Investor Protection · CFTC/FINRA Guidance · June 2026
Gold IRA complaints often fall into five categories: dealer markup disputes, hidden storage fees, IRS eligibility misunderstandings, buyback problems, and transfer or rollover delays. Most arise from a gap between what was promised and what was in writing. The best defense is to get everything in writing before you fund. If you already have a complaint, document it thoroughly and report it to the right regulator.
Complaints about gold IRAs usually are not about gold’s value going up or down. They are about how the deal was presented versus what actually happened. The five most common categories:
Dealer markup disputes
You pay more than spot price. That is usually how gold dealers work—the spread is how they make money. The complaint arises when buyers were not told the markup was as high as it was. CFTC guidance warns that markups can be substantial and should be disclosed upfront.
Hidden or unclear storage fees
The complaint: 'I didn't know I'd owe $300 a year in storage.' The cause: fees were disclosed in the fine print or not clearly broken out before the account was funded. Ask for all fees in writing before you fund. Annual storage fees, custodian fees, and transaction fees should each be a separate line item.
IRS eligibility misunderstandings
The product sold to the IRA was not actually IRS-eligible bullion—it was a numismatic coin or collectible. If the IRA invested in a collectible, the IRS generally treats the amount invested as distributed in the year acquired. That can trigger ordinary income tax plus the 10% additional tax for those under age 59½.
Buyback problems
The complaint: 'I tried to sell and they offered me much less than I paid or less than spot.' In many gold IRA structures, selling the metals back requires going through the same dealer or a limited set of approved dealers. Buyback spreads can be material. Always get the buyback policy in writing before purchase.
Transfer or rollover delays
Some complaints arise from delays in transferring money from one IRA to a gold IRA. A transfer that takes longer than expected can mean time out of the market or missing deadlines. Ask the custodian for a realistic timeline and get it in writing.
The six questions to ask in writing before funding any gold IRA:
| Question | Why it matters |
|---|---|
| What is your markup or premium over the gold spot price? | Undisclosed spreads are the biggest source of complaints |
| What is the annual custodian fee? | Ongoing drag on the account |
| What is the annual storage fee (segregated or commingled)? | Often unclear; segregated costs more |
| What is your buyback price policy? | Determines your exit value |
| Are there transfer or termination fees? | Can be substantial; ask before opening |
| Who is the custodian and who is the depository? | Must be distinct roles; verify independently |
FINRA’s SDIRA fraud guidance warns that self-directed IRA custodians generally do not evaluate the quality or legitimacy of the investment. That means the investor bears most of the verification burden.
If you already have a complaint, you need documentation. The more you have, the better your options are.
Gather as much of the following as you can:
If verbal promises were made that are not in writing, you are unlikely to be able to enforce them. That is one reason why written documentation matters so much from the start.
The right regulator depends on the nature of the complaint.
| Issue type | Where to report |
|---|---|
| Precious-metals pricing fraud | CFTC: cftc.gov/complaint |
| Wire fraud, internet fraud, cross-state issues | FTC: reportfraud.ftc.gov or FBI IC3: ic3.gov |
| Brokerage or advisory issues | FINRA BrokerCheck: brokercheck.finra.org |
| IRA tax issues | Your custodian first, then a CPA or tax attorney |
| State-level issues | Your state attorney general's office |
You may need to file complaints with multiple agencies. Each complaint creates a regulatory record, which can help if enforcement action is taken later. Filing does not guarantee recovery.
The most common complaints fall into five categories: (1) dealer markup disputes, where customers feel misled about the markup over spot price; (2) hidden storage fees, where the full annual fee was not clearly disclosed before funding; (3) IRS eligibility misunderstandings, where a product the customer bought may have been treated as a collectible instead of eligible bullion; (4) buyback problems, where the company's buy price was lower than expected; and (5) transfer or rollover delays.
Start before the complaint escalates. Get in writing: the full fee schedule before funding; the specific product purchased (name, quantity, fineness); the storage arrangement and depository name; the custodian agreement; purchase confirmations; and all written correspondence. With that documentation, a complaint to the CFTC, FTC, or your state attorney general is supported by evidence—not just a phone call you remember.
For precious-metals pricing fraud: CFTC (cftc.gov/complaint). For wire fraud, internet fraud, or cross-state issues: FTC (reportfraud.ftc.gov) or FBI's IC3 (ic3.gov). For brokerage or advisory issues: FINRA's BrokerCheck (brokercheck.finra.org). For IRA tax issues: your IRA custodian or trustee first, then a CPA or tax attorney. For state-level issues: your state attorney general's office.
Ask in writing: (1) What is your markup or premium over the gold spot price? (2) What is the annual custodian fee? (3) What is the annual storage fee, and is it segregated or commingled? (4) What is your buyback price policy? (5) Are there any transfer or termination fees? (6) Who exactly is the custodian and who is the depository? If you cannot get written answers to these questions before you fund, that is a serious warning sign.
FINRA warns that self-directed IRAs can carry heightened fraud risk. FINRA notes that SDIRA custodians generally do not evaluate the quality, legitimacy, or appropriateness of investments—they handle paperwork and custody. That means the investor bears most of the responsibility for verifying the investment's legitimacy and the provider's integrity.
The CFTC has published investor protection guidance specifically about precious-metals IRAs and gold selling schemes. CFTC guidance warns about high-pressure sales tactics, hidden fees, and inflated markups. The CFTC has brought enforcement actions against precious-metals dealers for markups, misrepresentation, and fraud. Their complaint system at cftc.gov is the right starting point if you believe a dealer defrauded you on pricing.
Recovery is uncertain and often depends on whether the provider is registered, has assets to recover, and whether the underlying issue was fraud, misrepresentation, or just a bad deal. Your best options: consult a lawyer who handles securities or financial fraud; file complaints with CFTC, FTC, state attorney general, and any applicable regulatory body; preserve all written documentation; do not take further actions without legal advice.