fees, you need to select certain companies and usually need to meet certain investment minimums.

The Gold IRA experts at Gold IRA Planners have listed Gold IRA companies without fees so you can determine what is best for you. You can also compare the best Gold IRA kits offered by the partnered providers.

What Does a Gold IRA Custodian Do?

A Gold IRA custodian is an IRS-approved financial institution or non-bank trustee responsible for holding and administering physical precious metals within a self-directed IRA. They ensure that all the assets and transactions remain compliant with IRS rules under IRC Section 408. The IRA-approved metals you choose are stored with the help of a custodian in a 3rd party vault. Custodians do not sell metals, instead they handle documentation, asset custody, account maintenance, reporting, and confirm delivery and insurance with depositories and dealers.

Responsibilities include:

• Maintaining tax-advantaged status of the IRA.
• Executing purchases and sales as directed by the account holder.
• Arranging storage with an IRS-approved depository.
• Handling IRS reporting and required minimum distributions (RMDs).

A Gold IRA dealer (Gold IRA company) is sometimes confused with a custodian and is the company that sells you the physical metals. These are two separate roles in the Gold IRA process and both play crucial roles. Most Gold IRA companies partner with only specific self-directed Gold IRA custodians, but in some cases you can request a specific custodian depending on your preferences.