Companies Checklist



Checklist for client identification and verification of a

Trust

(A Trust created in the Republic of South Africa, with the authorisation of the Master of the High Court in terms of section 7 of the Trust Property Control Act, 1988, (Act No 57 of 1988);or a similar Trust created outside the Republic of South Africa)


Information Required Verification Procedure

Registered name Registration number

Trust deed or other docu­ment in terms of which the trust is created and:
- in the case of a trust created in South Africa, the authorisation given by the Master of the High Court in terms of section 7 of the Trust Property Control Act, 1988 to each trustee of the trust to act in that capacity; or
- in the case of a trust created outside South Africa, an official document which reflects these particulars, issued by an authority in the country where the trust is created which administers or oversees laws relating to trusts in that country.

Address of the Master of the High Court where trust is registered, if applicable

Authorisation given by the Master of the High Court in terms of section 7 of the Trust Property Control Act, 1988 to each trustee of the trust to act in that capacity

Physical Address of Trust

Primary procedure
One of the following (less than three months old)

  • A utility bill reflecting the trade name and address from where the trust operates;
  • Municipal rates invoice reflecting the trade name and address from where the trust operates;
  • Telkom account reflecting the trade name and address from where the trust operates;
  • Cell phone account reflecting the trade name and address from where the trust operates.
  • Mortgage statement reflecting the trade name and address from where the trust operates; (6 months)
  • A lease or rental agreement reflecting the trade name and ad­dress from where the trust operates; (1year)
  • SARS tax return reflecting the trade name and address from where the Trust operates (less than 1 year).

SA income tax registration number (not required at present)

Primary procedure Document bearing number and name issued by SARS.

Full names
Date of birth
Identity number (if SA citizen ) or
nationality (if foreigner) of

  • each trustee
  • each natural
  • person who is authorised to establish the relationship
  • Each beneficiary referred to by name in the trust deed or other founding instrument
  • Founder

Primary procedure
Green bar-coded identity document

Secondary procedure
If identity document not available, for valid reasons, alternatives are:

  • Drivers licence
  • Passport

In the event that the founder has died or no longer exists:

  • Death certificate in the instance of such natural person; or
  • Certificate of deregistration in the instance of a legal person or trust; or
  • Document terminating the partnership agreement; or
  • Document evidencing withdrawal of partner.

Address of

  • Each trustee
  • Beneficiaries’ referred to by name in the trust deed or other founding instrument
  • Founder
Primary procedure
One of the following (less than three months old)
  • A utility bill reflecting the name and residential address of the person
  • Municipal rates invoice reflecting name and residential address
  • Telkom account reflecting the name and residential address of the person
  • Cell phone account reflecting the name and residential address of the person
  • A payslip or salary advice with name and residential address.
  • Lease or rental agreement reflecting the name and residential address (< 1year)
  • Correspondence from a body corporate or share-block associa­tion reflecting the name and residential address of the person

(< 1year)

  • Television licence reflecting the name and residen­tial address

(< 1year)

  • Motor vehicle licence documentation with name and residential address (< 1year)
  • Short-term insurance documentation with name and residential address (< 1year)
  • A SARS tax return reflecting the name and address of the person (< 1 year)
Secondary procedure
  • A declaration from another person sharing/owning/leasing the residential address containing:
    • The name and residential address of client being verified;
    • Name, date of birth, identity number and residential address of the person supplying the statement; and
    • The relationship between the persons who share the address.
    • Utility bill
  • Electronic enquiry

If the trust is owned or controlled by another legal entity then obtain
Registered name
Registered number
Registered address

Verify in accordance with the procedures applicable for the different legal entities

Persons authorised to open and/or maintain the banking relationship in terms of a resolution, power of attorney or any other legitimate authority

Full names
Date of birth
Identity number(SA citizen or nationality and passport (if foreigner)

Primary procedure
Green bar-coded identity document

Secondary procedure
If identity document not available, for valid reasons, alternatives are:

  • Drivers licence
  • Passport

Authorisation of person acting on behalf of the partnership, to establish the relationship

One of the following documents may be utilised as written instruction to confirm authority to establish the relationship:

  • Power of Attorney; or
  • Mandate; or
  • Resolution duly executed by authorised signatories; or
  • A court order authorising the third party to conduct business on behalf of another person.

All opening account forms should preferably be signed by all Trustees


Page last updated: 2019-08-14