Storage is one of the biggest practical differences between buying gold personally and holding qualifying bullion inside an IRA.
What the IRS says
IRS guidance states that qualifying precious metals bullion must be kept in the physical possession of a bank or approved nonbank trustee. Publication 590 B also cautions that IRA coins taken into possession by the owner or beneficiary are treated as distributed.
Questions to ask about storage
- Which depository will hold the metals?
- How are storage and insurance charges calculated?
- How are holdings recorded?
- What happens when you take a distribution?
- What costs apply if you sell or transfer the metals?
Get the answers in writing. Storage arrangements are part of the account structure, not an afterthought.
Source note
Retirement account rules can have tax consequences. We rely on IRS guidance for rollover and IRA rules. Company specific details are checked against the company itself. Verify current terms before making a decision.