NAICS UNIVERSITY · Free research for insurance agents
Trust, Fiduciary, and Custody Activities
NAICS 523991 · United States · 2022 edition
This U.S. industry comprises establishments primarily engaged in providing trust, fiduciary, and custody services to others, as instructed, on a fee or contract basis, such as bank trust offices and escrow agencies (except real estate).
Activities described by this code
Other activities to examine
Census classification reference
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Compare another operationInsurance operations research — draft
Trust, fiduciary, and custody operations manage assets on behalf of clients — including individuals, estates, pension plans, and institutional entities — under legal fiduciary duty. Day-to-day activities typically include administering trusts and estates, managing investment accounts as directed, holding securities and assets in custody, processing distributions, and maintaining compliance with trust documents and applicable law. Escrow agencies handle the temporary holding and disbursement of funds according to contractual instructions.
Questions to investigate
- What types of accounts are administered — personal trusts, estates, institutional accounts, pension or retirement plans?
- Does the operation include custody of physical securities or alternative assets?
- What is the approximate total assets under administration or custody?
- Does the entity hold a state or federal banking charter, or operate as an independent non-bank trust company?
This insurance research was generated in April 2026. It has not received a complete human review. The October 12, 2026 audit checked codes and titles only, not descriptions or coverage assertions.