Goldstar Trust Company Expands Partnership with Texas Precious Metals
CANYON, Texas, June 8, 2021 /PRNewswire/ -- GoldStar Trust Company, one of America's largest custodians of self-directed IRAs specializing in precious metals, announces the addition of Texas Precious Metals Depository ("TPMD") as a secure storage location for customers. In conjunction with GoldStar's custodial services, TPMD will complement the retail services provided by Texas Precious Metals to provide turnkey solutions for precious metals IRA investors.
Per the Internal Revenue Code, retirement investors may incorporate physical bullion and coins meeting specific criteria into their portfolios while retaining the applicable tax benefits of their accounts. Any precious metals held in such accounts must be stored in a depository or other qualified third-party storage facility.
"We are excited to meet the growing needs of GoldStar Trust's precious metal investors by providing them with a secure storage option right here in Texas," said Jeff Kelley, president of GoldStar Trust Company. "Tarek and his team have been great partners for many years, and Texas Precious Metals was the clear choice."
"Having worked with GoldStar Trust for more than a decade, we believe them to be the premier IRA custodian in the United States. We are thrilled for the opportunity to expand our partnership and provide a Texas-based storage option for GoldStar clients," said Tarek Saab, President of Texas Precious Metals and TPMD.
Texas Precious Metals Depository is a private underground bullion depository. The facility is entombed in concrete with multiple layers of protection, bulletproof doors, biometric access, armed security and 24/7/365 interior and exterior surveillance. TPMD is insured by underwriters at Lloyd's of London and monitored by county and city law enforcement.
About GoldStar Trust Company GoldStar Trust began serving customers in 1989 and is the leader in providing specialized services as a self-directed IRA custodian, trustee and escrow/paying agent. With over $2.5 billion in assets, GoldStar Trust is custodian for more than 37,000 self-directed IRAs and offers unique retirement solutions that allow investors across the nation to diversify their IRA portfolios with alternative investments to traditional stocks, bonds and mutual funds. GoldStar Trust is the trust branch of Happy State Bank.
About Texas Precious Metals Depository TPMD has been used as the main storage and logistics center for Texas Precious Metals since 2012, processing nearly $1 billion in precious metals transactions during that time while servicing private, commercial and institutional clients. Texas Precious Metals and TPMD are subsidiaries of Kaspar Companies, a fifth-generation Texas business founded in 1898.
SOURCE GoldStar Trust Company