IRA custodians have different names for this including Home Storage IRA, LLC IRA, Checkbook IRA, and Self-Storage IRA. They’re all the same thing.
What’s important to know about this method is that it requires you to set up an LLC. This will make you the manager of the LLC, so you will be responsible for the costs and paperwork to set it up, and all annual bookkeeping and IRS paperwork during the life of the LLC.
For many of our customers, the administrative hassle and extra costs simply don’t justify the personal preference to store the metal at home.
That’s why we recommend that you work with your IRA custodian to keep your gold and silver in a proper, IRA approved storage facility.
However, if you do need to store your IRA metal at home, we can easily arrange for the delivery of your IRA metal from our vaults to the address of your choice. Either give us a call for more info, or ask your IRA custodian how to get started.