Common Trust Fund

Common Trust Fund

Common Trust Fund means:
a fund maintained by a bank exclusively for the collective investment and reinvestment of monies contributed to the bank in its capacity as a trustee, executor, administrator, guardian, or custodian of accounts. Such a fund is not taxable and is not treated as a corporation. Former IRC (check if this IRC provision is current here) § 584(a).


Posted

in

by

Tags:

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *