Mainstar Trust Company is a self-directed IRA custodian based in Onaga, Kansas. It is a limited purpose trust company chartered in the state of Kansas and has been operating since 1977 according to its own website. If you are working with a precious metals dealer that uses Mainstar as its preferred custodian, or if you are evaluating custodian options for a self-directed retirement account, this review covers what is verifiable about the firm, what to ask before opening an account, and how a custodian fits into the broader gold IRA decision.
This review is for educational purposes only. Goldiew is not a financial, legal, or tax advisor. Consult a licensed advisor and a tax professional before making any retirement account decision. Past performance is not a guarantee of future results. Precious metals carry investment risk.
Key Facts at a Glance
| Detail | What We Verified |
|---|---|
| Legal status | Limited purpose trust company chartered in Kansas |
| Headquarters | 214 W. 9th Street, Onaga, KS 66521 |
| Phone (toll-free) | 1-800-521-9897 |
| Phone (local) | 785-712-9000 |
| Business hours | Mon to Thu 8:00 to 4:30; Fri 8:00 to 3:00 (Central Time) |
| Year founded | 1977 (per official site, “trusted since 1977”) |
| Service type | Directed self-directed IRA custodian |
| Coverage | Clients in all 50 states (per official site) |
| IRA account types | Traditional, Roth, Inherited, Rollover, SEP |
| Alternative assets listed | Real estate, private placements, REITs, BDCs, private lending, LLCs, limited partnerships, common and preferred stocks, mutual funds, annuity policies, corporate bonds, CDs |
| Investment advice | None. Official site states “We do not provide investment advice or decisions.” |
| BBB profile | Verify current rating directly at BBB.org |
What Mainstar Trust Actually Does
Mainstar Trust Company is a custodian, not a precious metals dealer. The distinction matters. A custodian holds the legal title to assets inside your self-directed IRA, processes contributions and distributions, files the required tax forms with the IRS, and coordinates with any third-party storage facility where physical assets are held. The custodian does not sell you gold or silver, does not recommend a dealer, and does not give investment advice.
On its own website, Mainstar describes itself as an “experienced retirement custodian” and states plainly that it “does not provide investment advice or decisions.” That language is standard for directed self-directed IRA custodians and is meaningful: the account holder, not the custodian, is responsible for the suitability of every investment. Under IRS Publication 590-A, the IRA owner must follow contribution limits, prohibited transaction rules, and required minimum distribution rules regardless of which custodian holds the account.
For a broader overview of how a self-directed gold IRA actually works, see our gold IRA basics guide and our step-by-step 401(k) to gold IRA rollover guide.
Regulatory Status: Kansas Limited Purpose Trust Company
Mainstar Trust is chartered as a limited purpose trust company under Kansas law. Limited purpose trust companies are state-regulated entities authorized to act as custodian for retirement accounts and other fiduciary arrangements, but with a narrower charter than a full-service commercial bank. They do not take consumer deposits or make commercial loans.
Two practical implications for IRA holders to keep in mind:
- State trust company oversight. Mainstar operates under the Kansas regulatory regime for trust companies. This is the standard structure for many self-directed IRA custodians, including several of Mainstar’s industry peers.
- FDIC and SIPC coverage do not apply to physical assets. Physical precious metals or real estate held in an IRA are not insured by the FDIC or the SIPC. Cash sweep balances inside the IRA may carry coverage depending on where the cash is held; confirm specifics in writing with Mainstar before relying on any particular protection.
Asset Types Mainstar Trust Supports
Mainstar lists a broad menu of alternative and traditional assets that can be held in its self-directed IRAs. The categories listed on the official site include:
- Real estate (titled in the name of the IRA, or held through LLCs and limited partnerships)
- Private placements
- REITs (Real Estate Investment Trusts)
- BDCs (Business Development Companies)
- Private lending
- LLCs and limited partnerships
- Common and preferred stocks
- Mutual funds
- Annuity policies
- Corporate bonds
- Certificates of deposit
This breadth signals an established alternative-asset custody operation rather than a metals-only shop. For investors who already work with Mainstar on another asset class, adding an additional asset sleeve under the same custodian can simplify administration.
Precious Metals: Confirm Before You Sign
The list of asset categories above, as displayed on the official site, does not prominently call out physical precious metals in the same way some other self-directed IRA custodians do. Some metals dealers do use Mainstar as their custodian of record for precious metals IRAs. If a dealer has placed you with Mainstar for a gold or silver IRA, ask Mainstar to confirm in writing, before you fund the account, the following:
- Acceptance of the specific metals and products you intend to buy. IRA-eligible coins and bars must meet the fineness standards in IRS Publication 590-A. Confirm Mainstar accepts your dealer’s specific product list.
- The depository (or depositories) Mainstar uses. IRS rules require physical IRA metals to be held by an approved trustee or depository. Get the depository name in writing.
- The current fee schedule. Custodian maintenance fees, transaction fees, wire fees, and depository storage fees. Request the document directly.
- Insurance arrangements on the metals at the depository. The depository carries private insurance on stored metals. Get the coverage details from the depository, not just the dealer.
Our gold IRA fees comprehensive breakdown walks through typical industry ranges so you can compare the Mainstar fee schedule against peers when you receive it.
Who Typically Ends Up at Mainstar Trust
Most retail self-directed IRA investors do not pick the custodian first. They pick the dealer (for metals) or the deal sponsor (for real estate or private placements), and that party routes them to its preferred custodian. Mainstar Trust appears in the back office of several alternative-asset platforms and a portion of precious metals dealers that use it as their default IRA custody partner.
If your dealer or sponsor has placed you with Mainstar, the practical questions to ask are:
- What is the full annual cost? Custodian maintenance plus storage (if metals) plus any transaction or wire fees. Get the number in writing on Mainstar letterhead or by direct email from a Mainstar representative.
- What is the timeline from account opening to assets fully transferred? Industry-typical timelines for a metals IRA run 5 to 15 business days after the funded transfer arrives, but the actual range varies by account type and rollover source.
- How are distributions handled? Confirm the process and any fees for both cash distributions and in-kind distributions of physical metals, since taking physical possession outside an in-kind distribution may trigger a taxable event under IRS rules. Consult your tax advisor for your specific situation.
- Who is the named depository on the application? If you have a preference for a specific depository, confirm compatibility with the dealer and with Mainstar before signing.
For a full pre-purchase due-diligence framework, our 30-question pre-purchase checklist covers what to verify with both the dealer and the custodian before signing paperwork.
Who Should Look Elsewhere
Mainstar Trust is a legitimate trust company. That does not mean it is the right fit for every investor. Consider whether a different custodian or a different overall path may suit you better if any of the following applies:
- You want metals-specific service depth. Some custodians publish detailed precious metals pages with named depositories, accepted products, and fee tables. If you prefer a custodian that markets itself primarily as a metals specialist, the Mainstar generalist model may not match what you want.
- You want hand-holding through the rollover. Some precious metals dealers walk customers through the entire rollover process with their own back-office teams, and the custodian relationship is bundled in. Mainstar’s role with the investor tends to be more administrative.
- You want a published, fixed fee schedule on the public site. If the dealer routes you to Mainstar without an attached fee document, request the schedule from Mainstar before signing.
- You are not yet sure a gold IRA is right for you. Spending time on a custodian comparison before settling the upstream question is putting effort in the wrong order. Read our gold IRA basics guide first, then evaluate dealers, then look at the custodian relationship the dealer recommends.
For a side-by-side look at the gold IRA companies Goldiew tracks closely, see our best gold IRA companies guide. Among the firms we cover, Augusta Precious Metals has operated since 2012 and has been recognized as Money Magazine’s Best Overall Gold IRA Company from 2022 through 2026, with a BBB A+ rating and zero complaints on its BBB page at the time of writing.
Independent Verification: BBB and Regulatory Status
Mainstar Trust is listed on the Better Business Bureau. Rather than quoting a letter grade that may change after this article is published, we recommend verifying the current grade, accreditation status, and any complaint history directly at the BBB business profile for Mainstar Trust.
For Kansas regulatory status, limited purpose trust companies are supervised by the Office of the State Bank Commissioner of Kansas. Investors who want primary-source confirmation can request the current charter status from the Kansas regulator directly.
The FINRA precious metals fraud alert remains a useful general-purpose checklist when evaluating any party in a precious metals IRA transaction. The SEC investor bulletin on self-directed IRAs covers risks specific to alternative-asset retirement accounts and is worth reading regardless of which custodian you ultimately use.
The Bigger Picture: Custodian vs Dealer Decision
The most common mistake retail gold IRA investors make is treating the custodian decision as a primary one. In practice, the dealer drives the experience. The dealer determines how the rollover is paced, which products are offered, what the markups look like over spot, which custodian is used, and which depository receives the metals.
Mainstar Trust being a sound back-office choice does not, by itself, make any specific dealer the right choice for your retirement account. Conversely, a dealer with strong customer ratings, transparent pricing, and a clean compliance record is the right starting point, regardless of which custodian ends up holding the assets.
Our recommended sequence:
- Read the gold IRA basics guide to confirm a precious metals IRA fits your situation. Consult your financial advisor on this question.
- Use the 30-question pre-purchase checklist to vet any dealer you contact.
- Read the hidden fees warning guide before signing any agreement.
- Compare custodians (Mainstar Trust, Equity Trust, The Entrust Group, Strata Trust, Kingdom Trust, GoldStar Trust) only after narrowing your dealer choice, since the custodian is often determined by the dealer.
Frequently Asked Questions
Is Mainstar Trust Company a real trust company?
Yes. Mainstar Trust is a limited purpose trust company chartered in Kansas, with its headquarters in Onaga, Kansas. The official site states the company has been operating since 1977 and currently serves clients in all 50 states.
Where is Mainstar Trust located?
The address is 214 W. 9th Street, Onaga, KS 66521. The toll-free phone number is 1-800-521-9897 and the local number is 785-712-9000. Business hours are Monday through Thursday from 8:00 to 4:30 and Friday from 8:00 to 3:00, on Central Time.
Does Mainstar Trust handle precious metals IRAs?
Mainstar Trust supports a wide range of alternative assets inside self-directed IRAs. Investors who want to hold physical gold, silver, platinum, or palladium should confirm in writing with Mainstar that the specific products their dealer plans to purchase are accepted, which depository or depositories will be used, and the full fee schedule that will apply to the metals IRA, before opening or funding an account.
Does Mainstar Trust give investment advice?
No. Mainstar Trust states on its official site that it does not provide investment advice or decisions. As a directed self-directed IRA custodian, Mainstar holds the account, processes contributions and distributions, and files required IRS reporting. The account holder selects assets and is responsible for compliance with IRS rules.
What does a self-directed IRA custodian like Mainstar do?
A self-directed IRA custodian holds legal title to assets in the IRA, processes contributions and required minimum distributions, files tax forms such as the 5498 and 1099-R with the IRS, and coordinates with the depository where physical metals or other alternative assets are stored. The custodian is not a dealer and does not give advice on what to buy.
How does Mainstar Trust compare to other gold IRA custodians?
Mainstar is one of several self-directed IRA custodians active in the alternative asset space, alongside Equity Trust, The Entrust Group, Strata Trust, Kingdom Trust, and GoldStar Trust. Each has its own fee schedule, depository relationships, asset acceptance criteria, and application process. Most retail investors meet their custodian only after their dealer routes them to its preferred partner.
How can I verify Mainstar Trust on the BBB?
Visit bbb.org and search for Mainstar Trust under the Onaga, Kansas listing, or use this direct link: BBB profile for Mainstar Trust. Check the current letter grade, accreditation status, and complaint history directly rather than relying on a third-party claim.
Sources and Methodology
This review is based on direct review of Mainstar Trust’s official website (mainstartrust.com), reviewed in June 2026. We verified the following information on-site: that Mainstar is a limited purpose trust company chartered in Kansas, the operating-since date of 1977, the headquarters address at 214 W. 9th Street in Onaga, the toll-free and local phone numbers, the business hours, the categories of IRA account types supported (Traditional, Roth, Inherited, Rollover, SEP), the broad list of alternative assets supported, the statement that Mainstar does not provide investment advice or decisions, and the statement that Mainstar serves clients in all 50 states.
We did not quote a current BBB letter grade in the body of this review because BBB ratings change over time and should be checked at the source. The direct BBB profile link is provided above.
We did not extract a fixed fee schedule because the public site directs prospective customers to request current numbers. Confirm the schedule directly with Mainstar before opening an account.
Regulatory references: IRS Publication 590-A (Contributions to Individual Retirement Arrangements), IRS Publication 590-B (Distributions from Individual Retirement Arrangements), FINRA Investor Insights on precious metals fraud, and the SEC investor bulletin on self-directed IRAs.
Consult your tax advisor for your specific situation. Goldiew is not a financial, legal, or tax advisor. This review is for educational purposes only and is not an endorsement of Mainstar Trust Company or of any precious metals investment.
Last reviewed: 2026-06-10.