State Guide · Transparency First · June 2026
For Ohio residents, the best Gold IRA setup is usually the one with clear IRS-eligible products, a named custodian, a named storage arrangement, and a written all-in fee breakdown. “Ohio” is not what determines IRS compliance. Structure, documentation, and transparency do.
In a compliant self-directed IRA, three roles are separate. If a provider blurs them, slow down.
| Role | What they do | Why it matters |
|---|---|---|
| Dealer | Sells the gold; sets markup and spread | Pricing transparency affects your all-in cost |
| IRA custodian/trustee | Handles IRA administration and IRS reporting | Custodians do not evaluate dealer legitimacy or pricing for you |
| Storage provider | Stores the metals under account custody structure | IRA metals are generally not meant for home storage |
A Gold IRA only works if the assets and storage fit IRS rules. The IRS says that if an IRA invests in collectibles, the amount invested may be treated as distributed to you in the year invested, which can trigger tax consequences.
Home storage is not a safe shortcut. IRS guidance and FAQs do not treat IRA metals like ordinary personal property. If the arrangement does not follow the proper custody structure, the tax treatment can depend on the facts and may create tax or compliance problems.
Rollovers also have timing rules: if you use an indirect rollover, IRS guidance says the money generally must be deposited into another eligible IRA or plan within 60 days.
Regulators have warned about precious-metals IRA scams involving overpriced coins, excessive markups, commissions, and fees that are not clearly disclosed. Use this worksheet to force comparable quotes from every provider.
| Cost item | Who charges it | Ask for this in writing |
|---|---|---|
| IRA setup fee | Custodian | Fee schedule or quote |
| Annual admin fee | Custodian | Annual fee schedule |
| Transaction fee | Custodian, dealer, or both | Itemized pricing |
| Storage fee | Storage provider | Annual storage terms |
| Metal premium/markup | Dealer | Itemized quote |
| Buyback/spread | Dealer | Written buyback terms |
One example of a custodian fee reference is Equity Trust’s fee FAQ, which shows why you should verify the actual fee schedule for the custodian being used. The exact fee names and amounts vary by provider. (Accessed 2026-06-13.)
On March 20, 2024, the CFTC issued a warning about precious-metals scams targeting retirees, with joint investor-education messaging also tied to FINRA and NASAA. The concern was not just fraud in the broad sense. It was also about pricing opacity and oversold claims.
Main regulator themes:
A company can look appealing on the surface and still end up being costly once all the layers are added. The point is not to find the flashiest name. It is to find the cleanest, most documented process.
The IRS does not maintain a list of 'approved gold IRA companies.' What matters is whether the dealer, custodian, and storage provider follow IRS requirements, and whether the metals are eligible for IRA holding.
The dealer sells the metals. The custodian/trustee handles IRA administration and recordkeeping. They are separate, and their fees are usually separate too.
That is a risky idea and can create tax and compliance problems. IRS guidance points investors toward proper custody — not personal home storage. Confirm the exact custody method the custodian uses.
The IRS says investments in collectibles can be treated as distributed in the year invested, which can have tax consequences. Confirm the specific product is IRS-eligible before buying.
Usually a mix of setup fees, annual custodian fees, storage fees, and dealer markup or spread. Always ask for the full fee schedule in writing. Equity Trust's fee FAQ is one example of a publicly available fee reference.
If you receive retirement funds directly in an indirect rollover, IRS rules generally require you to redeposit them into another eligible IRA or plan within 60 days. Missing this deadline can make the full amount taxable.