How do I open a Minor Trust Account?
To open a CommSec Minor Trust Account, follow the steps below:
- Start a Minor Trust Account application here.
- Follow the prompts to complete your Minor Trust Account application.
- You will be asked to select the account type you wish to open. Select Trust or Minor, then, when asked if you’d like to open a Minor Trust Account, select Yes.
- Once your application has been successfully processed, you’ll receive an email with your account details and Client ID. This account will be CHESS-sponsored with its own HIN. If there are any issues with your application, we’ll contact you.
If you already have an account with CommSec, you can also open a Minor Trust Account by logging into CommSec and following the steps below:
- Select Portfolio
- Click on Offers, Apply and then select Applications.
- At the bottom of the page, select Apply Now next to your preferred option – you can either add a new Trading account and settle your trades using a Commonwealth Direct Investment Account (CDIA), or add a new trading account and settle using your own cash account.
- You’ll now be taken to the online application page. Under “Select which account you’d like to open”, select Trust or Minor and then continue through the application.
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Learn more about how to buy shares for your children, or discover more about Minor Trust Accounts.
Important information
There may be tax implications associated with opening a Minor Trust Account. Please seek professional tax advice before making a decision.
