KYC requirement for trust

Trustee

Name

  • Full name of the trust (see AML/CTF Rule 4.4.5(1) for more detail on how to verify)

  • Full business name (if any) of the trustee of the trust

  • Full name of all trustees

  • The settlor of the trust, unless:

    • the material asset contribution to the trust by the settlor at the time the trust is established is less than $10,000; or

    • the settlor is deceased; or

    • the trust is verified using the simplified trustee verification procedure

Address

  • Full address of all trustees

Other

  • Information regarding the type of trust and the country in which the trust was established

Beneficiaries

Provide one of the following:

  • The full name of each beneficiary of the trust (see AML/CTF Rules 4.4.11-4.4.12 for more information about verification)

  • If beneficiaries are identified by reference to a class, details of the class (see AML/CTF Rules 4.4.11-4.4.12 for more information about verification)

Sole trustee

  • Information relating to the sole trustee (as per appropriate 'Individual' or 'Company' identification procedure)

Multiple trustees

  • Information relating to one trustee (as per appropriate 'Individual' or 'Company' identification procedure)

Beneficial owner(s)

  • Determine the beneficial owner(s) of the trust

  • Collect and take reasonable measures to verify each beneficial owner’s full name and one of either the beneficial owner’s date of birth or full residential address

  • Determine whether a beneficial owner of the trust is a PEP

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