These agreements are usually entered into by public bodies or companies to manage different benefit programmes. Financial and business conditions Each custodian bank often has its own form of DACA, although the above elements are common to each form. The DAC is under discussion and negotiation. Therefore, borrowers and lenders should be aware that it may take some time before a DACA is agreed and signed by all parties for the lender to enjoy a perfect security interest on a deposit account. Under such an agreement, a custodian bank may be required to notify the Internal Revenue Service of any distribution of the accounts or assets it supervises. However, it is not necessarily the duty of the depositary to explain why the distribution was made. .