Open & Manage IOLTA Accounts
The Supreme Court of Texas has amended the IOLTA rules requiring Texas attorneys
to place IOLTA accounts at eligible financial institutions. If your financial institution
currently holds IOLTA accounts, and you would like to learn more about becoming
eligible, visit the Become Eligible section for
If your institution does not currently hold IOLTA accounts, please contact
Danielle Hassan at 512.320.0099, ext. 108, before opening IOLTA accounts.
You must acquire a bank code and a packet of instructions and forms from the Foundation
before qualifying for the eligibility process.
If your institution has been certified as eligible and it is determined that an
attorney or law firm must maintain an IOLTA account, the following steps should
be taken to open the account:
- The IOLTA account should be established in the name of the attorney or law firm
and be an interest-bearing trust account, such as a negotiable order of withdrawal
(NOW) account, with the interest earned paid to the Texas Access to Justice Foundation,
a 501(c)(3) nonprofit corporation. An incorporated law firm is permitted to use
an interest-bearing checking account (NOW account) as an IOLTA account.
- The tax identification number for all IOLTA accounts is that of the Foundation.
The Foundation is a tax exempt, nonprofit Texas corporation. All IOLTA accounts
are exempt from backup withholding because of the Foundation’s status as a
The tax identification number will not match the name on the account. Submit a substitute
W9 form to the Foundation for verification of the tax identification number. The
bank is not required to report to the IRS the interest earned on the IOLTA account
on behalf of the attorney or law firm.
- All IOLTA accounts should have the same closing date (or statement cycle) at the
end of the month.
- The IOLTA Notice to Financial
Institution form should be completed by the bank and attorney and returned to
the Texas Access to Justice Foundation via fax at 512.469.0112, or mail to P.O.
Box 12886, Austin, Texas 78711-2886. Banks should provide this form to all branches
to accommodate attorneys and law firms in establishing IOLTA accounts.
For more information on how to open an IOLTA account, please
email or call 512.320.0099, ext. 108.
Allowable reasonable fees are the only fees and service charges that may be deducted
by an eligible institution from interest earned on an IOLTA account. Allowable reasonable
fees may be deducted from interest or dividends on an IOLTA account only at the
rates and in accordance with the customary practices of the eligible institution
for non-IOLTA customers. No fees or service charges other than allowable reasonable
fees may be assessed against the accrued interest or dividends on an IOLTA account.
Any fees and service charges other than allowable reasonable fees shall be the sole
responsibility of, and may only be charged to, the attorney or law firm maintaining
the IOLTA account.
Closing IOLTA Accounts
An IOLTA account should only be closed when the attorney or law firm officially
closes the account. Once an account is designated as “closed” on the
IOLTA Remittance Report, it should not be listed on future reports.
March 3, 2017
New applicants for 2017 TAJF grants must submit a Letter of Intent to Apply -
By March 31
Feb. 17, 2017
Student Loan Repayment Assistance Program application process opens- Deadline March 27
Dec. 4, 2016
Return on Investment - A year-end snapshot
Nov. 4, 2016
Nov. 6-12 is Texas
Veterans Legal Aid Week
Oct. 25, 2016
TAJF Luncheon Kicks Off Pro Bono Week: ATJ Community Honors Legislative Heroes
Sept. 19, 2016
Carlos M. Zaffirini, Jr., Apppointed to TAJF Board of Directors
Sept. 14, 2016
Names 2016 Equal Justice Works Fellows
Aug. 22, 2016
Parenting Order Legal Line: Increasing Parenting Time for the Benefit of
- ABA Dialogue
Aug. 10, 2016
Legal aid groups aid to help poor families make smart decisions
July 8, 2016
Help for sexual assault survivors
- Corpus Christi Caller-Times
July 8, 2016
One reason so many veterans are homeless? They can't afford lawyers.
- Washington Post
June 6, 2016
Investing in Justice: Legal Aid for Survivors of Sexual Assault.
- Philanthropy Southwest
May 19, 2016
Undue process: Poor people lose homes, children and money without a lawyer
May 18, 2016
Military Sexual Assault Victims Discharged After Filing Complaints
May 9, 2016
Rape survivors on a mission to help others...
- Dallas Morning News
Apr. 6, 2016
Texas Legal Hotline Now Available
for Sexual Assault Survivors
Feb. 22, 2016
North East Texas Credit Union Joins Prime Partner Program
Dec. 16, 2015
Statement on Fed Funds
Rate Increase and Impact on IOLTA
Nov. 17, 2015
Western Bank Joins Prime Partner Program