Deposits held in trust

Notice: The Government of Canada has proposed changes in Budget 2018 to modernize and enhance CDIC deposit protection. These changes would take effect after they are approved by Parliament. Until then, the current coverage rules apply. We will update our website at such time as changes take effect.

We insure up to $100,000 for each beneficiary named in a trust, provided certain disclosure rules are met.

CDIC covers different types of trusts. Here are three examples:

  • a grandmother (the trustee) deposits money in trust for her grandchildren (the beneficiaries) to use when they are adults.
  • a lawyer (the trustee) holds a down payment in trust for clients (the beneficiaries) buying a house.
  • a broker (the trustee) holds an investment in trust for clients (the beneficiaries).

To calculate deposit insurance, we will combine all eligible deposits within one trust held at the failed CDIC member institution. The total is insured to a limit of $100,000 per beneficiary if the trustee meets CDIC's disclosure rules.