Those named in the registration will be presumed to have the authority to sign transaction requests on behalf of all the representatives. Contact your TreasuryDirect office for evidence required to establish an account. If there is more than one trustee, some names may be omitted with language that indicates their existence. Those named in the registration will be presumed to have the authority to sign transaction requests on behalf of all the trustees. Contact your TreasuryDirect office for evidence required to establish an account.
Financial institutions can qualify as either custodians or trustees.
A custodian of an account does not normally have title to the account. Under Internal Revenue Code and implementing regulations, an IRA custodial account and an IRA trustee account are comparable. The trustee or custodian must report to IRS the interest paid to the IRA account. Public Debt will report the interest paid to the trustee or custodian of this account. The registration must reflect the capacity in which the officer is authorized to hold property.