Register or close a trust account (property)

A licensee is responsible for notifying NSW Fair Trading when a trust account has been opened, or an existing account changed or closed. Learn more.

Introduction

If you're a Licensee under the Property and Stock Agents Act 2002 – such as a real estate agent, strata managing agent or stock and station agent – you must hold clients’ funds in a trust account kept at an authorised deposit-taking institution in NSW.

For detailed information on licensee responsibilities visit NSW Fair Trading Real estate trust accounts and audit requirements.

Register a trust account 

Trust account requirements

To register a trust account, it must be held in the name of either:

  • the licensee or firm
  • a corporation, using the corporation's licence number.

When establishing trust accounts you must:

  • register separate accounts with NSW Fair Trading who will issue a unique identifying number for each account
  • provide the authorised deposit-taking institution with each registered account number you receive from NSW Fair Trading, which the financial institution will use when lodging the monthly returns.

Note: When you write a cheque to draw funds from the trust account, you must include the words ‘trust account’.

What you need

  • your real estate licence number
  • details for the name of the trustee accounts which must include:
    • the words 'trust account'
    • the name of the licensee, firm or corporation as a prefix of the account name
    • (if relevant) any other necessary identifier of the trust account, for example, a Unique Identifier (UID).

How to notify NSW Fair Trading

Register a trust account

You can use the online form to create a registration number for:

  • a new trust account (one that has not yet been opened)
  • an existing trust account.

Using the online form is generally the quickest way to notify NSW Fair Trading.

Close a trust account

There are certain requirements for closing a trust account. You must notify NSW Fair Trading within 14 days of closing an account.

Note: It is not possible to notify NSW Fair Trading of a trust account closure using the online form. 

To notify NSW Fair Trading of a trust account closure:

For more information visit NSW Fair Trading Real estate trust accounts and audit requirements
 

Contact

If you have questions contact NSW Fair Trading.

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Last published: 23 September 2026