Where Texas Gold IRA Metal Is Stored

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The federal rule that decides where your IRA gold sits

Federal law, not state law, sets the storage rule for a gold IRA. Under Internal Revenue Code Section 408(a)(2), an IRA must be held by a bank or by a person the IRS has approved as a non-bank trustee under Treasury Regulation 1.408-2(e). That entity is your custodian.

The custodian is legally in charge of the account. It arranges delivery of the physical metal to an IRS-approved depository, books the metal as an IRA asset, pays storage fees from your IRA cash, and reports the annual fair market value to the IRS on Form 5498.

You never take personal possession of the metal while it sits inside the IRA. Personal possession is treated as a distribution. That single rule is what removes home safes, personal safe-deposit boxes at a retail bank, and any storage that is not held by the custodian on your behalf from the list of qualifying options.

Any IRS-approved depository qualifies, whether it sits inside Texas or in another state. Your Texas address does not force the metal to sit in Texas. It also does not stop you from choosing a Texas facility if you prefer state oversight or an in-state vault.

Why home storage does not qualify (and what McNulty confirmed)

You may have seen ads for a home-storage gold IRA. Skip them. The 2021 United States Tax Court ruling in McNulty v. Commissioner closed that pathway. A Rhode Island couple set up an LLC inside their self-directed IRA, bought American Eagle coins through it, and kept the coins at home in a safe. The court treated the moment the coins entered the home as a taxable distribution of the entire value.

Two elements of the ruling matter for a Texas reader. First, the court read the physical-possession trigger in IRC Section 408(m) strictly. Once the IRA owner takes possession, the tax wrapper drops. Second, the LLC layer did not shield the taxpayers. Owning the coins through a wholly owned LLC did not change who was in constructive possession.

The practical takeaway is short. A gold IRA is a federal tax structure. The metal must sit with a bank or an IRS-approved non-bank trustee. Your closet, your gun safe, and your Chase safe-deposit box are not qualified holders. Storing at home is a distribution, not a strategy.

The two depositories physically located in Texas

Two purpose-built precious-metals depositories operate inside Texas. One is a state agency. One is a private company. Both hold thousands of ounces of gold and silver for retail and institutional clients. Only the state facility currently publishes an IRA storage path on its own site; the private facility's IRA status should be confirmed with your custodian before you route metal to it.

The Texas Bullion Depository was authorized by House Bill 483, signed by Governor Greg Abbott on June 12, 2015. Operations began in 2017 in a purpose-built facility on a Leander campus. It is the only state-administered precious-metals depository in the United States. The Texas Comptroller of Public Accounts oversees it, and independent audits sit with the Comptroller's office.

The Texas Precious Metals Depository in Shiner is a separate private operator. It is not a state agency and does not have Comptroller oversight. For IRA storage, the important question at any depository is whether an approved custodian will book metal into that vault for your account. Ask your custodian by name before signing.

How IRA storage at the Texas Bullion Depository works today

The Texas Bullion Depository accepts IRA-held metal because its operator became an IRS-approved non-bank trustee in 2023. Lone Star Tangible Assets LP received approval from the Department of the Treasury under Treasury Regulation 1.408-2(e), which is the same regulation that governs other non-bank trustees on the IRS list. That approval lets a self-directed IRA custodian book Texas-vaulted metal as an IRA asset.

Equity Trust Company was named on the depository's IRA storage page as the first self-directed IRA custodian to coordinate storage in Leander after Lone Star Tangible Assets received its trustee approval. The depository plans to add more custodian partners over time. Check the current list on the depository's IRA storage page before assuming your existing custodian can route metal there.

1. Open a self-directed IRA with an approved custodian. Confirm the custodian works with Lone Star Tangible Assets for IRA storage at the Texas Bullion Depository. Equity Trust Company is currently listed as the initial custodian partner on texasbulliondepository.gov.
2. Fund the account. Move retirement money in through a trustee-to-trustee transfer from an existing IRA, a direct rollover from a 401(k) or 403(b), or an annual contribution. The custodian receives the wire; the cash sits in the IRA money market until you place a purchase order.
3. Pick a gold dealer that ships to Leander. Any dealer that can deliver to the Texas Bullion Depository will work. Ask your dealer to confirm they use the depository's dealer shipping instructions and can invoice the custodian directly.
4. Sign the buy direction with your custodian. Specify metals, quantities, dealer, and the delivery destination as the Texas Bullion Depository. The custodian pays the dealer from IRA cash and instructs delivery to Leander.
5. The depository logs receipt. On arrival, staff verify the shipment against the packing list, weigh and inspect the metal, and place it into a segregated storage position under your account. The custodian receives confirmation and updates your account statement.
6. Storage runs in the background. The depository invoices the custodian for storage; the custodian deducts the fee from IRA cash. IRA storage fees are negotiated between the custodian, the dealer, and the depository operator, and may not match the standard rate schedule.
7. Sell or withdraw when the time comes. When you take a distribution or a required minimum distribution starting at age 73 or 75 under SECURE 2.0, the custodian instructs Leander to release metal or sells and wires cash. In-kind distribution is available; delivery costs apply.

Texas depositories versus common national depositories

Most gold IRA custodians work with a small list of nationally recognized depositories. Storage inside Texas is one option; storage in Delaware, Nevada, New York, Massachusetts, or Utah is another. The following comparison covers the facilities most commonly named by self-directed IRA custodians when a Texas customer opens a gold IRA.

The IRS does not publish a single approved-depository list. It approves the custodian; the custodian approves the vault. That is why a Texas resident whose custodian is based in South Dakota may end up with metal in Delaware unless you request Texas storage in writing.

Segregated versus commingled storage at Texas facilities

Two storage styles exist at most depositories. Segregated storage keeps your specific bars and coins in your own bin or shelf, tagged to your account, and returned to you piece for piece when you sell or withdraw. Commingled storage pools your metal with other clients' identical items; you get equivalent quality and weight back, not the same bar.

The Texas Bullion Depository holds all IRA metal in segregated storage. Its IRA storage page states that metals are stored separately and never commingled, so that the exact metals deposited are the ones returned on withdrawal. That is a policy choice, not a federal requirement. Some national depositories offer commingled storage at a lower rate.

Segregated storage costs more because it uses more space and more inventory tracking. Commingled storage is cheaper because it uses the vault more efficiently. For IRA purposes both are legal; the choice is about how you feel about seeing the same serial-numbered bar on withdrawal as the one you paid for. Ask your custodian which style each depository option uses before you sign, and read the fee schedule for each.

Why the no-income-tax advantage does not require Texas storage

Texas has no personal income tax under Article 8, Section 24 of the Texas Constitution. A Texas resident who takes a taxable distribution from a gold IRA, whether a required minimum distribution at age 73 or 75, a Roth conversion, or an early withdrawal, pays federal income tax only. There is no state income tax layer.

Where the metal sits does not change that treatment. A Texas resident whose gold IRA is stored at Delaware Depository still pays federal tax only on distributions. The exemption follows the resident, not the metal. Delaware collects no state income tax from the trust because the trust is your IRA, and the distribution is taxed on your federal return using your Texas residency.

Storing inside Texas has its own benefits, and no-income-tax status is not one of them. Real reasons to prefer a Texas vault include state agency oversight through the Comptroller, physical proximity for in-person viewing at the Leander customer room, and support for a Texas institution. Choose Texas storage for those reasons; do not choose it to unlock a tax break, because there is not a separate one to unlock.

Estimate the long-term drag from storage and administration fees

Storage is one line item inside the recurring cost of a gold IRA. Custodian administration fees, wire fees, and dealer markup add to it. The calculator below models the total effect of recurring fees on your IRA over your holding period. It is a planning tool, not personalized advice, and the dealer markup at purchase is separate from the recurring fees this tool models.

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Frequently asked questions

By the Harry’s Coins Editorial team. Last reviewed June 2026.