Texas Bullion Depository: IRA Storage Options, Insurance and Fees

This page summarizes what the Texas Bullion Depository says about itself, plus what the Texas statutes and Comptroller releases confirm. Statements marked "according to" are the depository's own claims, and we have not tested them. We do not rank depositories. For the wider picture, see our guide to IRA-Approved Depositories.

What is the Texas Bullion Depository, and who runs it?

Texas law creates the depository. Chapter 2116 of the Texas Government Code says it "is established as an agency of this state in the office of the comptroller" and is administered as a division of that office. An administrator, appointed by the Comptroller with the advice and consent of the governor, lieutenant governor and Senate, leads it.

A private company handles day-to-day operations. According to the depository's operator page, Lone Star Tangible Assets (LSTA) was "contracted by the Texas Comptroller of Public Accounts to operate the Texas Bullion Depository." A June 14, 2017 Comptroller release announced LSTA as the operator after a request-for-proposals process. The oversight page puts it this way: it is "operated by a private entity, but audited and overseen by the Texas Comptroller of Public Accounts."

So there are two parties to keep apart: the state agency and the private operator. The older FAQ page says "This is not a public-private partnership." We did not find the operating contract, so we cannot describe its terms.

Per the location page, the facility is in Leander, Texas, just north of Austin. The older FAQ page says Austin and still carries 2017 to 2019 timelines, so we rely on the location page. Ask the depository to confirm the address where your metal would sit.

Can an IRA store metal there?

According to its IRA Storage page, the depository "is available for IRA storage." The page also says:

• LSTA "received IRS approval as a nonbank trustee in 2023."
• The IRS requires IRA precious metals to be held "in the possession of a bank or an IRS-approved nonbank trustee."
• Equity Trust Company "is the first custodian to work with the Texas Bullion Depository," and the depository "will continue to expand its custodial relationships over time."
• Equity Trust "is a directed custodian and does not provide tax, legal, or investment advice."

We did not verify the 2023 IRS approval. The IRS publishes a list of approved nonbank trustees, but we could not read it in this session, so treat the statement as the depository's claim. Our profile of Equity Trust covers that custodian.

The IRS FAQ on IRAs treats metals as collectibles. If an IRA invests in collectibles, the IRS says "the amount invested is considered distributed in the year invested." It describes an exception for certain bullion that a bank or IRS-approved nonbank trustee holds. Whether a given arrangement fits that exception is a question for your custodian and a tax professional. This is our reading of the IRS page, not legal advice.

One product limit appears on the site: "Modern Redbacks do not qualify for holding in an IRA."

What storage does it offer?

The current FAQs say: "The depository currently only offers segregated storage." They also say the same metals come back to you on withdrawal. Our guide to segregated vs. commingled storage explains why that matters. The IRA page adds that metals are "stored separately, never commingled."

The FAQs state: "At this time we accept Gold, Silver, Platinum and Palladium precious metal products." A 2018 Comptroller release also listed rhodium. The newer FAQ does not, so ask which metals are accepted today.

The account types page lists personal, joint, business, trust and estate accounts. IRA assets, though, arrive through a custodian rather than a personal account. Per the FAQs, you do not need a "Depository Agent" to open an account. The older FAQ page says the opposite, which is another reason to ask directly.

What does it say about insurance?

The insurance page says the policy "is underwritten on the Lloyd's of London insurance market." By default, "all items are automatically covered to the value of the metal content of the items." It also says that with a declared value, the depository will insure your items "at either the metal content value, or the declared value — whichever is greater."

We could not read the policy. Limits, deductibles, exclusions and who is named on the policy matter. See our guide to insurance for stored metals, and ask for coverage details in writing.

What does it say about audits and oversight?

The oversight page describes three layers:

1. LSTA is "managed and internally audited," with reports provided daily to the administrator.
2. The administrator and the Comptroller's internal audit team "maintain the ability to audit the depository at any time" and "regularly conduct audits of the assets held in the depository."
3. A third-party accounting firm audits the depository "on a regular basis."

The older FAQ page describes the accounting firm only as "well-known" and Texas-based. We saw no audit report. An outside audit of an operator is not the same as a count of your metal, so ask what the audits cover and how often metal is physically counted.

What does it cost?

The fee schedule says it is effective April 1, 2026 "for all non-IRA accounts." The page explains that one annual rate applies to the account's entire average daily value, not to each tier separately.

Per the page, fees accrue daily and are billed quarterly. The listed rate is the same for gold, silver, platinum and palladium. Other items on the schedule include no account setup fee, no withdrawal fee, and a $35 fee for personal or courier pick-up. Domestic shipping is $17.95 plus 0.0018 times the metal's spot value (or declared value, if one exists), within stated size limits and exclusions.

These rates are for non-IRA accounts. The IRA page says "storage fees for IRA assets are typically negotiated between the custodian, the gold dealer and the depository contractor," and "the fees for standard storage shown on this website may not apply." Your custodian will also charge its own fees. Ask for every storage, shipping and custodian charge in writing. For how these costs fit together, see Gold IRA fees.

What questions should you ask before using it?

1. Which entity holds my metal, the state agency or LSTA, and who is responsible if something goes wrong?
2. Can I see proof of the nonbank trustee approval, and which custodians can place metal there today?
3. What exact storage fee applies to my IRA, and who sets it?
4. Can I see the insurance certificate, limits and exclusions?
5. What do the audits cover, and can I see the latest report?
6. Which metals and products are accepted, and which are not?
7. How are withdrawals, transfers and distributions handled through my custodian?

For other vault operators, see our profiles of CNT Depository, International Depository Services and Delaware Depository.

What we did not check

We did not search for lawsuits, regulator complaints or consumer-review records about the depository or its operator, so this page makes no statement either way. We did not open the Account Holder Agreement or the operating contract. Rates and statements can change; recheck them before relying on them. This profile will be rechecked on the schedule in our update policy.