Important Notice to Massachusetts Attorneys:
Pursuant to a July 26, 2006 order of the Supreme Judicial Court, financial institutions must be certified by the IOLTA Committee to be eligible to hold IOLTA funds. Effective January 1, 2007, all Massachusetts attorneys may only deposit their IOLTA funds in certified financial institutions.
Please
visit our List of Approved
IOLTA Depositories to insure your accounts are maintained at an
eligible institution.
Information For Financial Institutions
"Interest on Lawyers' Trust Accounts," or IOLTA, is a program mandated by the Supreme Judicial Court. It requires lawyers and law firms to establish interest-bearing accounts for client deposits which are nominal in amount or expected to be short-term. This site is designed to provide information about what the committee does, to provide lawyers information for opening an IOLTA account, and provide banks information for setting up, maintaining, and reporting on IOLTA accounts.
REVISED IOLTA GUIDELINES: July 26, 2006 IOLTA Guidelines