Maryland Legal Services Corporation

Financial Institutions: MLSC has prepared forms for you to use to participate in the Interest on Lawyer Trust Accounts (IOLTA) Program. These forms are also included in the MLSC A Guide to the IOLTA Program for Financial Institutions.

Forms: Letter of Agreement | Remittance Statement | Honor Roll Enrollment | IOLTA Enrollment

1. Letter of Agreement. Before establishing IOLTA accounts, a financial institution must be approved by the Attorney Grievance Commission (1.800.492.1660) and must enter into an agreement with MLSC assuring that all requirements will be met. See Letter of Agreement between the financial institution and the Maryland Legal Services Corporation.

2. Remittance Statement. A monthly/quarterly Remittance Statement and copies of individual IOLTA enrollment forms should be prepared for each remittance showing the name of the lawyer or law firm for whom the remittance is sent, the account number, rate or interest applied, gross interest, any service charges or fees, the net amount remitted and the principle balance. Reports should be mailed to MLSC (15 Charles Plaza, Suite 102, Baltimore, MD 21201) or sent by email to rparker@mlsc.org.

3. Honor Roll Enrollment Form. Through an initiative of the Maryland State Bar Association and MLSC, our Honor Roll recognizes financial institutions paying net yield of 65 percent or more of the federal funds target rate on IOLTA deposits. To enroll in the Honor Roll program, please use the Honor Roll Enrollment Form.