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 large amounts held for a short period of time. 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.

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 large amounts held for a short period of time. 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.

FOR ATTORNEYS

Frequently Asked Questions

FOR FINANCIAL INSTITUTIONS

Frequently Asked Questions

WHERE DOES THE MONEY GO?

See what our grantees are doing

ELIGIBLE INSTITUTIONS

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. Additional changes in the operation of IOLTA accounts were adopted in December, 2008.

Effective February 1, 2009, all Massachusetts attorneys may only deposit their IOLTA funds in financial institutions that have been certified to meet new requirements.

Please visit our List of Approved IOLTA Depositories to insure your accounts are maintained at an eligible institution.

As of July 1, 2017:

  • The Leadership Bank interest rate is 1.00%
  • The Safe Harbor interest rate is 0.75%

IN THE NEWS

MAIOLTA.ORG

The Massachusetts IOLTA Committee
Seven Winthrop Square, 3rd Floor 
Boston, MA 02110-1245

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