How Your Minor’s Trust Fund is Managed
Understanding the EBCI Minor’s Trust Fund
The EBCI Minor’s Trust Fund is a financial resource for enrolled members of the Eastern Band of Cherokee Indians (EBCI), funded by per capita distributions from gaming revenue.
Management of the Minor’s Trust Fund
The Minor’s Trust Fund is overseen by the Investment Committee (IC), which is appointed by the Principal Chief and approved by Tribal Council. The committee manages the trust with the assistance of a consulting group that provides investment recommendations.
All investment decisions adhere to an Investment Policy Statement, which is reviewed annually. The goal is to maximize growth while minimizing potential losses. However, like all investments, the trust fund experiences periods of both growth and decline. To protect participants, the contributed amount (the per capita payments) is indemnified by Tribal Council, ensuring that at a minimum, participants will receive their original contributed amount.
How your Funds are Invested Your funds are invested with the assistance of USI Consulting Group.
Accessing Your Account
Each participant in the Minor’s Trust Fund has online access to their account, allowing them
to:
- View their account balance
- Access quarterly statements
- Retrieve 1099-MISC tax forms
To register your account, visit Minors Trust Fund – Eastern Band of Cherokee Indians and follow the provided instructions.
Understanding Your Account Balance
When viewing your Trust Fund balance, it is divided into two components:
- Contributions – These are the funds deposited into your account from gaming revenue.
- Earnings – This reflects the returns generated by investments on those contributions. Since funds remain invested until withdrawn, they are subject to both gains and losses.
Withdrawal Schedule and Options
Participants can begin withdrawing from their Minor’s Trust Fund at the following ages:
- 18, 20, 22, 24 – You may withdraw up to $50,000 at each approved age.
- 25 – The remaining balance is available for withdrawal.
Additionally, participants may request withdrawals for:
- Medical expenses not covered by insurance or the Cherokee Indian Hospital
- Educational expenses not covered by the EBCI Education Department
- Home purchases, for participants over the age of 18.
How to Request a Withdrawal
To access funds, participants must complete a withdrawal application, which requires a notarized signature. Applications can be obtained from the EBCI Finance Office or online at https://www.ebci.gov/minors-trust-fund/.
Applications are accepted quarterly, with submission deadlines
- March 31
- June 30
- September 30
- December 31
Taxes
Any Per Capita funds you withdraw from your Minor’s Trust Fund are subject to a mandatory 25% federal tax, which is withheld before the funds are disbursed. Even though this tax is automatically taken out, it’s important to fi le your income taxes at the end of the year—you may be eligible for a refund of a portion of those taxes.
If you live on the Qualla Boundary, you are not required to pay state income taxes. However, if you live off the Boundary, you may be responsible for state taxes on your Per Capita distribution. It’s a good idea to set aside some of your funds to cover this potential expense.
For help with tax filing, the Eastern Band of Cherokee Indians offers a free Voluntary Income Tax Assistance (VITA) program each year from February through April.
For questions about your Minor’s Fund you can contact:
Lavita Hill is the EBCI Treasury Specialist. She oversees the Tribe’s current investment accounts, including Minors Trust Fund and Elected Offi cials Pension. Lavita’s contact information is email: lavihill@ebci-nsn.gov or office phone: 828-359-7085. Finance Department phone: 828-359-6001.
Connor Reed is the EBCI Treasury Analyst. He is responsible for the quarterly distributions of the Minors Trust Fund and manages the annual VITA service for the community. If you need assistance with a Minors Trust Fund application, please contact Connor at email: connreed@ebci-nsn.gov or office phone: 828-359-6640.