Name of Trust: Account Number:
Trust Account Declaration Form 1
GUIDELINES The Internal Revenue Service (IRS) requires formal trust(s) to be classified and documented as either
(i) a Grantor Trust; (ii) a Simple Trust; or (iii) a Complex Trust. These definitions do not have exact
equivalents under Canadian law; however, since all BMO InvestorLine accounts have access to U.S.
markets, all formal trust accounts are required to complete this form.
It is necessary to review the terms of the Trust Agreement or obtain information from the trustee to in
order to identify the type of trust.
Informal or "In Trust For" accounts are not considered trusts for U.S. documentation purposes and the
contributor of the account(s) must be documented as an individual.
The following guidelines are offered to assist you in filling out this form. They are not a replacement for
professional legal advice. BMO InvestorLine encourages you to obtain professional legal advice to assist
you with any questions or ambiguities.
Grantor Trusts occur when the settlor (contributor) is also one of the beneficiaries.
A Grantor Trust may be established to facilitate income splitting, estate planning or to manage the affairs
of someone who is ill or traveling out of the country. The beneficiary(ies) is the beneficial owner(s) of the
Simple Trusts contain a clause requiring that the all of the annual income of the trust must be paid out in
the same year to the beneficiary(ies).
Simple Trusts are typically set-up by a parent or other to provide regular income to the beneficiary(ies).
The beneficiary(ies) is considered to be the beneficial owner(s) of the assets.
Complex Trusts, like Simple Trusts, are generally organized to administer the assets and/or income of