Trust Accounts
New York State Law requires fifteen percent (15%) of a child perfomer's earnings to be placed in trust in accordance with Part 7 of Article 7 of the Estates, Powers and Trusts Law. The child performer's parents or guardian must establish the Child Performer Trust account to comply with this requirement. The child's parents or guardian must provide the child performer's employer with the information necessary to transfer these monies to the account. Failure to comply with this requirement will prevent the Department of Labor from renewing the child's permit to work as a child performer.
New York State law requires that a child performer’s employer transfer fifteen percent (15%) of a child performer’s gross earnings for placement into a trust for the child performer established by the child performer’s parent/guardian. The employer must:
- Obtain from the child performer’s parent/guardian or custodian the information required to make the transfers.
- Transfer the appropriate amounts for placement into the trust account.
- When the employment contract is for 30 days or less, transfer 15% of gross earnings within thirty (30) days following the final day of the child performer’s employment.
- When the employment contract is for longer than 30 days, transfer 15% of gross earnings at the end of each payroll period.
- By request of the parent/guardian or custodian, the amount transferred can be increased to more than 15%.
- If the parent/guardian or custodian has not provided the necessary information within 15 days of the start of employment, or no such account has been established, transfer the money together with the child performer’s name and last known address to the State Comptroller for placement into the child performer’s holding fund. The State Comptroller may be contacted at (518) 474-4017.
The parent/guardian must:
- Establish a child performer trust account within 15 days of the start of employment, unless one already exists.
- Notify the child performer’s employer of the existence of the account within 15 days of the start of employment including any additional information required to make transfers.
- Notify the employer of any change in facts that could affect the employer’s obligation to make transfers.
- Notify the child performer’s employer if they wish to transfer more than 15% of the child performer’s gross earnings.
- Appoint a trust company as custodian of the account once the balance reaches $250,000.
The Law pertaining to Child Performers
Frequently Asked Questions about the Child Performer Law
Employer Certificate Combined Application
Child Performer Permit Combined Application
Verification of Satisfactory Academic Performance
Child Performer Online Application System
Verification of Workers' Compensation/Disability Insurance Coverage
