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Open a Clients' Trust Account

Opening a clients' trust account

  1. Open an account at a “bank” as defined in ORS 696.010(2).
  2. Include the words “clients’ trust account,” "client trust account" “clients’ trust account - security deposits” or "client trust account SD" in the name of the account with the bank.
  3. Establish yourself as an authorized signer on the account. Note: Property owners cannot be signers on trust accounts.
  4. Prepare and have a bank representative sign the Notice of Clients’ Trust Account and Authorization to Examine form (PDF) for each account.
  5. Make sure checks are:
    • Pre-printed with the words “clients’ trust account,” "client trust acct," “clients’ trust account - security deposits,” or "client trust account SD."
    • Pre-numbered or, if computer generated, numbered consecutively.
  6. Do not link a debit card to a clients’ trust account or security deposit account.
  7. Add the clients' trust account to the Registered Business Name (RBN) account in eLicense within 10 business days from the date the trust account is opened.