Lawyers’ Trust Accounts Board Helping to Secure Equal Access to Justice
Frequently Asked Questions
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Effective June 29, 2018, Pennsylvania Rule of Professional Conduct 1.15(v) requires lawyers and law firms to remit unclaimed or unidentifiable IOLTA Funds to the IOLTA Board following reasonable efforts to identify or locate the owner of funds for a minimum of two years.
Effective June 29, 2018, Pennsylvania Rule of Professional Conduct 1.15(v) requires lawyers and law firms to remit unclaimed or unidentifiable IOLTA Funds to the IOLTA Board following reasonable efforts to identify or locate the owner of funds for a minimum of two years. If at any time thereafter, the owner of the funds is identified and/or located, the funds remitted to the IOLTA Board may be reclaimed.
A Remittance Report & Certification must be completed and sent to the IOLTA Board along with a check made payable to the Pennsylvania IOLTA Board in the amount of the Unclaimed and/or Unidentifiable funds.
If you are a lawyer requesting the return of funds you previously transferred to the IOLTA Board in order to reunite them with their rightful owner, you must complete a Lawyer Fund Return Request. If you are an owner/claimant requesting the return of your funds and your former lawyer is not available to assist you, you must complete an Owner Claim Request. IOLTA staff will review the claim form and will advise you if additional information is needed to process your claim. Please understand that your claim cannot be processed until we receive all the necessary information.
Instructions describing the information and supporting documentation required to be submitted are provided on both the Lawyer Fund Return Request (used by a lawyer claiming funds previously submitted to the IOLTA Board for the purpose of returning them to their rightful owner per Pa. R.P.C. 1.15(v)(2)) and the Owner Claim Request (for unassisted owners whose lawyer is no longer available to assist them). If additional information is required following receipt of your claim, the IOLTA Board will contact you directly. Please note that your claim cannot be processed until we receive all the necessary information.
No, there is no cost involved. The IOLTA Board will search all the Unclaimed and Unidentifiable fund records received by the IOLTA Board from Pennsylvania attorneys on your behalf.
Conservators appointed pursuant to Pa. R.D.E. 321 should follow Pa. R.D.E. 324(c)(1) with respect to any Unidentifiable funds.