TL;DR - Quick Answer
IRAs holding physical metals must use an IRS-approved depository under IRC Section 408(n). The main facilities are Delaware Depository, Brink's, and IDS. Annual costs run $100–$450 depending on whether you choose commingled or segregated storage. Ask for the insurance certificate and audit schedule before you transfer.
The legal requirement
IRC Section 408(n) establishes what qualifies as an approved nonbank custodian for IRA-owned metals. In practice, this means your IRA's physical gold, silver, platinum, or palladium must be held at a facility that meets the IRS's insurance, audit, and record-keeping standards — not at home, not in a personal safe, and not at a non-approved storage facility.
The IRS treats home storage of IRA metals as a distribution, which triggers ordinary income tax plus a 10% early withdrawal penalty if you are under 59½. This is not a gray area — it has been tested in Tax Court and the IRS has consistently won.
Main approved facilities
Most Self-Directed IRA custodians work with one or more of these facilities:
Delaware Depository (Wilmington, Delaware)
The most widely used IRA depository in the United States. Delaware Depository carries all-risk Lloyd's of London insurance, offers both segregated and commingled storage, and provides quarterly account statements. Most major Gold IRA custodians have a depository agreement with Delaware Depository.
Brink's Global Services (Salt Lake City, Utah)
Brink's operates multiple vault facilities and serves both institutional and IRA storage clients. The Salt Lake City facility is the primary IRA storage location in the Brink's network. Offers segregated and commingled options with full insurance coverage.
International Depository Services (IDS)
IDS operates facilities in Dallas, Texas and Wilmington, Delaware. Like the other major depositories, IDS offers both storage types with audited record-keeping and all-risk insurance. Some custodians prefer IDS for its Dallas-based regional presence.
CNT Depository (Bridgewater, Massachusetts)
CNT is the storage arm of Coin & Bullion Reserves, one of the largest precious metals wholesalers in the U.S. CNT Depository offers similar services to the others and is the preferred facility for several smaller custodians.
Storage costs
Annual depository fees vary by facility, storage type, and the custodian's pricing model:
| Storage Type | Typical Annual Range | What It Means |
|---|---|---|
| Commingled | $100–$300/yr | Your metal pooled with other investors' metal of the same type |
| Segregated | $150–$450/yr | Your specific pieces physically separated, serial numbers tracked |
Some custodians bundle the depository fee into their annual service fee. Others charge separately. Ask for an itemized breakdown of: custodian annual fee, depository fee, and any transaction fees (for buying or selling within the account).
What to verify before transferring
Before you transfer or roll over assets into a Gold IRA, get clear answers to these questions in writing:
- Which depository will hold my metals? Delaware Depository, Brink's, IDS, CNT — confirm the specific facility, not just the custodian name.
- What is the all-in annual cost? Add custodian fee + depository fee. Some custodians price aggressively on one and recoup on the other.
- What insurance covers my holdings? Ask for the certificate of insurance, the underwriter, and the per-account or per-facility coverage limit.
- How often is an independent audit conducted? Annual audits by an independent third party are standard. Ask when the last audit was completed and who conducted it.
- What is the process to take distribution? When you are ready to take physical possession at retirement age (59½+), understand the delivery procedure, timeline, and any associated fees before you commit.
A reputable custodian will answer all of these in writing without hesitation. If you receive vague answers or pressure to move quickly before you have reviewed the full fee schedule, treat that as a signal to look elsewhere.
Frequently Asked Questions
What is an IRS-approved depository for a Gold IRA?
An IRS-approved depository is a financial institution that meets the requirements of IRC Section 408(n) for storing IRA-owned precious metals. Approved facilities maintain the insurance, audit, and record-keeping standards the IRS requires. You cannot store IRA metals at home, in a personal safe, or at a non-qualified facility.
What are the main IRA-approved precious metals depositories?
The most commonly used IRS-approved depositories are Delaware Depository (Wilmington, DE), Brink's Global Services (Salt Lake City, UT), International Depository Services (IDS) in Dallas and Delaware, and CNT Depository (Bridgewater, MA). Most Self-Directed IRA custodians work with at least one of these facilities.
How much does IRA gold storage cost?
Annual storage at IRS-approved depositories typically runs $100–$300 per year for commingled storage and $150–$450 per year for segregated storage, depending on the facility and holding size. Some custodians charge a flat annual fee; others charge a percentage of assets (typically 0.1–0.5% annually). Ask for the all-in annual cost before opening an account.
Can I choose my own depository for a Gold IRA?
You can request a specific depository, but your custodian must have an existing relationship with that facility. Most custodians work with 2–4 approved depositories and will tell you which ones are available. If a particular facility matters to you, verify the custodian relationship before transferring assets.
Is gold stored at an IRA depository insured?
Yes. IRS-approved depositories carry all-risk vault insurance covering theft, damage, and certain loss events. Delaware Depository, for example, carries Lloyd's of London coverage. Ask for the insurance certificate and coverage limit as part of your due diligence before choosing a custodian.
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