ACL: Complying with Trust Account Obligations

This video looks at:

• When a credit licensee is required to maintain a trust account
• What money must and must not be paid into a trust account
• The rules for opening and operating a compliant trust account
• Auditor appointment requirements and eligibility criteria
• Annual reporting obligations, including Forms CL70 and CL71
• Lodgement timeframes and extension options
• Consequences of failing to meet trust account obligations