REE-088-22
Rev. 07/2020
TRUST ACCOUNT NOTIFICATION
575 E. Parkcenter Blvd., Suite 180
Boise, Idaho 83706
Offi ce: (208) 334-3285
Fax: (208) 334-2050
licensing@irec.idaho.gov
irec.idaho.gov
INSTRUCTIONS: Idaho Code 54-2041 through 54-2046 sets forth requirements for trust
accounts and handling entrusted funds. Use this form to advise the Real Estate Commission of
your brokerage’s plans for handling entrusted funds and to notify the Commission when you open
a trust account. Complete a separate form for each real estate trust account. Forms that are
illegible or incomplete will be RETURNED immediately without processing.
Designated Broker’s Name: ______________________________________________________________________________
Brokerage Name: _____________________________________________________ Company License No.: ______________
Mailing Address: _______________________________________________________________________________________
Address City State Zip
I will not hold entrusted funds. I am not opening a real estate trust account at this time. I understand it is my obligation
to notify the Commission if I open a trust account in the future.
I will hold entrusted funds, and my trust account information is provided below. (You must complete this entire form.)
Designated Broker’s Signature (required): ____________________________________________________________
Name of Bank, Title Company, or other Depository: ____________________________________________________________
Mailing Address of Depository: ____________________________________________________________________________
_____________________________________________________________________________________________________
City State Zip
Account No.: ___________________________ Phone: ____________________________ Fax: _______________________
Is this an interest bearing trust account? (check one) YES* NO
*If yes, transaction number and expected closing date: _________________________________________________________
Account closed? (check one): YES* NO
*If yes, provide the date of closure: ________________________________________________________________________
1. The real estate trust account is under the full control of the broker, and the funds deposited in the trust account are subject to with-
drawal on demand at the order or direction of the broker at all times. (Idaho Code 54-2042(3) and 54-2042(5))
2. The real estate trust account will have a separate and complete set of records, consisting of a monthly accounting, deposits,
charges, and withdrawals or checks. The broker is responsible for ensuring that these separate accounts records are provided by the
depository. (Idaho Code 54-2042(4))
3. The Idaho Real Estate Commission is hereby authorized to inspect the account upon request. (Idaho Code 54-2042(6))
Name and Title of Offi cial of Depository: _________________________________________________________
Depository Signature: ______________________________________________ Date: _____________________
BROKERAGE INFORMATION
TRUST ACCOUNT DEPOSITORY INFORMATION
AGREEMENT AND AUTHORIZATION TO INSPECT
IREC use only
License #:
__________________________
Approved:
__________________________
click to sign
signature
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click to sign
signature
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