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e-CFR data is current as of August 13, 2020

Title 12Chapter VIISubchapter APart 745Subpart A → §745.9-1

Title 12: Banks and Banking
Subpart A—Clarification and Definition of Account Insurance Coverage

§745.9-1   Trust accounts.

(a) For purposes of this section, “trust” refers to an irrevocable trust.

(b) All trust interests (as defined in §745.2(d)(4)), for the same beneficiary, deposited in an account and established pursuant to valid trust agreements created by the same settlor (grantor) shall be added together and insured up to the SMSIA in the aggregate, separately from other accounts of the trustee of such trust funds or the settlor or beneficiary of such trust arrangements.

(c) This section applies to trust interests created in Coverdell Education Savings Accounts, formerly Education IRAs, established in connection with section 530 of the Internal Revenue Code (26 U.S.C. 530).

[51 FR 37560, Oct. 23, 1986, as amended at 65 FR 34924, June 1, 2000; 68 FR 75114, Dec. 30, 2003; 71 FR 14636, Mar. 23, 2006]

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