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Important Notices

June 30, 2008

DFI - Call Report - Second Quarter 2008

SECOND CALL 2008

TO THE PRESIDENTS OF ALL TRUST COMPANIES:

Dear Sir or Madam: 

Please read this letter thoroughly for instructions on how to download, save and email the Second Quarter 2008 call report forms and instructions from the Department of Financial Institutions (DFI) Web site. If you do not have access to the Web, or cannot access the forms, contact Patrick Carroll at pcarroll@dfi.ca.gov or by telephone at (415) 263-8559 to make other arrangements.

DFI no longer mails out hard copy call report forms and diskettes. Instead, licensees download, store and print the call report forms in Excel format from the DFI Web page, and submit their reports via email.

Downloading Call Report Forms

Open your Web browser to www.dfi.ca.gov/forms/trust/trustforms.asp. Or, to navigate to the form from the DFI Home page, www.dfi.ca.gov, click on the “Resources” tab, then click “DFI Forms” then click “Trust Company and Department Forms.”

Scroll down the page and locate the links to the following forms. Notice that for each form there is a link to an Excel workbook. For your convenience, links to the forms are also provided below:

Click on the link to the Form 502 – Report of Condition.

If the file/download box appears on your screen, click the open button to open the form.

Enter the "Department of Financial Institutions number" in the appropriate place on the report. For your convenience, that information can be found here http://www.dfi.ca.gov/directory/trust.asp.

Complete filling in the form. Name it Form502.xls and save it to a familiar location on your computer.

Print out and keep a signed, executed hard copy of the form in a file at the trust company.

Below each form link is a link to instructions for the preparation of that form. The instructions are in Adobe PDF format. For your convenience, links to the instructions for preparation of the form are provided below:

Please contact Charlotte Imoto at (213) 897-2224 or by email at cimoto@dfi.ca.gov with any questions about completing these reports.

Submitting the Call Report Forms

After you have prepared the reports, send the completed reports as email attachments to callreport@dfi.ca.gov. Please put the name of your institution and the call date in the subject line of your message. Keep a signed, executed copy in a file at the trust company. Respond within 30 days from the reporting date. Reports must be emailed by Wednesday, July 30, 2008.

Form 505 – Schedule RC-T Fiduciary and Related Services

Starting in the Fourth Quarter 2001, Form 503, the Fiduciary Statement was replaced by Form 505, Schedule T, Fiduciary and Related Services as a result of the federal bank regulatory agencies having recently added “Schedule RC-T – Fiduciary and Related Services”, to the federal Call Report. The report was modified slightly in March 2002. Any prior hard copy or electronic versions of electronic versions of prior versions of form 505 Schedule T – Fiduciary and Related Services (New 12/02) or form 503, Fiduciary Statement should be deleted.

Things you need to know :

  1. Form 505 “Schedule T – Fiduciary and Related Services” is required from each commercial bank with trust powers and each independent trust company, regardless of the amount of fiduciary assets held.
  2. Form 505 “Schedule T – Fiduciary and Related Services” is required on a quarterly basis, beginning December 31, 2001.
  3. To the greatest extent possible, Form 505 “Schedule T – Fiduciary and Related Services” and related instructions are a reflection of the federal “Schedule RC-T – Fiduciary and Related Services” and related instructions. The principal difference relates to the frequency of the reporting.
  4. Form 505 “Schedule T – Fiduciary and Related Services” contains a “CONFIDENTIAL” section, which will not be made available to the public on an individual institution basis.
  5. Independent trust companies will continue to be required to submit a corporate “Trust Company Consolidated Report of Condition” on a quarterly basis. The form can now be found on the DFI Web site in Excel format at www.dfi.ca.gov/forms/trust/Form502.xls . Instructions for completing this form are at: www.dfi.ca.gov/forms/trust/Form502Instructions.pdf . (PDF format)
  6. Independent trust companies are now required to submit form 524 “Trust Company Report of Income" on a quarterly basis. PLEASE NOTE this is an increase in the frequency of submission of this report, from semi-annually to quarterly. The form can now be found on the DFI Web site at www.dfi.ca.gov/forms/trust/Form524.xls . Instructions for completing this form are on the DFI Web site at: www.dfi.ca.gov/forms/trust/Form524Instructions.pdf (PDF format).

We appreciate your cooperation and if you or your servicer has any comments or questions regarding these reports, please contact Charlotte Imoto, Assistant Deputy, at (213) 897-2224 or cimoto@dfi.ca.gov.

Signature Requirements

Although trust companies may now send in their call report forms as email attachments instead of as hard copies, a signed, executed hard copy of each call report form must be kept in a file at the trust company. This file must be available upon request to examiners during the course of a trust examination.

Call Report Amendments

Trust companies making amendments to the call report must continue to send a copy of the amendment to this office, as well as filing a hard copy of the amendment in the call report file at the trust company. Amendments may be made in Excel format, as email attachments.

We appreciate your cooperation in furnishing us with accurate information in a timely manner.

Very truly yours,

PATRICK C. CARROLL
Strategic Support Manager