Instructions to Complete

Trust Fund Agreement

Form PSD 2200

A Trust Fund Agreement may be used to meet the bonding requirements of the Packers and Stockyards Act, 

1921 (Act) , as amended and supplemented. The principal may pledge one or more savings accounts or 

certificates of deposit to fulfill the requirement to obtain and file a trust fund agreement under the Act. The 

security(ies) MUST be pledged in the name of the principal and the trustee for the sole purpose of securing 

the principal’s livestock operations. Example: Principal Name and Trade Name (if applicable) AND Trustee 

Name.

A trust fund agreement requires complete and correct information to be submitted to the Packers and 

Stockyards Division (PSD) on Form PSD 2200. If any information is missing or incorrect, the PSD will 

return the trust fund agreement form to the principal or financial institution for completion or correction. 

Operating without proper registration and bond may subject the principal to severe civil penalties as 

authorized by law for each violation, and additional penalties for each day the violation continues 

(7 U.S.C § 203). 

After completing the trust fund agreement, the trustee must retain the original along with the original 

security(s) pledged to the agreement, and send a fully executed copy of the trust fund agreement with 

original signatures and security(s) to the PSD regional office as listed below.

Regional Offices of the Packers and Stockyards Division 

Agricultural Marketing Service, Fair Trade Practices Program

Eastern Regional Office

75 Ted Turner Drive SW, Ste 230 

Atlanta, GA 30303-3308 

Telephone: (404) 562-5840 

FAX: (404) 562-5848 

E-mail:

PSDAtlantaGA@ams.usda.gov

States Covered

AL, AR, CT, DC, DE, FL, GA, 

LA, MA, MD, ME, MS, NC, 

NH, NJ, NL, NY, PA, PR, QC, 

RI, SC, TN, VA, VT, WV

Midwestern Regional Office

210 Walnut Street, Room 317 

Des Moines, IA 50309-2110 

Telephone: (515) 323-2579 

FAX: (515) 323-2590 

E-mail:

PSDDesMoinesIA@ams.usda.go

States Covered

IA, IL, IN, KY, MB, MI, MN, 

MO, ND, NE, OH, ON, SD, WI

Western Regional Office

3950 Lewiston St., Suite 200 

Aurora, CO 80011-1556 

Telephone: (303) 375-4240 

FAX: (303) 371-4609 

E-mail:

v PSDDenverCO@ams.usda.gov

States Covered

AB, AK, AZ, BC, CA, CO, HI, 

ID, KS, MT, NM, NV, OK, OR, 

SK, TX, UT, WA, WY

If you have any questions about the form or completing the form, please contact the PSD Regional Office 

that covers your area, as listed above.

The Packers and Stockyards Division regional office will assign the trust fund agreement number. 

The bank issuing the security pledged as collateral to this trust fund agreement may complete lines 1 through 

7, sign line 9a, and complete 11a and 11b, if applicable. This is not a requirement, and in some instances, the 

Principal will complete these lines. 

The Principal must complete lines 10a and 10b. 

The trustee, if different than the issuing bank, must complete lines 9a and 9b. 

Form PSD 2200 Expires 01/31/2025 Page 1 of 4
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No.

Subject Instruction

1 Principal Name, 

Address, Phone 

and Email 

Enter the full name, address, (street, city, state, and zip+4), phone number 

and email of the principal. The principal's name must match the name 

under which the principal is registered with the PSD. Contact the 

Regional office that covers your area as listed above, if you need this 

information

2 Trustee Name, 

Address, Phone 

and Email 

Enter the full name, address, (street, city, state, and zip+4) phone number, 

and email of the trustee. A trustee must always be named for the trust 

fund agreement, and must be a financially responsible, disinterested 

person. Trustee’s that may be named, are CPAs, bank or trust company 

officials, attorneys-at-law, officers of livestock exchanges or similar 

organizations, banks and trust companies, or their officers, or a State 

agency or official. If the bank issuing the collateral will not act as the 

trustee, the principal is responsible for finding a financially disinterested 

third party to act as trustee. The trustee cannot be anyone directly 

involved with the business of the principal. 

Some States require a State agency or official to be named as trustee. 

Please contact the Regional Office covering your area for this 

information.

3 Bank/Depository 

Name, Address, 

Phone and Email

 Enter the full name, address, (street, city, state, and zip+4), phone 

number and email of the bank or other institution where the principal has 

deposited the funds pledged to the trust fund agreement.

4 

a and b 

Security/Securities 

Account or 

Identification 

Number(s) and 

FDIC/NCUA ID 

Number

a. Enter the account number(s) or the certificate(s) of deposit

identification number(s).

NOTE: A copy of the security or securities must be attached with this 

document. 

b. Enter the FDIC/NCUA ID number of the financial institution

providing the account or certificate of deposit.

5 Interest of 

Dividends to be 

Paid to

Enter the name of the individual or entity to receive interest or dividends 

earned. The principal may name anyone; however, this line MUST be 

completed. 

6 

a and b 

Amount of Trust 

Fund Agreement 

Spell out the full dollar amount of the trust fund agreement. For example, 

if the full dollar amount of the trust fund agreement is $10,000, list the 

amount as follows: 

a. Ten Thousand Dollars and No/100 b. $10,000.00

Form PSD 2200 Expires 01/31/2025 Page 2 of 4
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No.

Subject Instruction

7 Condition Clauses Line 7 defines the conditions applicable for livestock operations. 

The firm shall check the appropriate box to indicate the correct condition 

clause as applies to its operation.

Examples of each of the condition clauses are:

Condition Clause 1 - The principal sells livestock for the account of 

others. (Registered as Selling Livestock on Commission)

Condition Clause 2 - The principal buys livestock for his/her own 

account or for the accounts of others. (Registered as Buying Livestock on 

Commission or as a Dealer)

Condition Clause 3 - The principal is providing bond coverage for other 

registrant(s), as clearee(s), and therefore is responsible for the obligations 

of the clearee(s). (Registered as Clearing Services) The registrant(s) 

name(s) to be listed as clearees under this surety bond should be inserted 

into the space available in condition clause 3. 

Condition Clause 4 - The principal is purchasing livestock for purposes 

of slaughter, for his/her own account as a packer. 

Each type of operation (defined through the condition clause) 

requires a separate trust fund agreement. The only instance a trust 

fund agreement will be accepted with multiple condition clauses 

selected are when the firm operates as both a dealer/order buyer and 

clearing agent, thereby providing a Clause 2/3 trust fund agreement.

8 Effective Date Enter the effective date of the Trust Fund Agreement.

9 

 and b 

Trustee Name and 

Signature 

Trustee’s Signature: The trustee or someone authorized to sign for the 

trustee must print and sign, where indicated. If the trustee is a state 

official, The Packers and Stockyards Division will obtain the trustee’s 

signature where indicated on the form.

10 

a and b 

Principal Name 

and Signature 

Principal’s Signature: The principal, or someone authorized to sign for 

the principal (i.e. partner, owner, or officer), must print and sign the trust 

fund agreement. 

• If an individual operation, the principal must print and sign

the trust fund agreement.

• If a partnership operation, one of the partners must print and

sign the trust fund agreement.

• If a corporation, Limited Liability Corporation, Limited

Liability Partnership, or association, an officer, member, or

duly authorized agent of the firm must print and sign the trust

fund agreement.

• Electronic signatures are considered valid.

Form PSD 2200 Expires 01/31/2025 Page 3 of 4
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No.

Subject Instruction

11 

a and b 

Depository by; 

Print Name, Title 

and then Signature

a. Name and title of the authorized officer of the bank or other

institution, signing the form as depository.

b. Signature of the officer of the bank or other institution where the

principal has deposited the funds pledged to the trust fund

agreement.

Form PSD 2200 Expires 01/31/2025 Page 4 of 4