What you need to open an account for an unregulated trust

To apply for a Macquarie Cash Management Account (CMA), Term Deposit or Wrap IDPS account on behalf of an unregulated trust, you’ll need to provide the following information to us:

1. Trust documents: 
   • For Wrap IDPS unregulated trust applications, a certified copy of the trust deed and Deeds of amendments (if any). The name of the Trust, Trustee(s), Settlor, Beneficiaries or Class(es) of beneficiaries and Appointors/protectors (if any) needs to be entered exactly as per the trust deed.
   • For CMA and Term Deposit unregulated trust applications, a certified copy of the trust deed is no longer required. Instead, a licensed financial adviser with a Macquarie ID can digitally verify the trust within the application form. For the following trust types, adviser verification can be used in place of providing the trust deed:
     • Individual and Corporate Trust
     • Family Trust
     • Discretionary Investment Trust
     • Charitable Trust
     • Disability Trust
     • Property Trust
     • Hybrid Trust
     • Trading Trust
     • Unit Trust
   • For a unit trust, a certified copy of the unit registry will still need to be provided.
   • For a deceased estate application, if a formal deed is not available or required to be created, we will require a certified copy of probate.
   • See our certification requirements in Personal Help Centre.
     
     
2. Trust details: Please provide us with the trust details, including:
   • Name of the trust
   • Full name of business (if any)
   • Australian Business Number (ABN) and Tax File Number (TFN), or a reason for exemption
   • Details of any foreign tax residency (please note, we're unable to accept applications for foreign trusts or entities)
   • Source of wealth 
   • The type of trust
   • Trust description
   • The industry in which the trust operates in
   • The nature of the trust activity
   • If the controlling parties are also beneficiaries
   • The category of the trust (Active Non-Financial Entity (NFE), Financial Institution, Australian Registered Charity or Deceased Estate, or other. If ‘Other’ is selected, we also need details of any foreign tax residency, including a Tax Identification Number (TIN) if applicable.
      
3. Trust settlor details: If the sum of the trust is more than $10,000 on establishment, please provide the following information:
   • Confirmation of the entity that settled the trust, including the name of the individual, company or trust who is the settlor.
     • If the settlor is a company, provide the ACN.
     • If the settlor is a trust, provide the ABN of the trust.
     • In the event the settlor is unknown or passed away, include the trustee's detail in the settlor section.
        
4. Trustee details: Please provide us with details of the trustees of the trust, including:
   • For an individual trustee:
     • Full legal name (including any middle names)
     • Any other name known by
     • Date of birth
     • Mobile number
     • Email address
     • Residential address
     • Occupation
     • Source of wealth
     • Details of any foreign tax residency, including a Tax Identification Number (TIN) if applicable
     • Identification information (Australian driver's licence or Australian passport). If we can't electronically verify the client, we will require a certified copy of ID. 
     • If your client doesn’t have an Australian driver’s licence or Australian passport, select the option ‘Applicant does not have an Australian driver’s licence or Australian passport’ in the online application form. Please note that if this option is selected, additional documentation will be required.
     • If foreign photo identification is provided for the client, we will still need to establish a connection to Australia (e.g. Valid Visa or Australian citizenship). Additional documentation may be required depending on the tax residency details provided. 
        
   • For a company trustee:
     • The company’s name and ACN
     • Industry in which the company operates
     • Source of wealth
     • Registered office and principal place of business address/es
     • Company officer details, including:
       • Title
       • Full legal name (including any middle names)
       • Any other name known by
       • Date of birth
       • Occupation
       • Mobile number
       • Email address
       • Residential address
       • Source of wealth
       • Identification information (Australian driver's licence or Australian passport). If we can't electronically verify the client, we will require a certified copy of ID. 
       • If your client doesn’t have an Australian driver’s licence or Australian passport, select the option ‘Applicant does not have an Australian driver’s licence or Australian passport’ in the online application form. Please note that if this option is selected, additional documentation will be required.
       • If foreign photo identification is provided for the client, we will still need to establish a connection to Australia (e.g. Valid Visa or Australian citizenship). Additional documentation may be required depending on the tax residency details provided. 
          
   • Details of the underlying beneficial owner of the corporate trustee, including:
     • Full legal name (including any middle names)
     • Date of birth
     • Occupation
     • Mobile number
     • Email address
     • Residential address
     • Source of wealth
     • Details of any foreign tax residency, including a Tax Identification Number (TIN) if applicable
     • Identification information (Australian driver's licence or Australian passport). If we can't electronically verify the client, we will require a certified copy of ID. 
     • If your client doesn’t have an Australian driver’s licence or Australian passport, select the option ‘Applicant does not have an Australian driver’s licence or Australian passport’ in the online application form. Please note that if this option is selected, additional documentation will be required.
     • If foreign photo identification is provided for the client, we will still need to establish a connection to Australia (e.g. Valid Visa or Australian citizenship). Additional documentation may be required depending on the tax residency details provided. 
     • If the company shares are non-beneficially held, we will require a copy of the company share certificate and a certified copy of trust deed, if the shares are held within a trust structure.
       
       
5. Trust beneficial owner details: Please provide us with details of the beneficial owners of the trust, including:
   • Full legal name (including any middle names)
   • Date of birth
   • Occupation
   • Mobile number
   • Email address
   • Residential address
   • Source of wealth
   • Role in the entity 
   • Details of any foreign tax residency, including a Tax Identification Number (TIN) if applicable
   • Identification information (Australian driver's licence or Australian passport). If we can't electronically verify the client, we will require a certified copy of ID. 
   • If your client doesn’t have an Australian driver’s licence or Australian passport, select the option ‘Applicant does not have an Australian driver’s licence or Australian passport’ in the online application form. Please note that if this option is selected, additional documentation will be required.
   • If foreign photo identification is provided for the client, we will still need to establish a connection to Australia (e.g. Valid Visa or Australian citizenship). Additional documentation may be required depending on the tax residency details provided. 
   • If the trust type is a unit trust, the beneficial owners of the unit holders are classed as the unit trust beneficial owners. See Determining beneficial ownership for more information.
      
6. Trust beneficiaries’ details: Please provide us with details of all the beneficiaries listed in the trust deed, including:
   • If they’re an individual, entity or class of beneficiaries
   • Name of individual beneficiaries:
     • Named individual or entity beneficiaries are individuals and entities who are specifically named within the trust deed
     • If an individual is not named, they may fall into a class of beneficiaries.
   • Description of classes of beneficiaries (e.g. children)
   • Unit trust: The unit holders individuals and/or entities are the named beneficiaries. 
      
7. Account details: Please provide details about source of funds and the purpose of the account.
   
   
8. Account authorities: If you’d like to appoint third parties on the account, we’ll also ask you for their details.
   
   
9. The information about the trust that’s been entered into the application will be prepopulated into a digital verification form. A financial adviser with a Macquarie ID is required to complete the verification by entering their details, including their Macquarie ID. Please note that an administrator or support staff member is not authorised to complete this section on the adviser’s behalf.

You’ll need to provide the full name of each beneficial owner of the trust.

A beneficial owner of a 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. For more information see Determining beneficial ownership.

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.

If the trust deed does not identify any named beneficiaries, you’ll need to confirm which categories of classes are listed in the trust deed (noting multiple classes may exist):

• Family members (e.g. children of a trustee)
• Non-family members (e.g. directors)
• Non-individual entities (e.g. charitable or religious organisations).

Please refer to Determining beneficial ownership.

You can open a CMA under Power of Attorney (POA) within our online CMA application. When opening an account under POA, we’ll generally require further supporting documentation:

• A certified copy of the POA documentation
• A certified copy of government-issued ID displaying the POA’s name, date of birth, residential address and signature  

For certification requirements see Verifying your identity via certified documents in Personal Help Centre.

Term Deposits can be opened under POA. Please contact us via live chat to obtain the paper form which will need to be completed for this type of application.

Depending on the account structure selected, additional supporting documentation may be required. Please note that we will be able to accept a court ordered administrator document if your client is incapacitated.