How to Edit Trust Profiles

Editing trust profiles in Connectworks

After a trust has been set up, a profile can be edited in two ways:

Option 1: Using the edit button from the Clients gallery:


Option 2: Entering the trust workspace (by clicking on the name) and then selecting edit in the top right corner of the workspace:


After selecting edit you will be directed to the update trust form, where you can add/edit all the essential details about the entity. Navigate between the tabs on the left, select Update to save information in each tab, or Update and close to exit the form.

Fields available to edit in the profile are:

General Details

  • Name

    • Name of Trust

    • Trading name (if different)

  • Structure

    • Legal jurisdiction

    • Type of trust (Family, Estate, Trading, Charitable, Investment, Farm, Business value protection, Living, Property, Testamentary, Standby, Non-active, Foreign, Employee Share scheme or Other)

    • Decision policy (Unanimous/Majority)

  • Key Dates

    • AGM date

    • Settlement date

    • Gifting date

  • Terms of the trust

    • Vesting date

    • Vesting event

    • Notes on the terms of the trust

    • Power of appointment

    • Power to vary trust deed

    • Distributions within 6 months (not aware/yes/no)

    • Distributions of gross income (not aware/yes/no)

    • Investment strategy notes

    • Bank name

    • Account name

    • Account number

    • Notes on banking arrangements

Contact Details

  • General

    • Email

    • Website

    • Primary phone & Other phone

  • Physical address

  • Postal address

Tax information

  • Tax residency country

  • IRD Number

  • GST Number

  • Tax code

  • Files tax return (not aware/yes/no)

  • Subject to foreign tax requirements (not aware/yes/no)

    • This is used to alert for the case where a member is a resident of another tax jurisdiction in a way that may affect how tax is treated.

  • Annual balance date

  • Subject to FATCA reporting (not aware/yes/no)

  • Giin

  • Subject to Common Reporting Standard (not aware/yes/no)

  • Financial classification

    • Not specified

    • Passive non-financial entity

    • Active non-financial entity

    • Reporting NZ financial institution

    • Non-reporting NZ financial institution

Client Admin

  • Management

    • Business unit (see more here)

    • Partner and Manager (see more here)

    • Client reference

    • Annual review date

    • Set up status (see more here)

    • Summary notes

Associated Parties