Welcome > ADMA > Your Enquiry > Billing & Your Trust Account > CDIC - Rules governing insurance protection for deposits held "in trust"
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In brief: As of April 30, 2022, changes to rules governing insurance protection for deposits held “in trust” at Canada Deposit Insurance Corporation member institutions came into effect. If you have a trust account that is covered by the CDIC, you must designate their trust account as a Professional Trustee Account with your financial institution and file as annual attestation in April of each year.
Practice Resource - Find out more about the new rules in effect April 2022 here: Canadian Deposit Insurance Corporation - FAQs.
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