12 CFR 745.9-1
§ 745.9-1 Trust accounts.
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 745.9-1, § 745.9-1 Trust accounts, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/48775
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Full text
(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).
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.