Adding and Managing Entities (Trust) in easyAML

Learn how to add a trust in easyAML - discretionary (family), unit or SMSF - using the automated AI reader to extract details from the trust deed, then identify the individuals who ultimately own or control it.

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1. Select Add Entity to begin the KYB process (open directly). Unlike adding an individual, adding an entity triggers a KYB - Know Your Business - rather than a KYC. The KYB doesn't just verify the entity itself; it unwraps the ownership structure to identify the natural persons who ultimately own or control it. AUSTRAC's CDD obligations don't stop at the entity - they require you to trace through to every individual who holds 25% or more ownership or control.
2. Select Trust as the entity type. Unlike a company, a trust isn't registered on any public register - there's no ASIC equivalent for trusts. The trust deed is the only authoritative source of who controls and benefits from the trust, which is why the process here differs from a company KYB. The platform will ask you to upload the deed and use it to identify the key parties - trustees, appointor, settlor, and named beneficiaries.
3. Upload the trust deed here - the platform's AI trust-deed reader will extract the key parties automatically and pre-fill the fields for you to review and confirm. Otherwise you can opt to enter the details manually.\ \ The parties the platform is looking for are: the Trustee (the legal controller of trust assets), the Appointor (the person with power to hire and fire the trustee - typically the most controlling role), the Settlor (who established the trust), and any Named Beneficiaries(adult) with substantial entitlement. If you don't have the deed on hand yet, you can enter the details manually and upload the deed later - the platform stores it against the trust's record with the standard 7-year retention.
4. Once the deed has been processed and the parties confirmed, the trust's profile is created in easyAML - showing its verified details, identified controlling persons, and current status. This is the record the rest of the compliance process runs against. From here, the trust can be tagged to transactions. Note that unlike a company, ongoing monitoring for a trust is based on the deed and the individuals behind it rather than ASIC changes - any updates to trustees, appointors, or beneficiaries should be reflected in the platform promptly.
5. Navigate to the UBOs tab inside the trust profile. This displays every individual identified as a controlling person or named beneficiary - trustees, appointor, and any named adult beneficiaries with substantial entitlement. Each of these individuals needs to go through a KYC before the trust's CDD is complete. If any of them are already in your records from a previous matter and within the two-year validity window, their existing verified profile links across automatically. For anyone new to the system, follow the steps in our Adding an Individual guide to send their verification link and complete the KYC.
6. The Documents tab is where the trust deed and any supporting documents are stored against the trust's record. This is the permanent home for the deed, any deed amendments, and supplementary evidence collected during the KYB process - all retained automatically for the 7-year period required by AUSTRAC. If the deed is updated or a deed of variation is executed, upload the new version here so the record stays current.
7. The verification checklist gives you a live view of where each party stands - which individuals have completed their KYC, which are pending, and whether any screening results need review. The trust's overall compliance status won't be complete until every party on this list has been verified and any screening flags resolved.
8. Once all parties have been verified, the platform updates the trust's risk rating to reflect the full picture - the trust's own profile combined with the risk levels of the individuals behind it. The trust is now active in easyAML and ready to be tagged to transactions. To find it later, use Entities > List Entities - this is where you'll see every entity in your records, their verification status, and any items flagged for follow-up. That covers adding a trust in easyAML.