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Explaining Your Trust Account Statement

A Guide to Your IIM Statement of Account

Account statements are generally mailed to Indian trust beneficiaries on a quarterly basis. These statements include account activity for the past quarter. If you receive income from an oil or gas asset, you will also receive an explanation of payment that includes the payor’s name and lease number, sales information, unit values, royalty information, and adjustments.

Note: If you have an account with a very low balance, and it has had no activity for the last eighteen months, you will receive a statement once a year.

Explaining your account number

Your personal IIM account number is made up of three sections, and will look something like “123 A 123456.” The first three digits represent a tribal code, land area code or Alaska Regional Corporation code. The one-letter character is an “alpha” or “class” code, which identifies the type of account you have.

For example:

A = Account holder is the original allottee of the land.

U = An Indian account holder who is not the original allottee but owns land interests or receives a per capita payment.

N = An Indian who is not enrolled in a federally-recognized tribe (lineal descendant).

L = Life estate, dower or courtesy, or homestead interest for an Indian.

B = Life estate, dower or courtesy, or homestead interest for a non-Indian.

J = Judgment per capita payment, generally used for minors and adults in need of assistance or under legal disability.

P = Tribal per capita payment generally used for minors or adults in need of assistance or under legal disability.

X = Non-Indian fee interest owner.

The group of numbers following the alpha code is your personal account number. In some cases this is your tribal enrollment number. Although you may have more than one type of account, your personal account number will always remain the same. Only the “alpha” code should be different.

Your IIM Statement of Performance includes:

• The UNDIVIDED OWNERSHIP of the tract of land listed, in other words, your “undivided interest” in that tract.
• The TRACT ID AND TRACT DESCRIPTION. The Tract ID is a unique BIA number assigned to a tract of land. The Tract Description is the tract name.
• The DOCUMENT ID is a unique BIA number assigned to identify the legal instrument (for example, the lease) that authorizes the use of the property.
• The ENCUMBRANCE TYPE is the lease, right-of-way, permit or other legal instrument that authorizes the use of the property.
• The number of ACRES in the tract of land.
• The OWNERSHIP CLASSIFICATION is the type of interest you have in the property. “Title” means that you hold title to the interest, but do not receive income from the use of the tract. “Beneficial” means that you do not hold title, but receive the financial benefits of your interest in the tract. You could have both a title and beneficial interest in property.
• The EFFECTIVE DATE is when the terms of the lease begin.
• The ENCUMBRANCE HOLDER is the person or entity responsible for paying for the use of the property.
• The geographical LOCATION of a tract includes the county and state where the land is located.
• The EXPIRATION DATE shows when the terms of the lease end.

  If you have questions, call the Trust Beneficiary Call Center, toll free, at 1-888-678-6836.