7 min read · Educational only
The custodian is not the depository (and neither is the dealer)
These three roles get blurred in marketing, but the IRS treats them as distinct, and so should you. The custodian is the licensed entity that administers your IRA and reports to the IRS. The depository is the secure vault that physically holds and insures your metal. The dealer is the company that sold you the metal.
Reputable gold IRA companies keep these roles separate and name their partners openly. That separation is a protection: no single party both controls your account and holds your metal.
Segregated vs. commingled storage
Approved depositories offer two main storage styles, and the difference is worth understanding before you choose.
- Segregated (allocated) storage keeps your specific bars and coins set aside and labeled under your name. You get back the exact items you bought.
- Commingled storage pools metal of the same type and fineness. You own an equivalent quantity, not specific serial-numbered bars.
- Segregated usually costs a little more; many investors prefer it for the clarity it provides at withdrawal.
The depositories you'll hear named
A handful of established, insured facilities handle most IRS-approved precious-metals storage. You don't choose them in a vacuum — availability depends on your company and custodian — but these are the names to recognize.
- Delaware Depository (Wilmington, DE) — Lloyd's-backed insurance, widely used across the industry.
- Brink's Global Services — multiple U.S. vaults and global secure logistics.
- International Depository Services (IDS) — IRS-approved facilities in Texas and Delaware.
- Loomis International — secure vaulting and armored transport.
Why "home storage" is a red flag
You may see pitches for "home storage" or "checkbook" gold IRAs that promise to let you keep IRA metal in a safe at home. Treat these with real caution. The IRS position is that metal inside an IRA belongs in an approved depository; arrangements that put it in your house invite scrutiny and can risk disqualifying the account — a potentially taxable, penalty-triggering outcome.
While the metal is inside the IRA, it belongs in an approved vault. If a company leads with home storage as its headline benefit, that tells you something about the company.
Common questions
What's the difference between a custodian and a depository?+
The custodian is the entity that administers your IRA and reports to the IRS; the depository is the secure, insured vault that physically stores your metal. They are separate parties by design, and reputable companies name both openly.
Should I choose segregated or commingled storage?+
Segregated storage keeps your specific bars and coins set aside under your name; commingled pools metal of the same type. Segregated usually costs a little more, and many investors prefer it for clarity at withdrawal. Both are legitimate.
Can I store my gold IRA metal at home?+
While the metal is inside the IRA, it should be held at an IRS-approved depository, not at home. "Home storage" gold IRA arrangements invite IRS scrutiny and can risk disqualifying the account. Take possession only through a proper in-kind distribution.
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This content is for general education only and is not financial, tax, legal, or investment advice. Investing in precious metals carries risk, including loss of principal. Consult a licensed professional before making decisions.