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Why must parents/guardians open a trust account for their child?

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The law says that employers must deposit at least 15% of the performer’s earnings in a trust account. If the employer does not receive any trust account information within 15 days of the start of employment, the employer must turn this money over to the State Comptroller. The Comptroller will hold the money in the child performer’s name until he/she reaches the age of majority. The law does not allow the Department of Labor to issue a 1-year Child Performer Permit to a child performer unless trust account information is provided with the application.


October 2018

Tags: New York, Child Performer

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