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Compliance: Trust Health Check
Trust Compliance Health Check
Trust details
Trust name
Master's reference (IT no.)
Letters of authority no.
Income tax number
Date of this assessment
Completed by (name)
Compliance: Trust Health Check
Trust Compliance HealthCheck
A risk-rated self-assessment of your trust's compliance health, with the exact remedial action required wherever something isn't compliant yet. Work through it honestly: this is a diagnostic, not a test.
Critical NC 0High NC 0Medium NC 0Low NC 00 of 35 answered
A1
A validly executed trust deed has been lodged with the Master; a certified copy is on file.
Authority: TPCA s4; common law
A2
Current letters of authority are held and name every acting trustee correctly.
Authority: TPCA s6(1)
A3
Every trustee change (appointment, resignation, death, removal) has been reported to the Master and amended letters obtained.
Authority: TPCA s6, s7
A4
The trust has the minimum number of trustees required by the deed and has not fallen below its quorum.
Authority: Trust deed; common law
A5
At least one independent trustee (not a founder or beneficiary) is in office and genuinely participates.
Authority: Common law: Land & Agricultural Bank v Parker
A6
No trustee is disqualified; any trustee appointed or resident outside South Africa is authorised by the Master.
Authority: TPCA (as amended by GLAA 2022), s6
A7
Security has been furnished to the Master, or a valid exemption appears in the deed.
Authority: TPCA s6(2)
B1
Trustees act jointly and unanimously (unless the deed lawfully provides otherwise), recorded in dated, written resolutions.
Authority: Common law; trust deed; TPCA s9
B2
Distributions are resolved and minuted before or at the time they are made: and before financial year-end.
Authority: Trust deed; ITA s25B; common law
B3
Each trustee exercises their own discretion; there is no improper delegation or rubber-stamping of the founder's wishes.
Authority: Common law (Parker; fiduciary duty)
B4
The trust is operated within the powers in the deed, and any amendments to the deed were validly effected.
Authority: Trust deed; common law
C1
A separate bank account exists in the trust's name and all trust money passes through it.
Authority: TPCA s10
C2
All trust assets are registered or held in the trust's name and clearly identified as trust property.
Authority: TPCA s11
C3
Trustees do not use trust assets as their own; personal and trust affairs are kept distinct.
Authority: Common law (Parker); TPCA ss10-12
D1
A beneficial-ownership register is established and accurate: founder, all trustees, named beneficiaries, and anyone exercising effective control.
Authority: TPCA s11A
D2
The beneficial-ownership register is lodged with the Master via the ICMS portal and updated on any change.
Authority: TPCA s11A; Master's directives
D3
A certified copy of each beneficial owner's official ID or passport is on file.
Authority: TPCA Regulations (GLAA 2022)
D4
A record of the accountable institutions the trust uses is maintained with the prescribed details.
Authority: TPCA s11(1)(e)
D5
The trustee discloses the trust capacity to accountable institutions when transacting.
Authority: TPCA (as amended by GLAA 2022)
E1
Proper accounting records and annual financial statements are prepared and retained.
Authority: TPCA s16; good practice
E2
A complete minute book and set of trustee resolutions is maintained.
Authority: Common law; good governance
E3
Trustees are able and willing to account to beneficiaries on request.
Authority: Common law: Doyle v Board of Executors
E4
The full trust file is complete and can be produced to the Master on request.
Authority: TPCA s16
F1
The trust is registered for income tax and holds an income tax number.
Authority: Tax Administration Act; ITA
F2
The annual trust return (ITR12T) is filed and up to date.
Authority: ITA; TAA
F3
Third-party trust reporting (IT3(t)) is submitted, reflecting amounts vested in or distributed to beneficiaries.
Authority: SARS third-party reporting
F4
Distributions are documented so that conduit treatment under s25B holds, with income vested before year-end.
Authority: ITA s25B
F5
Attribution under s7 is correctly applied where the founder donated or settled income-producing assets.
Authority: ITA s7
F6
Donations tax on funding has been accounted for (IT144) where assets were donated to the trust.
Authority: ITA ss54-64
G1
Every loan to the trust is supported by a written, signed loan agreement with clear terms.
Authority: ITA s7C; SARS audit focus
G2
Interest is charged at or above the official rate, or the s7C deemed donation is calculated and accounted for annually.
Authority: ITA s7C
G3
Loan-account balances are reconciled and reflected consistently in the trust's and the lender's records.
Authority: ITA; good practice
H1
An annual compliance review is conducted (this health check is re-run each year).
Authority: Good governance
H2
The deed is reviewed for outdated or missing provisions (e.g. no beneficial-ownership or independent-trustee clauses, or restrictive amendment terms).
Authority: Trust deed; current law
H3
Life events (trustee or beneficiary changes, address changes, asset acquisitions or disposals) are reported and records updated promptly.
Authority: TPCA; good practice
This health check is a compliance tool providing general guidance on South African trust law and practice. It is not legal or tax advice and does not create a professional relationship. Statutory section references and current tax figures should be confirmed against the legislation and the latest SARS guidance before the tool is relied on. Reserved legal work identified through this check is referred to attorneys that can assist.
Compliance: Trust Health Check
Get the trust compliant, and keep it that way
Whether you're establishing a trust, catching up on beneficial-ownership filings, or remediating what this check found, lawvero prepares the documents and refers reserved work where needed.
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