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Trustee services

U.S. Bank has offered reputable and reliable trustee services for more than 150 years, either directly or through agent relationships. As trustee, we're dedicated to overseeing your unique account in the interest of your participants and beneficiaries. Our relationship management team provides experience and expertise obtained from decades of serving trust and employee benefit clients. Solutions we offer include:

  • Directed or discretionary trustee services: We can serve as a directed fiduciary or a discretionary investment manager of your retirement or nonqualified trust.
  • Custody and safekeeping: We provide custody and safekeeping of all securities through the Depository Trust Company, the Federal Reserve book-entry system, and other depositories and custodians.
  • Dedicated account manager to service your daily needs.
  • Collection of interest and dividends for all securities we hold.
  • Notification and processing of voluntary actions, mandatory actions and other corporate actions.
  • Settlement of trades: Trades are settled on a delivery-versus-payment basis directly with brokers or through the Depository Trust Company and the Federal Reserve book-entry system. Settlement policies are designed to maximize predictability of funds and investment returns.
  • Collection of principal and interest on called bonds, redemptions and maturities.
  • Cash sweep: All available and investible cash in your accounts is automatically invested on a daily basis.
  • Monthly statements list all transactions and assets on a settlement date or trade date/full accrual basis.
  • Benefit payments: We provide comprehensive pension and lump sum distribution processing with full 1099 tax reporting.
  • Online reporting: Secure, 24/7 access to our online system offers you user-friendly, real-time, tailored reporting and electronic statement delivery.
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