ARE YOU PREPARED TO COMPLETE YOUR MANDATORY TRUST ACCOUNT CERTIFICATION?
Each year, 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 available exemptions can be found as an insert in the Attorney Enrollment packet, or can be found in Supreme Court Rule 4-1.15(l). If you need further assistance related to the trust account certification, you may call (573) 634-8117. 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.
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 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 firstname.lastname@example.org.