Trust Registration

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Steps to Register your Trust online

Fill the form and provide documents

Just fill your contact details and share required documents for trust registration.

Sign and share the documents

Our team will share required document for signatures, just sign and share scanned copies.

Filing of registration application

Registration application is filed with concerned certification authority and we will keep you updated on its status.

Overview

Trust registration is a legal process that allows individuals or organizations to establish and formalize charitable trusts for philanthropic purposes. A trust is a legally binding agreement where the settlor (the person who creates the trust) transfers assets or property to trustees who manage and utilize these assets for the benefit of beneficiaries or a specific cause.

Documents Required

Trust Deed
Identity & Address Proofs of trustees’, settlor’s, and witnesses’
Passport-sized Photographs of trustees and the settlor
Proof of Trust Registered Address
NOC from the property owner, if the trust office is rented
Affidavit or Declaration from the trustee affirming willingness and accuracy of provided information
Authority Letter, if trustees are appointed through a power of attorney
Evidence of assets or funds contributed by the settlor
Minutes of Trust Meeting
Any other documents specified by the registering authority

Registration Process

Define Objectives: Determine the charitable, social, or philanthropic objectives of the trust.
Choose Trustees: Select trustees who will manage the trust and ensure its objectives are met.
Prepare Trust Deed: Draft a Trust Deed outlining the trust’s objectives, trustees, beneficiaries, and rules.
Identify Beneficiaries: Specify the individuals or groups who will benefit from the trust’s activities.
Gather Required Documents: Collect identity proofs, address proofs, and photographs of trustees and settlors.
Visit Sub-Registrar’s Office: Check trust name availability and visit the sub-registrar’s office.
Submit Application: Submit the application for trust registration and pay the required fee.
Verification and Registration: The sub-registrar verifies the documents and registers the trust, issuing a unique registration number.
Apply for PAN and Bank Account: Obtain a Permanent Account Number (PAN) and open a bank account for the trust.
Maintain Transparency: Communicate with donors, beneficiaries, and stakeholders about the trust’s activities.
Update Changes: Promptly update authorities about any changes to the trust deed or trustees.

Benefits of registration

Legal Recognition: Trust registration establishes the trust as a separate legal entity, enabling it to conduct transactions, own assets, and enter contracts in its own name.
Tax Exemptions: Registered trusts may qualify for tax benefits and exemptions, encouraging donations and support from donors through tax deductions.
Credibility and Transparency: Registration enhances trust credibility and transparency, instilling confidence in donors and beneficiaries regarding compliance with legal requirements and proper governance.
Perpetual Existence: A registered trust enjoys perpetual existence, ensuring continuity in pursuing charitable objectives beyond the lifespan of its founders or trustees.
Flexibility in Operations: Trusts have more operational flexibility compared to other entities, allowing them autonomy in fund utilization and charitable initiatives alignment with trust deed objectives.
Ease of Asset Transfer: Trusts facilitate seamless asset transfer for charitable purposes, enabling the settlor to contribute assets managed by trustees for beneficiaries’ benefit.
Focus on Social Impact: Trusts prioritize social impact and philanthropy without profit motives, dedicating resources solely to achieving charitable goals.
Limited Liability: Trustees generally benefit from limited liability, shielding them from personal liability for trust obligations or debts.
Public Recognition: Registered trusts are esteemed and recognized by the public, government, and other charitable organizations, fostering collaboration opportunities.
Brand Establishment: Trusts build a distinct brand identity associated with their charitable mission, aiding in fundraising and outreach efforts.
Trustee Protection: Registration provides legal protection to trustees, offering a clear framework for their actions and decisions in trust management.
Positive Social Impact: Ultimately, trust registration enables significant and lasting societal impact by supporting charitable causes and aiding those in need.

Trust Compliances

Maintenance of Trust Records: Trustees must keep accurate records, including the Trust Deed, meeting minutes, financial statements, and important documents related to the trust’s activities.
Annual Filing: Many jurisdictions mandate trusts to file annual returns or reports with government authorities, detailing activities, income, expenses, and financial position.
Income Tax Filings: Trusts eligible for tax benefits must file annual income tax returns and fulfill tax-related obligations per applicable laws.
Financial Audits: Some trusts require financial audits by qualified auditors to ensure financial reporting accuracy and transparency.
Trustee Meetings: Regular trustee meetings should be held to discuss trust activities, investments, and fund distributions.
Bank Account Maintenance: Trusts must maintain separate bank accounts for all financial transactions.
Investment Compliance: Trustees manage trust assets prudently and in line with investment guidelines outlined in the Trust Deed or laws.
Beneficiary Alignment: Trust activities must align with beneficiaries’ needs and trust objectives.
Conflict of Interest Avoidance: Trustees should act in the trust’s and beneficiaries’ best interests, avoiding conflicts of interest.
Beneficiary Reporting: Periodic reports should be provided to beneficiaries, keeping them informed about trust activities and finances.
Legal Updates: Trustees must stay informed about legal and regulatory changes affecting trust operations and comply accordingly.
Registration Renewal: Trustees must ensure timely renewal of trust registration, where applicable.

Why BizReg?

BizReg simplifies Trust Registration online, providing a seamless process from home. With us, registration can be completed in just 5-10 working days, offering comprehensive assistance throughout. Services include verification, document filing, and certificate procurement. Transform your Charitable Endeavors into a Registered Trust with our Expert Guidance.