(a) Filing of Inventory and Periodic Accounts. Every receiver and trustee in liquidation appointed by the court shall, within three months after appointment, file with the Clerk of the Superior Court a just and true inventory, under oath, of the whole estate committed to the appointee’s care, and of the manner in which the funds under the appointee’s care, belonging to the estate, are invested, stating the income of the estate, and the debts contracted and expenditures made on account thereof. The appointee shall on each April 1 and October 1 thereafter, so long as any part of the estate, or of the income or proceeds thereof, remains to be accounted for, file with the Clerk of the Superior Court an account, under oath, of the amount remaining or invested, and of the manner in which the same is invested. The accountant shall be charged with the balance shown in the last previous account (or with the amount of the inventory in the case of a first accounting) and with all amounts collected in addition thereto; state the expenditures and other credits and the balance remaining and the manner in which the same is invested; and set forth all changes (either by way of addition or diminution or change of form) in the assets with which the accountant is charged which have occurred during the period covered by the account.
Rule 4:53-7.Inventory and account; audit
Last amended September 1, 2004 · Current through June 18, 2026 · Last verified July 7, 2026
In one sentenceRule 4:53-7 requires a receiver or liquidating trustee to file a sworn inventory within three months of appointment and a sworn account every April and October after, subject to audit by the clerk or a court-appointed countersignatory.
Full Text of Rule 4:53-7
(b) Audit by Clerk; Countersignatory. The deputy clerk of the Superior Court shall audit the account of the receiver or trustee unless the court appoints a countersignatory to make the audit. An appointed countersignatory shall also countersign the checks of the receiver or trustee, keep a record of the purpose of each check, obtain a duplicate monthly bank statement of all checking accounts in the receiver’s name, and shall be allowed, except in special circumstances a fee for services not exceeding that allowed by law to the clerk or surrogate for auditing fiduciaries’ accounts.
(c) Duties of Fiduciary’s Attorney. The attorney authorized by court order to represent a receiver or trustee in liquidation and the clerk of the court shall report to the court in writing any failure of the fiduciary to file the inventory or account in accordance with this rule. The account shall be settled in accordance with R. 4:87 on proceedings in the action in which the receiver or trustee was appointed.
(d) Order Approving Account. The order approving the account shall make a finding that the continuance of the receivership or trusteeship is necessary and shall continue it for a fixed period; but when a final account is approved by order, the order shall provide for the discharge of the fiduciary.
Amendment History
New Jersey publishes each rule’s amendment record in a “History” note beneath the rule. It is reproduced verbatim below; the “R.R.” citations refer to the former Revised Rules numbering the current rules replaced.
Source-R.R. 4:68-8(a)(b)(c)(d)(e); paragraph (b); amended July 15, 1982 to be effective September 13, 1982; paragraphs (a), (b) and (c); amended July 13, 1994 to be effective September 1, 1994; paragraphs (a) and (b); amended June 28, 1996 to be effective September 1, 1996; paragraph (a); amended July 28, 2004 to be effective September 1, 2004.
Plain-English Summary
A receiver or liquidating trustee's stewardship of an estate is tracked on a fixed calendar. Within three months of appointment, the fiduciary files a sworn inventory of the whole estate and how its funds are invested; after that, a sworn account follows every April 1 and October 1, showing what's been collected and spent and how the remaining balance is invested.
Those accounts get checked, too — audited by the deputy clerk unless the court appoints a countersignatory to do it, who also countersigns the fiduciary's checks and keeps records of each one's purpose. The fiduciary's own attorney and the clerk have to report any failure to file on time, and once a final account is approved, the order discharges the fiduciary from further duty.
Frequently Asked Questions
How often must a New Jersey receiver file an accounting?
A sworn inventory within three months of appointment, then a sworn account every April 1 and October 1 while any part of the estate remains to be accounted for.
Who audits a receiver's account?
The deputy clerk of the Superior Court, unless the court appoints a countersignatory to do the audit instead.
Source & verification. The rule text and amendment history are reproduced verbatim from the
official New Jersey Rules of Court (N.J. Ct. R. 4:53-7). Prescribed by the Supreme Court of New Jersey (N.J. Const. art. VI, § 2, ¶ 3). The plain-English summary is original and written by us. Last verified July 7, 2026. ·
Official source
Also known as: receiver accountingreceivership inventory