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Withdrawing Tribal Funds from TrustThe Department of the Interior promotes Indian self-determination and self-governance efforts, including the withdrawal of tribal funds from trust. For more than 100 years, Interior has managed and invested Indian trust funds for tribes and Individual Indian Money beneficiaries. In 1994, enactment of the American Indian Trust Fund Management Reform Act made it possible for Indian tribes to withdraw their trust funds from Interior for independent management. Currently, Interior’s Office of the Special Trustee for American Indians (OST) manages Indian trust funds. When a tribe withdraws its funds it may invest them in a broader range of financial options than what is authorized to OST. When a tribe withdraws its funds from trust, Interior no longer bears a fiduciary responsibility for those funds. Trust funds may be returned to Interior for management at a later date if the tribe chooses. Interior’s fiduciary trust responsibility is reinstated if a tribe returns the funds. Who is Eligible to Withdraw Tribal Trust Funds?Any tribe for whom OST manages funds in trust may be eligible to withdraw its funds and manage them independently. What funds may be withdrawn?The 1994 Act provides specific authority for tribes to withdraw judgment and settlement funds that are deposited in trust with Interior. Tribes may withdraw other funds held in trust under several other authorities. Are there restrictions?There are a number of requirements for withdrawal under the 1994 Act. There also may be specific statutory restrictions. For example, an Act of Congress or settlement agreement may require certain funds to remain in trust. All restrictions are explained in the Code of Federal Regulations (CFR), Chapter 25, Part 1200. See the contact information below to request a copy of the section of the CFR that applies to the tribal withdrawal process, or go to the U.S. Government Printing Office website at www.gpoaccess.gov/cfr/index.html. What is the Withdrawal Process?The CFR defines how tribes may withdraw their funds from trust, how to return funds to trust, and how to request assistance to prepare plans to manage the funds when removed from OST management. In summary:A tribe must submit several documents including:
For more information:A number of tribes have withdrawn their tribal funds from OST for self-management and investment. OST promotes Indian self-determination and self-governance efforts. To request an application package to withdraw tribal funds from the Department of the Interior:
or 1849 C Street NW, Suite 5140 Washington, D.C. 20240 |
U.S. Department of the Interior
Office of the Special Trustee for American Indians
1849 C Street, NW, Suite 5140 •
Washington, D.C. 20240
(202) 208-4866 • (888) 678-6836 (Toll Free Trust Beneficiary Call Center)
Last Updated on 05/22/07