Open a CMA or Term Deposit for a trust

A trust is a legal arrangement whereby a trustee holds and manages assets for the benefit of one or more beneficiaries.

A trustee can be either a corporate trustee (a registered company with director/s and shareholder/s) or an individual trustee (a person/s).

This information relates to applications where a trust will be the owner of a:

• Macquarie Cash Management Account
• Macquarie Term Deposit

You’ll need to provide the full name of each Beneficial Owner of the trust.

A Beneficial Owner of an trust (other than a unit trust) is generally:

• the individual trustee/s, or
• the Beneficial Owners of the corporate trustee.

A Beneficial Owner of a unit trust is any individual who holds 25% or more of the units in the trust. If there is no such individual, provide the full name of each individual who controls the trust.

We also require the full name of each Appointor/ Principal/ Protector/ Guardian, or confirmation there is no such person. These details are typically documented within the ‘Schedule’ section of a trust deed.

You’ll need to provide the full name of each beneficiary of the trust, ensuring beneficiaries are entered exactly as per the trust deed.

Beneficiary details are typically documented within the ‘Schedule’ section of a trust deed.

Named beneficiaries can be individuals (e.g. Jane Smith), entities (e.g. Smith Pty Ltd) or other legal arrangements (e.g. Jane Smith ATF Smith Family Trust).

If the trust deed identifies named beneficiaries, provide the full name of each named beneficiary in the application form. It’s important that all named beneficiaries are provided, even if they’re listed under different headings (e.g. Primary Beneficiaries, Secondary Beneficiaries).

If any named beneficiary is also a trustee or beneficial owner, you will have the option to tick the box next to their name to pre-fill their details. Otherwise, select the option to add named beneficiaries.