Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Acct 17 What is the difference between a trustee and a custodian?

April 26, 2017Acct custodian difference Trustee

0

Posted

Acct 17 What is the difference between a trustee and a custodian?

1 Answer

0

Posted

Very little, in practical terms and either can be used to administer an HSA. Banks usually act as trustees and investment companies or insurance companies usually act as custodians. The services provided to the account owner are the same.