Dormant Trust Account Audit from $149 + GST
Fixed-fee audit support for a trust account that stayed inactive for the full audit period. If there were no transactions, no trust money, and no balance during the period, this dormant scope helps address the reporting obligation without active-account audit pricing.
When a Trust Account Is Dormant
To be considered dormant, the account must remain entirely free of funds and unused for any trust-related activity throughout the audit period. Despite its inactivity, it must still comply with applicable regulatory and reporting obligations until it is formally closed.
No transactions
The account had no deposits, withdrawals, transfers, interest, fees, or other activity during the audit period.
No trust money
No client money or other trust money was received, held, or paid through the account during the period.
Zero balance
The account remained free of funds for the full period, not only at year end.
Still open
The account was not formally closed, so regulatory or reporting obligations may still apply.
Why Keep a Dormant Trust Account?
Even if a trust account is not currently in use, there can be valid reasons for keeping it open. Some firms retain dormant accounts to avoid closing and reopening, to meet licensing or compliance requirements, or in anticipation of future trust activity.
Others may be winding down or restructuring their practice. Whatever the reason, dormant trust accounts must still meet the regulatory obligations that apply to the account, state, and profession.
What We Usually Need
Dormant Trust Account Audit Pricing
The dormant fee applies where the account had no activity, no trust money, and no balance for the full audit period. If the statement shows any transaction, we will confirm whether a standard trust account audit is required.
Dormant treatment is scope-specific. It does not replace any official regulator declaration, nil-trust notification, or lodgement step that applies to your state or profession.
Prompt replies - Fixed pricing - No hidden fees
Dormant Trust Account Questions
Is a dormant trust account the same as a closed account?
No. A dormant trust account is still open but inactive. A closed account has been formally closed through the bank and, where required, notified or handled under the regulator process.
Can I use this if the account had one small transaction?
Usually no. The dormant fee is for accounts with no activity for the whole audit period. Any transaction means the account needs a separate scope check.
Do you help with no-trust-money declarations?
We can help you understand the audit evidence and likely pathway, but regulator declarations or lodgements depend on your state, profession, and official requirements.