Regulating Financial Services, Protecting Montanans


The Montana Division of Banking and Financial Institutions (Division) has approved the following fiduciary foreign trust company (FFTCO) to do business in Montana since 2020.  Registration status with the Montana Secretary of State can be verified through their website at

Name Address City State Zip Code Approval Date
First Trust Company, LLC* 1919 Hope Court, Suite 200 Rapid City SD 57701 12/29/22

*Non-Depository Trust Company

A "Foreign trust company" includes each banking and trust association or corporation organized under the laws of any state other than Montana that has the power to act as trustee, guardian, or conservator and each national banking association that maintains its principal office in any state other than Montana that has been granted permission by the comptroller of the currency to act in a fiduciary capacity under the provisions of 12 U.S.C. 92a, as amended (32-1-1001(1), MCA).


  • Send a letter to the Division requesting approval to become an FFTCO in Montana. The letter should identify the name of the trust company, it's domicile state, and provide detailed information of what they intend to do in Montana.
  • Provide a letter of reciprocity from the trust company's domicile state.
  • Provide a certificate of good standing from the trust company's domicile state.

Fee: None.

Expiration: The Division's approval is continuous until such a time as the institution stops acting as a fiduciary foreign trust company.

Restricted Trade Name Exception: An FFTCO acting pursuant to this part is not a foreign corporation regulated by 32-1-402, MCA. Therefore, the use of the words “Trust Company”, for example, do not require a waiver from the Division to register as a FFTCO with the Montana Secretary of State.

Designation for Service of Process: The FFTCO must appoint the Montana Secretary of State as its attorney for the service of all legal process in any action or proceedings involving any acts or defaults by it as trustee, guardian, or conservator. This is done through the registration process (see below).

Non-Depository Foreign Trust Companies

On November 10, 2022, the Montana First Judicial District Court issued an Opinion and Order on Motion for Summary Judgment that allows a non-depository trust company to do business in Montana.  The Division does not regulate non-depository trust companies.  Any consumer complaints should be filed with the trust company's domicile state.

Laws and Rules

ARM 2.59.136 - Foreign fiduciary trust company
32-1-1001, MCA - Definition of foreign trust company
32-1-1002, MCA - Appointment of foreign trust companies
32-1-1003, MCA - Designation of attorney for service of process
32-1-1004, MCA - Service of process
32-1-1005, MCA - Bond
32-1-1006, MCA - Rights and duties
32-1-1007, MCA - Solicitation of business