Trust accounts forms and guide

A trust account is where a trustee can hold money on behalf of a client. A trustee is a public accountant who receives money on behalf of another person and must account to that person. It can also include solicitors or licensees.

Also provided are forms for:

  • declaring the trustees of new trust accounts (form 1)
  • new trust account checklist (form 1A)
  • updating details of trust accounts (form 2)
  • ending trustee status (form 3)
  • declaring account used solely for tax refunds and the cashbook balance was nil at the end of each day (form 4A)
  • declaring the highest amount held in the account at the end of any day if account does not relate solely to income tax returns (form 4B)
  • information is provided to assist auditors fully address the 25 point “Prescribed Information for Audit Report” (form 5)
  • closure of a trust account (form 6)
  • resignation of an auditor (form 7)

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Last Updated May 10, 2022, 10:26 (AEST)
Created August 26, 2014, 16:57 (AEST)