When attorneys open new IOLTA accounts, a new account Enrollment Form should be sent to the IOLTA Board as soon as possible. This form communicates that a firm intends for a particular account to be a Pennsylvania IOLTA account and allows the IOLTA Board and financial institution to exchange the information required by the IOLTA rules and regulations.
When a law firm wishes to close a $0 balance IOLTA account, they can direct their financial institution to do so. The financial institution will report the date of closure electronically to the IOLTA Board in their regular monthly IOLTA reporting.
Pa.R.D.E. 221(q) addresses the financial accounts that must be provided when completing annual attorney registration. The Disciplinary Board makes information for attorneys available at padisciplinaryboard.org. Any questions regarding attorney registration can be directed to [email protected].