Trust moneys
Starting November 15, 2024, possible Canada Post mail delays
Mail delivery to and from Indigenous Services Canada may be delayed due to a Canada Post labour disruption. While there may be delays, the Department remains focused on supporting individuals with active estates or trust accounts.
Find out how First Nations can manage their moneys in trust. Learn about Indigenous Services Canada's (ISC) responsibility to manage moneys held in trust for First Nations and their members.
You might have money in trust
If you are registered under the Indian Act, you may have money held by Canada in an individual trust account. To find out, visit Minors Account Payout Initiative.
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What are trust moneys
Trust moneys are all moneys collected, received or held in trust by ISC for the use and benefit of First Nations and their members. Trust moneys are held in the Consolidated Revenue Fund, where public moneys are deposited, as defined under the Financial Administration Act.
There are 2 types of trust moneys:
- Individual moneys
- First Nation moneys
Individual moneys
Indigenous Services Canada's (ISC) manages individual moneys on behalf of registered minors under the Indian Act, dependent adults (based on a provincial designation as such), and estates of certain deceased individuals. These moneys are administered and accessed through the Estates Program according to sections 42 to 52 of the Indian Act.
Registered minors
An individual trust account holds certain moneys for a minor until they reach the age of majority in the province, territory or place of residence, at which time the account balance is paid to them and the account is closed. Individual trust accounts are usually established in one of two situations:
- When the Minister exercises jurisdiction over property of a minor
- When a First Nation requests ISC to retain a minor's share of per capita distributions
Trust accounts administered by ISC on behalf of minors accrue interest until they are paid out. To learn more, visit Who is a minor?
The Minors Account Payout Initiative was established to pay individuals who have a trust account with ISC and have reached the age of majority in their province, territory or place of residence. To learn more, visit Minors Account Payout Initiative.
Dependent adults
If a member of a First Nation, who ordinarily lives on reserve, is found incapable of handling their own financial affairs, ISC may establish an account for them and manage their day-to-day income and expenses. These accounts accrue interest.
Estates
Where a First Nation member, who ordinarily lives on reserve, dies, the Minister has exclusive jurisdiction over the estate. ISC may appoint an outside administrator (provincial officer, family member, etc.) or, as a last resort, appoint an ISC employee to administer the estate. Estate trust accounts are established by ISC as required in order to administer the estate. Estate trust accounts are entitled to interest, with the exception of accounts established for missing heirs.
For more information, visit Estate services for First Nations.
First Nation moneys
First Nation moneys are managed by ISC on behalf of First Nations according to sections 61 to 69 of the Indian Act, which outline ISC's responsibilities for the collection, maintenance, disbursement and accounting of these moneys.
There are 2 types of First Nation moneys:
- Capital moneys
- Revenue moneys
Capital moneys
Capital moneys are trust moneys that come from the sale of the First Nation's surrendered lands, from an interest in the land, or from the sale of the First Nation's non-renewable resources.
Examples of capital moneys include proceeds from:
- Oil and gas revenues
- Sale of a First Nation's reserve lands
- Sale of timber without a reforestation program
- Sale of gravel
Revenue moneys
Revenue moneys include all other First Nation moneys other than capital moneys.
Examples of revenue moneys include proceeds from:
- The sale of renewable resources
- Reserve land activities such as leases, permits and rights-of-way
- Fines
- Interest earned on capital and revenue moneys held by ISC
How First Nations can access and manage their moneys
First Nations have various options for accessing their trust funds, including exercising more access than currently provided by the Indian Act alone:
- First Nations Oil and Gas and Moneys Management Act
- First Nations Land Management Act
- First Nations Fiscal Management Act
- Policy on the Transfer of Capital Moneys Through Paragraph 64(1)(k) of the Indian Act
- Band Council Resolution requesting access to capital and revenue moneys per sections 64, 66 and 69 of the Indian Act (all First Nation moneys)
- To learn more about how First Nations under self-government agreements control their moneys consult: Self-government
Visit the various acts or the Manual for the administration of First Nation moneys to learn more.