A formal trust is a structure where a trustee, which can either be an individual or a company, carries on business for the benefit of certain beneficiaries. A formal trust deed outlines how the trust will operate and how profits are distributed into the trust fund amongst the beneficiaries.
Follow the steps below to learn how to set up a trust fund with People's Choice.
To operate a trust fund account, a formal trust deed is required, which will state who are the trustees. The trustees can be an individual or a company.
Please ensure all trustees have had their ID verified in a branch.
Once completed, you may be able to open the trust's business membership from the comforts of your office - please proceed to step 2.
All trustees must sign the membership application form.
You'll need to setup your company membership first. Please click here and follow the steps before continuing with Step 2 below.
Once completed, you can hand in both application forms (company and formal trust) together in Step 3.
All directors/trustees must sign the membership application form.
Business Membership Application
Click the button below to download the application form.
Australian Business Number
Please let us know the ABN of your Trust.
ABN not at hand? Simply look it up with the Australian Business Register at the following link: http://abr.business.gov.au/
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