Robinhood's updated Customer Agreement, detected on July 12, 2026, substantially expands governance provisions for trust and custodial accounts. The agreement adds 87 new sentences establishing fiduciary representation requirements, trustee onboarding procedures, and liability frameworks for trust accounts, while removing language about custodian authority over minor accounts. The revised terms authorize Robinhood to rely on trustee instructions without independent verification of fiduciary compliance or trust instrument validity, and establish personal liability for trustees whose actions fall outside their authority under applicable law.
Consumers: You must tell Robinhood immediately if your trust is amended, revoked, or if the person managing it changes.
Consumers: As a trustee, you can be personally held responsible for any losses if you give instructions that exceed your authority under the trust document or law.
Consumers: Before you can manage a trust account at Robinhood, you must verify your identity and sign trust paperwork.
Consumers: You must give Robinhood the correct tax ID number for the trust, and should get tax advice about which number to use.
Consumers: Robinhood can freeze your trust account and ask for new paperwork whenever it wants.
Consumers: Language stating custodians must request account transfer when a minor reaches the age of termination was removed, though the operational requirement may remain through other sections.
The updated terms establish new fiduciary verification and personal liability provisions for trust and custodial accounts. Trustees are now required to complete Robinhood's identity verification and onboarding before accessing trust accounts, notify Robinhood promptly of any material changes to the trust (amendments, revocation, trustee changes), and provide the correct taxpayer identification number for the trust. The revised language states that trustees are personally liable for obligations, debts, or negative equity arising from instructions given outside the scope of their authority under the trust instrument or applicable law. Robinhood reserves the right to freeze trust accounts or request updated documentation at any time, and will rely on instructions from any onboarded trustee without requiring consent from co-trustees or verifying compliance with the trust instrument. You should consult a tax advisor regarding the appropriate taxpayer identification number for your trust and review your fiduciary authority under the applicable trust instrument before executing trades.
→ Review your trust instrument to confirm your authority as trustee to execute trades and manage investments through Robinhood.
→ Notify Robinhood promptly of any amendment to the trust, change in trustee, revocation, or material modification.
→ Complete Robinhood's identity verification and trust documentation requirements before attempting to access or manage any trust account.
Robinhood may rely solely on trustee representations without verifying trust validity, trustee authority, or compliance with trust instruments; trustees bear personal liability for actions outside their authority.
Trustees are personally liable for obligations arising from instructions outside their fiduciary authority; trustees must indemnify Robinhood for claims arising from Robinhood's reliance on trustee instructions.
Robinhood may accept instructions from any onboarded trustee without consent of other co-trustees and is not responsible for verifying compliance with trust instrument or fiduciary law.
This change record describes what was added, removed, or modified in the document. Analysis reflects what the updated agreement states or permits. It does not constitute a legal determination about enforceability. Applicability may vary by jurisdiction. Methodology
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