Take the right documents to a branch with a small business specialist to get your account set up soon as possible.
An unregulated trust is not regulated by a government or regulatory body
E.g. Unit trust, family trust, discretionary trust, deceased estate, managed fund
Details we need
Full name of trust
Full business name of the trustee (if any)
Full name of the settlor of the trust (unless initial settlement was less than $10,000 or settlor is deceased)
Full name of each beneficiary of the trust (or details of the class)
The type of trust
Industry in which trust operates
Tax residency information - including countries of residency and tax identification number
Tell us if the company earn more than 50% of its income from investing activities
Documents we check
ID for yourself, each individual trustee, each corporate trustee (if any), all beneficial owners1 of the trust and anyone else you'd like to operate the account.
If you have a Trust Deed, we'll need an original, certified copy (or certified extract) of it, showing trust name, trustee names, beneficiaries, settlor name and where necessary, the amount
If your trust doesn't have a Trust Deed, we'll need an original or a certified copy (or certified extract) of notice from the Australian Tax Office (that's less than 12 months old)
If you have any corporate trustees, they will also need to bring documents relevant to their business structure. E.g. If the corporation is an Australian Domestic Proprietary Limited, they should refer to the Australian Domestic Proprietary Company checklist
1A beneficial owner is someone who owns 25% or more of the company, controls 25% or more of the company through voting rights or exercises control by way of making key financial or operational decisions.