I have clients who are corporate trustees and partnerships that act in the capacity as trustees on family trusts, such as absolute and discretionary trusts. Must they register for a GIIN?

As professional trustees, they are regarded as a Financial Institution and in accordance with the Regulations the trust is a ‘Trustee Documented Trust’. The trustees register for a GIIN and carry out their own reporting. However, they still need to complete the Tax Declaration and send this to us for us to note this on our records.