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Trust Companies
Trust Companies
Trust Companies

Pursuant to Arizona Administrative Code R20-4-104, the Superintendent has the discretion to accept alternative application forms, but it does not limit the Superintendent's power to require additional information necessary to complete an application.

Please refer to Arizona Revised Statutes §6-851 through 6-870.2 and Arizona Administrative Code R20-4-801 through 816 for Arizona Law.

Inquiries should be directed to Financial Institutions at [email protected]. For more information, see the “Contact Us” tab.

Forms and Fees

Arizona Revised Statutes §6-126 et seq.

Description Fees Forms
To apply for a trust company certificate. $1,000.00

Portal Instructions/Registration

DFI Instructions/Requirements

DFI Trust Application
 

Corporate Financial Statement

Personal Financial Statement

Personal History Statement

License Surrender

Affidavit

Background Check

Uniform Application for Interstate Trust Activities of State-Chartered Trust institutions $1,000.00

Portal Instructions/Registration

DFI Trust Application
 

Application

Biographical Statement

Background Check

To acquire control of a financial institution, other than a consumer lender, five thousand dollars $5,000.00

Portal Service Request Instructions

DFI Service Request
 

Acquire Control Application

License Change Instructions

License Change Application

To apply for a branch office of an Arizona trust company five hundred dollars. $500.00

Portal Service Request Instructions

DFI Service Request
 

Branch Application

To apply for approval of the articles of incorporation of a business development corporation, five hundred dollars. $500.00

Portal Service Request Instructions

DFI Service Request

To apply for approval for the merger or consolidation of two or more financial institutions, five thousand dollars per institution. $5,000.00

Portal Service Request Instructions

DFI Service Request

To change the licensee name on a financial institution or enterprise license, two hundred fifty dollars. $250.00

Portal Service Request Instructions

DFI Service Request
 

License Change Instructions

License Change Application

Background Check

$64.95

Background Check

Certificate Renewal:

Renewal fee $1,000, each branch (Arizona locations only) $250.

License Year: January 1, through December 31.

Renewal Package Due: January 1 through January 15: Without Penalty

January 16 and after: With Penalty.

You may now use your credit/debit card to pay your renewal fee at AZDFI.  If you mail your renewal, you may pay by telephone using your credit/debit card after the renewal has been received.   Please call 602-771-2800 Option #2 and let them know that you are paying your renewal fee by credit card for your trust certificate which is maintained in the Financial Institutions Division.

$1,000 H.O $250 For each branch

Portal Instructions/Registration

DFI Renewal Instructions/Requirements

DFI Trust Renewal Application
 

Annual Report Of Trust Asseses and Liabilities

Affidavit

Change of Officer  $0.00

Portal Service Request Instructions

DFI Service Request
 

License Change Instructions

License Change Application

Branch Manager Change $0.00

Portal Service Request Instructions

DFI Service Request
 

License Change Instructions

License Change Application

Address Change $0.00

Portal Service Request Instructions

DFI Service Request
 

License Change Instructions

License Change Application

Annual Report of Trust Assets and Liabilities     

Annual Report Of Trust Asseses and Liabilities

Annual Reports

A.R.S. §6-861. Reports

A. The superintendent may require reports of financial condition and relevant information concerning the business operations of each trust company, shall fix and extend the time for the filing of such reports and shall assess a penalty of fifty dollars for each day the trust company is delinquent

A.A.C. R20-4-805. Reports
A. Within 90 days following each December 31, each trust department and trust company shall file an annual report of trust assets with the Superintendent on the form prescribed by the Superintendent. The annual report shall include the current market value of all trust assets held by the trust department or trust company as of December 31. The report shall also identify and briefly describe all transactions conducted in the report period that are regulated by R20-4-812(E) through R20-4-812(G).
B. Each trust company shall deliver a copy of its annual report and certificate of disclosure to the Superintendent within 10 days of filing the report and certificate at the Arizona Corporation Commission. A report or certificate covered by this subsection is one filed under the authority of A.R.S. §§ 10-202 or 10-1622. A copy delivered to the Superintendent, as required in this subsection, shall be date-stamped by the Arizona Corporation Commission to confirm the actual filing date.
C. Each trust company shall notify the Superintendent of any change in the directors or officers of the company within 10 days of the change. Any trust company with more than 25 officers may, after obtaining the Superintendent's written approval, limit the officers covered by this subsection to those with substantial involvement in the trust company's corporate operations or in the trust company's trust business in this state.

Laws, Rules, Substantive Policy Statement And Regulatory Alerts

 

Arizona Revised Statutes Title 6

Chapter 8   TRUST COMPANIES

Article 1 General Provisions
6-851 Definitions
6-852 Exemptions and permitted activities
6-853 Certificate required; exceptions
6-854 Application for certificate
6-854.01 Articles of incorporation; approval; changes
6-854.02 Board of directors; number; bylaws
6-855 Fees
6-856 Minimum capital; dividends; other requirements
6-857 Issuance of certificate; hearing
6-859 Records; audits; preservation of records; protection; insurance; bond; contingency plan
6-860

Duty of trustee, escrow officer or agent to produce trust or escrow records for inspection; violation; classification

6-861 Reports
6-862 Trust funds
6-863 Suspension or revocation of certificate
6-864 Continuing jurisdiction
6-865 Unsafe condition; receivership
6-866 Limit of legal action
6-867 Trust company name
6-868 Fidelity bond; requirements
6-869 Meetings; reports; report of examination; response; penalties
6-870 Trust committee
6-870.01 Acceptance of other examinations; cooperative agreements
6-870.02 Prohibited acts

Article 2 Uniform Common Trust Fund Act
6-871 Establishment of common trust funds
6-872 Court accountings
6-873 Uniformity of interpretation
6-874 Short title

Article 3 Authorization to Accept Savings Accounts and Time Deposits
6-881 Definitions
6-882 Savings accounts and time deposits; insurance; withdrawal; notice

Arizona Administrative Code Title 20

ARTICLE 1. GENERAL
Section  
R20-4-101. Scope of Article
R20-4-102. Definitions
R20-4-103. Fingerprints

ARTICLE 8 TRUST COMPANIES
R20-4-104 Acceptance of Other Forms
R20-4-105 Claims Against a Deposit in Place of Bond
R20-4-106 Bankruptcy
R20-4-107 Licensing Time-frames

 

Table A Licensing Time-frames
Section  
R20-4-801 Definitions
R20-4-802 Reserved
R20-4-803 Reserved
R20-4-804 Repealed
R20-4-805 Reports
R20-4-806 Records
R20-4-807 Unsafe or Unsound Condition
R20-4-808 Administration of Fiduciary Powers
R20-4-809 Fiduciary Duties
R20-4-810 Funds Awaiting Investment or Distribution
R20-4-811 Investment of Trust Funds
R20-4-812 Self-dealing
R20-4-813 Custody of Investments
R20-4-814 Compensation
R20-4-815 Collective Investments
R20-4-816 Termination of Trust or Fiduciary Powers and Duties
App A. Repealed
App B. Repealed

Substantive Policy Statements

ARTICLE 7. TRUST COMPANIES
Repealed - LIQUID CAPITAL REQUIREMENT TC-1
Repealed
AUDIT REQUIREMENTS TC-2

Regulatory Alerts -

Regulatory Bulletin TC-05-01 

Certificate Renewal

Before January 15 of each year, each licensee may obtain a renewal of a certificate by filing an application in the form prescribed by the Superintendent and paying the fee prescribed in A.R.S. §6-126.

License Year:  January 1 through December 31.
Renewal Package Due: January 1 through January 15: Without Penalty

Certificate Requirements

You must submit to AZDFI, Financial Institutions Division, a completed application package along with the applicable application fee.

Examinations

It is the policy of AZDFI to select the most effective and efficient methods of conducting examinations so that significant risks affecting safety and soundness, as well as substantive statutory compliance, can be identified and, if necessary, appropriate supervisory action taken. Judgment must be utilized to ensure that necessary procedures are performed and ineffective activities are avoided.
The examination fee in accordance with A.R.S. 6-125 is not more than sixty-five dollars per hour for each examiner. The assessment late penalty is fifty dollars for each day after the thirty day period the enterprise fails to remit the assessment not to exceed the examination assessment amount.

Pursuant to A.R.S. §6-122(B)(1) examination frequency is at least once in every year and more frequently if the superintendent considers it necessary.

Encrypted Email

AZDFI has adopted a new internet-based encryption e-mail system called Virtru. Virtru will keep your submissions confidential.  Click HERE for more information.

Trust Companies