Banks Forms and Rules

Know the requirements

Banks Forms and Rules

An institution that wishes to become an Eligible Financial Institution to hold IOLTA accounts must complete the document Compliance Statement Document (30 KB)  and supply all requested information to the Foundation.

IOLTA accounts must earn the same interest rates generally available to similarly-situated non-IOLTA accounts at your institution. The Compliance Statement will serve to inform us as to how you choose to implement the interest rate parity and other provisions of the rule at your institution. Please note, the Compliance Statement requires additional supporting documentation and is subject to review and acceptance by the Missouri Lawyer Trust Account Foundation. However, there is no additional review or documentation requirement for financial institutions choosing the Federal Funds variable rate option.