Iowa § 633F.15 Reporting and accounting by custodial trustee — determination of liability of custodial trustee

Iowa Statutes

§ 633F.15 — Reporting and accounting by custodial trustee — determination of liability of custodial trustee

Iowa § 633F.15

Title XVJUDICIAL BRANCH AND JUDICIAL PROCEDURES

Ch. 633FIOWA UNIFORM CUSTODIAL TRUST ACT

This text of Iowa § 633F.15 (Reporting and accounting by custodial trustee — determination of liability of custodial trustee) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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Iowa Code § 633F.15 (2026).

Text

custodial trustee.

1.Upon the acceptance of custodial trust property, the custodial trustee shall provide a written statement describing the custodial trust property and shall thereafter provide a written statement of the administration of the custodial trust property as follows:

a.Once each year.

b.Upon request at reasonable times, but not more than quarterly during any calendar year, by the beneficiary or the beneficiary’s legal representative.

c.Upon resignation or removal of the custodial trustee.

d.Upon termination of the custodial trust.

2.The statements must be provided to the beneficiary or to the beneficiary’s legal representative, if any. Upon termination of the beneficiary’s interest, the custodial trustee shall furnish a current statement to the person to whom the custodi

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custodial trustee.
1. Upon the acceptance of custodial trust property, the custodial trustee shall provide
a written statement describing the custodial trust property and shall thereafter provide a
written statement of the administration of the custodial trust property as follows:
a. Once each year.
b. Upon request at reasonable times, but not more than quarterly during any calendar
year, by the beneficiary or the beneficiary’s legal representative.
c. Upon resignation or removal of the custodial trustee.
d. Upon termination of the custodial trust.
2. The statements must be provided to the beneficiary or to the beneficiary’s legal
representative, if any. Upon termination of the beneficiary’s interest, the custodial trustee
shall furnish a current statement to the person to whom the custodial trust property is to be
delivered.
3. A substitute or successor custodial trustee designated under section 633F.3, a
beneficiary, the beneficiary’s legal representative, a member of the beneficiary’s family, or a
person interested in the custodial trust property may petition the court for an accounting by
the custodial trustee or the custodial trustee’s legal representative.
4. A successor custodial trustee may petition the court for an accounting by a predecessor
custodial trustee.
5. In an action or proceeding under this chapter or in any other proceeding, the court
may require or permit the custodial trustee or the custodial trustee’s legal representative to
account. The custodial trustee or the custodial trustee’s legal representative may petition the
court for approval of final accounts.
6. If a custodial trustee is removed, the court shall require an accounting and order
delivery of the custodial trust property and records to the successor custodial trustee and
the execution of all instruments required for transfer of the custodial trust property.
7. On petition of the custodial trustee or any person who could petition for an accounting,
the court, after notice to interested persons, may issue instructions to the custodial trustee or
review the propriety of the acts of a custodial trustee or the reasonableness of compensation
determined by the custodial trustee for the services of the custodial trustee or others.