Retention Trust Training | Queensland Building and Construction Commission

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To support this requirement, we are delivering specialised retention trust training for trustees and trust account administrators. 

Who needs retention trust training? 

Training and the assessment must be completed by the RTA trustee or a person nominated by the trustee to administer the RTA on their behalf (for example, a director, financial officer or contract administrator).  

A person only needs to successfully complete the training once (not once per RTA).

A trustee is permitted to nominate more than one person to complete training. Trustees are also responsible for initiating further training for a new RTA administrator if required (e.g. they employ a new financial officer).

To learn more about who needs to open an RTA use our simple trust account tool.

When must training be done?

There are specific timeframes for completion of retention trust training. Trustees or their nominee must complete the training within 20 business days of whichever of the following events occurs first:

  • an RTA administrator being nominated 
  • an eligible retention amount being withheld.

Penalties may apply if training is not completed, and a certificate of completion is not recorded for the trustee for an RTA.

How is training delivered?

We are currently delivering retention trust training online via a 2-hour facilitated webinar. 

Participants will:

  • receive a Learner Guide at the start of the session (for note taking) 
  • complete an assessment 
  • receive a certificate of completion on successful completion the training and assessment.

Trustees and/or nominees can register to attend one of their preferred sessions below.

Register for a session

Proposed time Registration link
Wednesday 7th June - 8am - 10am Register
Tuesday 13th June - 1pm - 3pm Register
Thursday 22nd June - 11am - 1pm Register
Monday 26th June 12pm - 2pm Register

Note: this list of upcoming sessions is updated monthly. 

Training outline

Title Content

An overview of key concepts that underpin the trust account framework. 

Trust account framework
  • an overview of the legislation and a review of the protections provided by the trust account framework
  • an overview of the trust account framework
  • general rights and responsibilities of the trustee.
Retention trust requirements
  • a broad overview of the eligibility criteria for the retention trust account
  • the process for establishing/opening and closing the retention trust account
  • the notification requirements for establishing/opening and closing the retention trust account.
Opening and administering a trust account An in-depth look at the restrictions for trust account transactions (including notices about payments).
Keeping trust records An in-depth look at the requirements for trust records including the monthly reconciliation and trust account review.
Other trust matters and summary A summary of the key points and takeaways for this training.
Using myQBCC A guided tour of the key features in myQBCC that will help you manage and administer your trust account.
Assessment A 15-question assessment that allows users to test their knowledge using scenario-based question

Need help?

Contact us for more information, or for questions on registering or meeting the training requirements.

Need help accessing the webinars? Follow this support guide

Last reviewed: 6 Jan 2023 Last published: 6 Jan 2023
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