Glossary · UK
What is Trust Registration Service (TRS)?
HMRC's online register for trusts, required since 2022 for most UK express trusts under the 5th Money Laundering Directive.
Full Definition
The Trust Registration Service is HMRC's digital system for trust registration, accessible through the Government Gateway. Since the implementation of 5MLD in 2020 and expanded in 2022, virtually all UK express trusts -- whether taxable or not -- must be registered within 90 days of creation. The register records the identities of settlors, trustees, protectors, beneficiaries, and others with ultimate control. It is not fully publicly accessible (certain information is restricted to law enforcement and anti-money-laundering-regulated professionals). Failure to register or update the register carries penalties. Key exemptions include trusts arising under a will (for up to 2 years), bare trusts for a minor beneficiary held by a parent, and certain pension trusts.