LMRA "trust" requirement

[mal]

Assuming a union and multi-employer bargaining unit

have signed a declaration of trust to create a plan, is

there any reason the trust assets couldn't be maintained

within a union subaccount?? There is joint administration

and audits of the account.

I know the usual procedure is to set up a custodial account

with a bank, but is it required?

[KJohnson]

If the assets belong to the trust and you are putting them in an account "owned" by the union, you have, at the very least, a P.T.