What the custodian does
A custodian holds and administers the IRA, processes transactions and maintains account records according to its procedures.
For Silver IRA decisions, treat this as one part of the full account picture: eligibility, custody, fees, liquidity, tax rules and alternatives should be evaluated together.
What the custodian does not do
Investor.gov warns that self-directed IRA custodians generally do not evaluate the quality or legitimacy of the investment, verify promotional claims, or provide investment advice.
What to compare
Review annual fees, transaction charges, processing times, online access, distribution procedures, approved depositories and how the custodian handles asset valuation.
For Silver IRA decisions, treat this as one part of the full account picture: eligibility, custody, fees, liquidity, tax rules and alternatives should be evaluated together.
Verify legitimacy
Investor.gov recommends checking that a self-directed IRA custodian is legitimate and notes that an IRS list of approved nonbank trustees can be one verification resource, though it is not exhaustive.
Ask about coordination
Find out which tasks the dealer handles, which require the custodian, and whom you contact for purchases, sales, transfers and distributions.
For Silver IRA decisions, treat this as one part of the full account picture: eligibility, custody, fees, liquidity, tax rules and alternatives should be evaluated together.
Keep independence in mind
A smooth operational relationship can be useful, but the custodian's participation is not an endorsement of the investment.