523991 Trust, Fiduciary, and Custody Activities

Official definition

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).

Source: US Census Bureau, 2022 NAICS descriptions.

When to use a different code

Census classifies these close-sounding activities somewhere else. Businesses mainly engaged in:

• Establishments primarily engaged in managing the portfolio assets (e.g., trusts, funds) of others are classified in Industry 523940, Portfolio Management and Investment Advice.
• Legal entities (i.e., trusts, estates, or agency accounts) administered on behalf of the beneficiaries under the terms of a trust agreement, will, or agency agreement are classified in Industry 525920, Trusts, Estates, and Agency Accounts.
• Establishments primarily engaged in performing real estate escrow or real estate fiduciary activities are classified in Industry 531390, Other Activities Related to Real Estate.
• Establishments primarily engaged in awarding grants from trust funds are classified in Industry 81321, Grantmaking and Giving Services.

Source: US Census Bureau, 2022 NAICS cross-references.

Activities listed under 523991

The Census index assigns these 8 activities to this code. If your business matches one, this is your code.

• Administrators of private estates
• Bank trust offices
• Escrow agencies (except real estate)
• Fiduciary agencies (except real estate)
• Personal investments trust administration
• Securities custodians
• Trust administration, personal investment
• Trust companies, nondepository

Source: US Census Bureau, 2022 NAICS index file.

SBA size standard for 523991

To count as a small business for SBA loans and federal contracts under NAICS 523991, your business (including affiliates) must not exceed $47 million in average annual receipts. Check your business.

Source: SBA table of size standards, effective March 17, 2023.

Closest UK SIC 2007 codes

There is no official one-to-one link between NAICS and UK SIC. These codes share the same international class (ISIC Rev. 4: 6619), so treat them as a starting point and check the definition.

• 66190Activities auxiliary to financial intermediation n.e.c.UK SIC

Built from Census concordances 2022→2017 NAICS and 2017 NAICS→ISIC Rev. 4.

Similar codes to compare

• 523999Miscellaneous Financial Investment Activities