When establishing a physical precious metals IRA, it is important to know the parties involved.
The term "self-directed" simply means that you, as an individual, have complete control over selecting and directing your individual retirement account investments. You make all decisions regarding your investments. The self-directed IRA custodian or administrator completes the documents required to establish your account and purchase your investment.
You, as the IRA holder, choose the precious metals dealer from whom you will purchase. You will also choose the type of metal/product you want to hold. Entrust does not sell or promote any products or vendors. When choosing a precious metals dealer, the IRA holder should perform their own due diligence on the company, products, and commission structure.
The IRA holder will choose from one of the nationally recognized depositories that Entrust works with. The depository is a regulated, insured facility that stores your precious metals for an annual fee. IRS rules prohibit you from taking personal possession of the IRA owned physical metal. Your dealer may be able to recommend a depository that meets IRS regulations as well as your needs.
Click here to view a list of your domestic depository options.