Minor’s Trust
In the August 9, 1999 Independent Production Agreement (IPA), which covers performers in Independent Production, the Alliance of Canadian Cinema Television and Radio Artists (“ACTRA”) negotiated the following language to secure income earned by a performer who had not reached the age of 18:
A2716 Trust Account After a Minor’s total lifetime remuneration reaches $5,000.00, twenty-five percent (25%) of the Minor’s gross remuneration shall be deducted from the total payment due to the Minor by the Producer and remitted to the ACTRA PRS, which shall hold such monies in trust for the Minor upon terms and conditions consistent with the obligations of the ACTRA PRS to act as a Trustee. The ACTRA PRS shall keep track of the Minor’s earnings to determine whether the $5,000.00 level is reached.
As of June 2002, ACTRA’s National Television and Radio Commercial Agreement also contains the same Minor’s Trust provisions.
By mid 2007, ACTRA Performers’ Rights Society (ACTRA PRS) conducted a review of the administration of the Minors’ Trust Fund. As a result of our subcommittee’s review, ACTRA PRS has taken over the day to day administration of the Trust from ACTRA Fraternal Benefits Society and have appointed Royal Bank Dominion Securities as the financial account manager for the Trust. Our primary objective in making these changes is to provide a better administrative service and the opportunity to maximize the returns on the Minors’ assets.
- Up to date information available from Minor’s Trust Administrator - #of units held and unit value
- Bi annual statement
- Tax forms
Please contact jland@actra.ca for more information