ARE YOU PREPARED TO COMPLETE YOUR MANDATORY TRUST ACCOUNT CERTIFICATION?
For 2009, all licensed attorneys must certify compliance with Supreme Court Rule 4-1.15 relating to trust accounts. Each attorney must provide information about the trust account(s) they use, or certify a valid exemption for not maintaining a trust account.
The full text of the exemptions is available in the Attorney Enrollment packet on the reverse side of the document describing the benefits of Fastcase online research, or can be found in Supreme Court Rule 4-1.15(i). Other general questions about the enrollment process can be directed to the Supreme Court Office of Attorney Enrollment 573-751-4144.
All trust accounts must now be established as interest-bearing IOLTA accounts, or non-IOLTA accounts. IOLTA accounts are pooled accounts where the interest earned on funds would not be sufficient to generate any net income to the client. This interest income is collected by the Missouri Lawyer Trust Account Foundation ("Foundation") and distributed in the form of grants to provide legal services to the poor and other law related services.
2009 Checklist for IOLTA account holders
• Ensure IOLTA account(s) is structured as interest-bearing
• Verify account(s) is placed in an approved financial institution (see “Financial Institutions”)
• The Tax Identification Number on all IOLTA accounts should be 43-1355525, the number for the Missouri Lawyer Trust Account Foundation (“MLTAF”)
• All IOLTA account information is provided to MLTAF through the 2009 attorney enrollment Mandatory Trust Account Certification process
• Any subsequent changes to trust account information is timely reported to the Foundation at 573-634-8117.
Should you have any questions about IOLTA accounts or the Missouri Lawyer Trust Account Foundation, please call the Foundation office at 573-634-8117, or email mltaf@moiolta.org.