Coogan Blocked Trust Accounts

In 1921 seven-year-old Jackie Coogan (1914-1984) became the world’s first child superstar and for he decades held the title of the youngest millionaire in history. At age 21, Jackie believed his fortune was well intact but soon learned that his mother and step-father had spent most of his earnings. Jackie had to sue them for what was left.

This court battle brought much attention upon child performers and provoked the State of California to enact The California Child Actors Bill in 1939. The new “Coogan Law” defines a minor’s earnings as their sole and separate property and requires employers to preserve 15% of gross compensation in trust until the age of majority (18).

Many states have followed California’s lead and enacted their own regulations.  To find out if a state requires a minor performer trust account visit our laws by state directory, choose your state and scroll down to ‘Coogan Account Required?”

Keep in mind that Coogan accounts DO NOT need to be open to begin shooting. However, the process must be started in good faith and must be completed by the 7th day of shooting.

For Coogan accounts Minor Performer Alliance recommends First Entertainment Credit Union and SAG-AFTRA Credit Union. We strongly advise against using major commercial banks like Chase, Bank of America or Wells Fargo. These banks are not suited to a product like a Coogan Account.