Preferred Trust Company Gold IRA Custodian Review

Most investors researching self-directed IRA custodians run into the same obstacle: they cannot tell whether the company they are speaking with actually holds their assets or simply processes the paperwork through another institution. Preferred Trust Company publicly describes itself as both the custodian and the administrator of record, which is a structural claim worth examining carefully before any account decision. This review covers what that claim means in practice, what the published fee schedule contains, how storage options work, and who the company actually serves well.

Custodian and Administrator: Why the Distinction Matters Here

Preferred Trust Company describes itself on its website as performing “the duties of a custodian.” It is chartered as a retail trust company under Nevada law, which gives it the legal authority to serve directly as a custodian rather than routing custody through a separate institution. This is the structural differentiator the company emphasizes: the absence of a layer between you and the regulated entity holding your assets. When you ask a question about your account or initiate a transaction, you are dealing with the same institution that actually holds your IRA.

The practical consequence the company highlights is speed. In administrator-only structures, funding a transaction requires two separate institutions to coordinate. Preferred Trust’s combined structure means a single institution handles both the administrative request and the custodial execution. Whether that speed advantage is material for your situation depends on how frequently you transact and how time-sensitive those transactions are.

For a full comparison of how custodian-only, administrator-only, and combined structures differ in terms of regulatory oversight and investor protection, see our guide on who regulates gold IRA custodians.

Nevada Licensing and Regulatory Oversight

Preferred Trust Company holds License No. TR10025 issued by the Nevada Financial Institutions Division. Nevada’s FID supervises trust companies chartered under NRS Chapter 669 and conducts annual examinations of each licensed entity. Annual examination means a regulator reviews the company’s books, operations, and compliance practices at least once per year. This differs from states where self-directed IRA administrators operate without direct examination of their financial operations.

The Nevada FID maintains a public register of licensed trust companies. Investors can verify Preferred Trust’s active license status directly at the FID’s online lookup. Checking that database takes less than a minute and confirms the company is current with its licensing obligations at the moment you verify, not just at the time a review was written.

One historical note from the company’s own About page: in 2015, Preferred Trust became the receiver custodian for a top-five Nevada custodian that had been operating without proper licensing. The company absorbed the affected accounts under its own licensed charter. That episode, while resolved over a decade ago, illustrates what can happen when investors choose an unlicensed or inadequately supervised entity. Regulatory status is not a technicality worth skipping.

In addition to Nevada FID oversight, Preferred Trust must comply with IRS regulations governing nonbank custodians under Internal Revenue Code Section 408(a). IRS Publication 590-A covers the rules that any IRA custodian must follow, including reporting obligations, contribution limit enforcement, and distribution requirements.

Precious Metals Supported

Preferred Trust began accepting precious metals in 2019. The four metals it supports as IRA assets are gold, silver, platinum, and palladium. Each carries the fineness threshold established by the Taxpayer Relief Act of 1997 and codified in IRC Section 408(m)(3):

• Gold: 99.5% minimum fineness. The American Gold Eagle is the statutory exception, qualifying despite its 91.67% gold content due to an explicit IRS carve-out.
• Silver: 99.9% minimum fineness. The American Silver Eagle qualifies under the same statutory exception structure.
• Platinum: 99.95% minimum fineness.
• Palladium: 99.95% minimum fineness.

Eligible forms include specific US Treasury coins and bullion bars manufactured to exact weight specifications by accredited refiners. Numismatic coins and collector items generally do not qualify. Preferred Trust’s precious metals page confirms this framework aligns with IRS requirements. Before purchasing any specific coin or bar for an IRA, verify its eligibility with both the custodian and your tax advisor, particularly for proof coins or foreign-minted products that fall into less defined territory.

Personal storage of IRA-owned precious metals is prohibited under current IRS rules. The metals must be held by a bank or an IRS-approved nonbank trustee. Preferred Trust’s position as a licensed nonbank trust company means it qualifies for this role directly. Any arrangement where you, an LLC you control, or a home vault holds the metals is inconsistent with IRS requirements and risks account disqualification.

Fee Schedule

Preferred Trust publishes a fee schedule as a downloadable PDF at preferredtrustcompany.com. Not all competitors make their fee schedules publicly available before a sales conversation, so the existence of a downloadable schedule is a usable comparison point. The figures below were verified on the company’s public precious metals page at the time this review was written. Pull the current PDF before making any account decision, since fees can change without advance notice.

The $300 annual administration fee covers a meaningful bundle of services: IRS tax reporting (Form 5498 for contributions, Form 1099-R for distributions), daily precious metal valuations, and coordination with the depository for fee processing. For context, the annual administration fee is the cost of maintaining the account structure. Storage costs are separate and depend on which depository you choose and whether you select segregated or non-segregated storage.

Total first-year cost for a precious metals IRA with Preferred Trust includes the $300 administration fee plus depository storage fees. On a $100,000 account, your total annual cost depends heavily on which depository you use and whether you opt for segregated storage. Segregated storage, where your specific bars and coins are stored separately and returned to you upon distribution, costs more than non-segregated storage. Ask for the current storage fee schedule from your chosen depository before committing.

For a side-by-side fee comparison across multiple SDIRA custodians that accept precious metals, see our full SDIRA custodian comparison.

Storage Options and Depository Partners

Preferred Trust’s precious metals page identifies two depository relationships as of the time this review was written. Depository arrangements can change, so verify current options directly with Preferred Trust before opening an account.

The first is Strategic Wealth Preservation (SWP), an offshore depository based in the Cayman Islands. SWP operates storage facilities both internationally and domestically, with US-based storage options in Texas and Delaware. Offshore storage within an IRA is legal but introduces additional considerations: currency risk on dollar-denominated metals is not the issue, but repatriation logistics, audit access, and estate settlement can become more complex for heirs. Some investors specifically want offshore storage for diversification purposes; others prefer to keep assets on US soil. SWP’s US-based Texas and Delaware options address that preference within the same depository relationship.

The second is St. Joseph Partners, a domestic dealer providing precious metals purchasing and multiple storage options. The precise facilities St. Joseph Partners uses for actual vault storage were not publicly specified on the site at the time of this review. Ask Preferred Trust for the specific vault location, whether the facility is COMEX-approved or LBMA-associated, and whether annual audits are conducted by a third party.

On storage type: segregated storage guarantees that you receive the same specific items upon distribution. Your Eagle coins or specific bars are physically separated and labeled as yours. Non-segregated (fungible) storage pools equivalent products together. You receive items of equivalent type and weight upon distribution, but not necessarily the exact pieces you originally deposited. Non-segregated costs less. The choice has no tax consequence, but it has implications for investors who value chain-of-custody documentation on specific products.

Account Opening Process

Preferred Trust operates a client portal at icp.infovisa.com/0234. New accounts can be initiated through the company’s website at preferredtrustcompany.com. The general sequence for opening a precious metals IRA follows the standard SDIRA pattern:

1. Complete and submit the account application through the Preferred Trust portal.
2. Select an IRA type: traditional, Roth, SEP, or SIMPLE IRA, depending on your eligibility and tax situation.
3. Fund the account through a direct transfer (trustee-to-trustee from an existing IRA), a 60-day rollover from an eligible retirement account, or a new cash contribution subject to annual limits.
4. Select a precious metals dealer and specific products that meet IRS fineness requirements.
5. Direct Preferred Trust to purchase the metals on your behalf; the metals are delivered by the dealer directly to the depository, not to you.
6. Confirm storage arrangement with the chosen depository and receive confirmation of holding.

If you are moving funds from a workplace plan such as a 401(k) or 403(b), the rollover rules matter. A direct rollover (also called a trustee-to-trustee transfer) avoids mandatory withholding. An indirect rollover gives you 60 days to deposit the funds but subjects the distribution to 20% withholding on the gross amount, which you must replace from personal funds to avoid a taxable distribution. IRS Publication 590-A describes both options in detail. The IRS also provides hardship exceptions to the 60-day rule under Revenue Procedure 2016-47 for situations such as financial institution error or natural disaster.

Who Preferred Trust Serves Well

Questions to Ask Before Opening an Account

Any custodian review based on public sources has limits. Information on websites changes, depository relationships evolve, and fees adjust. Before submitting an application, get answers to these questions directly from Preferred Trust:

1. Current fee schedule: Request the full PDF and ask whether the $300 annual fee covers all administration or whether additional fees apply for specific transaction types.
2. Depository specifics: Which vault facilities does each depository partner use? Are those facilities COMEX-approved or LBMA-associated? What is the audit schedule and who conducts it?
3. Segregated storage costs: What is the per-year storage fee for a segregated account holding, for example, $100,000 in gold?
4. Account termination fee: What does it cost to close the account or transfer assets out?
5. License verification: Confirm License No. TR10025 is active with the Nevada Financial Institutions Division at the time you are opening.
6. Transaction processing time: How long does a typical purchase transaction take from instruction to confirmation at the depository?