Opening and using trust accounts

As a trustee, there are a number of things you need to know about opening and operating project trust accounts and retention trust accounts, including:

Use our PTA checklist or RTA checklist to step through what you are required to do.

Nominating another person to administer the retention trust account

A trustee of a retention trust may nominate another person to administer the retention trust on their behalf.

As the trustee, if you will not be responsible for administering the retention trust account, you must nominate another person and notify the QBCC of the nomination online via myQBCC.

If the person responsible for administering the retention trust account changes, you must nominate a new person and notify the QBCC online via myQBCC. You can change the nominated person at any time, however each nominated person must complete the required retention trust training.