Trusts checklist | Documents required - NAB

What is a trust?

A trust is a legal arrangement whereby a person (a trustee) holds property or assets on behalf of another person (a beneficiary). 

Why do we need this information?

It’s important to be prepared if you’re planning to run your business as a trust. Our checklist contains all the information we require to establish you as a customer and complete your business application. Further information may be collected from you to support the establishment process, if required.

All clients applying for a new business account as a trust must complete the identification procedures for the purposes of Anti-Money Laundering and Counter Terrorism Financing laws. 

Please note that each signatory operating on the account as well as all Beneficial Owners will need to provide identification documents as per the individual checklist unless they are existing NAB customers. As part of our ongoing due diligence, individuals who are existing NAB customers since 12 December 2007 may be asked to provide ID documents again.

Information required

  • Full name of the trust (if any)

  • Full business name (if any) of the trustee in respect of the trust (which includes any trading names)

  • Full business name as registered with ASIC, if applicable

  • Type of trust

  • Government issued identification number, if any

  • ABN or ARSN (Australian Registered Scheme Number), if any

  • Country in which the trust was established

  • Date the trust was established

  • The nature and purpose of your intended banking relationship with NAB

  • Your wealth – the activities that have contributed to your wealth to date and which countries did it originate from

  • Nature of business or industry – all activities of the business

  • Full name, residential address, date of birth, and foreign tax status (if any), of all trustees (individual)

  • If any individuals are a citizen or resident of any foreign country for tax purposes, provide Tax Identification Number (TIN)

  • Principal place of business address and mailing address if different to your principal place of business address

  • The full name of each beneficiary in respect of the trust, or if the terms of the trust identify the beneficiaries by reference to a membership of a class then provide details of the class

  • Foreign Account Tax Compliance Act (FATCA) / Common Reporting Standard (CRS) information of the trust

  • Any signatories

  • The full name of the settlor of the trust

  • Any joint account holders

  • Any agent or verifying officer (VO) of the customer

Why this checklist matters

Opening an account on behalf of your trust means we need to understand your trust’s structure, how it operates and who’s involved. This helps us meet Australian regulatory and Anti‑Money Laundering (AML) requirements while keeping your account secure.

By completing this checklist, you can help us quickly verify your trust and confirm we have all the right information and documents upfront. This can help reduce unexpected delays and make the application process smoother for you.

Providing accurate details about your trust – including trustees, beneficiaries and business activities – allows us to assess your application correctly and offer the right banking solutions for your needs.

This process also helps protect you and the wider financial system from risks like fraud and financial crime, so you can bank with confidence from the start.

If the trustee is a company

If the trustee is a company, also refer to the Australian company checklist.

Documents required

  • Full copy of the Trust Deed including any Amending Deeds

  • Where the trust is created by a Trust Deed, the original, or a copy or extract of the Trust Deed; or

  • Where the trust is created by an instrument (other than a Trust Deed), the original, or a certified copy or certified extract, of the instrument creating the trust; or

  • Where the trust is created by statute, a copy of the relevant current legislation as obtained from the official government source

Next steps

  • Organise all required individuals to provide identification documents at a NAB branch or their banker. Where we have your consent, we may be able to verify your identity electronically.

  • Arrange a time to complete the onboarding process with your banker.

  • Provide or email information and relevant documents to your banker.

Download trust checklist (PDF, 116KB)

Get in touch

Request a call back

Let us help with your business banking needs. Request a call back to chat with one of our business bankers.

Call me back

Contact us

Explore our business banking contact information and get support with a wide range of products, services and topics. 

View all business banking contacts

Visit a NAB branch

Our business bankers are located all around Australia.

Find a NAB business banking centre

Terms and Conditions