Child Performer Account
According to New Mexico State law, at least 15% of a child performer's earnings above $1,000 must be deposited in a trust account established by the child’s parent or guardian and funded by the child’s employer. Our Child Performer Account is a deposit-only account which is directed by the parent or guardian until the child turns eighteen. At that time, the parent or guardian may legally release control of the funds to the child.
- To open this account, minors ages 14-17 must have a valid photo ID; minors under age 14 must have a valid Social Security number. The guardian must have a valid government issued photo ID.
- Deposits are made by the employer to either a non-transaction share account or a money market account.
