AMLHUB

When a trust is your client, you will need to first obtain a copy of the trust deed and any associated amendments to the trust deed.<br><br>You will need to confirm the following information:

Full name of the trust - this will be noted in the trust deed.

Full business name of the trustee in respect of the trust (if applicable).

Address of the trust (note: not all trusts will have an address, if the trust does not have an address, you will need to note this). You will need to verify the trust’s address against supporting documents.

For named beneficiaries - where there are less than 10 beneficiaries, obtain their name and date of birth. There is no requirement to verify these individuals (so no need to collect identity documentation).

For discretionary trusts or where there are more than 10 beneficiaries, simply obtain and record the class of each type of beneficiary, this will usually be recorded in the trust deed.

1. Full name of the trust - this will be noted in the trust deed.
2. Full business name of the trustee in respect of the trust (if applicable).
3. Address of the trust (note: not all trusts will have an address, if the trust does not have an address, you will need to note this). You will need to verify the trust’s address against supporting documents.
4. For named beneficiaries - where there are less than 10 beneficiaries, obtain their name and date of birth. There is no requirement to verify these individuals (so no need to collect identity documentation).
5. For discretionary trusts or where there are more than 10 beneficiaries, simply obtain and record the class of each type of beneficiary, this will usually be recorded in the trust deed.

Additionally, you need to do CDD in line with the requirements for individuals/natural persons on the following:

Please refer to your AML Compliance Officer and AML/CFT Compliance Programme and the Trusts Fact Sheet available on the DIA website for further information regarding trust type clients.