How to Onboard a Trust

Summary

This guide explains how to initiate the onboarding process for a trust, including setting up the order, adding parties, and configuring due diligence requirements.

When to Use This

Use this process when you need to formally onboard a new trust client and send out requests for compliance checks to adhere to the AML/CTF obligations.

Step-by-Step Instructions

1. Navigate to the Client Onboarding and VOI dashboard.

2. Click on "Start new order" in the top right corner.

3. Select "Trust" from the entity type options.

4. Enter the matter reference, ABN/ACN, and the Trust Name.

5. Add the relevant parties to the trust (such as Representatives, UBOs, Controllers, or Senior Staff) by entering their details.

   

6. Click "Continue" to view the Trust Card dashboard.

7. Review the required due diligence checks, such as the KYB onboarding form, PEPs, Sanctions, Adverse Media checks, and organization extracts.

8. Customize verification requirements for each representative, such as the method of delivery (remote or in person).

9. Click "Continue" and select a primary representative to complete the KYB form on behalf of the trust.

10. Confirm the details and send the request.

Common Questions

What is a primary representative? The primary representative is the individual selected to complete the Onboarding Form on behalf of the trust, preventing duplicate efforts from multiple parties.

What is a PEPs, Sanctions, and Adverse Media check? This check determines if any party associated with the trust is a Politically Exposed Person, is on a sanctions watchlist, or has negative mentions in the media.

Troubleshooting Tips

• If the matter reference does not populate: Ensure your practice management system is properly integrated and syncing.
• If you cannot send the request: Verify that all required fields for the trust and the added parties are completely filled out.