If you’re interested in investing in a gold-funded individual retirement account (IRA), you’ve likely stumbled upon the restrictions, fees, and requirements surrounding custodians. So, what is a gold IRA custodian, why do you need one, and how can you select a reputable option for your investment goals? Read on to learn everything you need to know about finding a trusted gold IRA custodian.
What Is a Gold IRA Custodian?
You fund a typical IRA with fiat money stored in a bank that you can quickly transfer, deposit, and withdraw using simple transactions. With a gold IRA, your account has physical gold, meaning you must store these assets securely.Gold IRA custodians hold your nontraditional assets in an account for safekeeping while adhering to Internal Revenue Service requirements. You cannot open any IRA without a custodian, including one with traditional investments. You must find a custodian if you wish to fund your account with gold, silver, platinum, or anything else.
