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 Report | Honor Roll Enrollment | IOLTA Enrollment

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

2. Remittance Report. A monthly/quarterly Remittance Report and copies of individual IOLTA enrollment forms should be prepared showing the name of the lawyer or law firm for whom the remittance is sent, the account number, the collected average monthly balance, the rate of interest applied, gross interest, any service charges assessed and the net amount remitted for the account. Reports must be submitted electronically by e-mail to iolta@mlsc.org or mailed on disc to MLSC (15 Charles Plaza, Suite 102, Baltimore, MD 21201).

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.

4. IOLTA New Account Enrollment Form: To establish IOLTA accounts, use the Notice of New IOLTA Account - IOLTA Enrollment Form.