Easy IOLTA Enrollment

IOLTA Trust Account Enrollment is as easy as ONE TWO THREE

All lawyers or law firms handling client or third party funds are required  to open an interest-bearing IOLTA trust account.  Enrollment takes just three easy steps:

ONE: Complete and print the IOLTA Compliance Statement for each IOLTA trust account that will be established or existing trust account to be converted to IOLTA.

TWO: Open an IOLTA trust account or accounts with an eligible financial institution.

THREE: Mail, fax, or email a signed copy of the completed IOLTA Compliance Statement* to:

The Oklahoma Bar Foundation IOLTA Office
P O Box 53036
Oklahoma City OK 73152-3036

Fax: (405) 416-7089.

Scanned forms may be e-mailed to foundation@okbar.org.

* Please remember to report new accounts, closed accounts, and all other such trust account modifications and changes to the Oklahoma Bar Association (OBA) with 30 days of the modication. Trust account changes are to be reported contemporaneously and reporting requirements may be found in Rule 1.15 to the Oklahoma Rules of Professional Conduct. The pertinent language is:

“g)  Effective January 1, 2009, all members of the Bar who are required under the Oklahoma Rules of Professional Conduct, to maintain a trust account for the deposit of clients’ funds entrusted to said lawyer, shall do so and furnish information regarding said account(s) as hereinafter provided.  Each member of the Bar shall provide the Oklahoma Bar Association with the name of the bank or banks in which the lawyer carries any trust account, the name under which the account is carried and the account number.  The lawyer or law firm shall provide such information within thirty (30) days from the date that said account is opened, closed, changed, or modified.  The Oklahoma Bar Association will provide on-line access and/or paper forms for members to comply with these reporting requirements. Provision will be made for a response by lawyers who do not maintain a trust account and the reason for not maintaining said account.  Information received by the Association as a result of this inquiry shall remain confidential except as provided by the Rules Governing Disciplinary Proceedings.  Failure of any lawyer to respond giving the information requested by the Oklahoma Bar Association, Oklahoma Bar Foundation or the Office of the General Counsel of the Oklahoma Bar Association will be grounds for appropriate discipline.”

OBA Trust Account Reporting Form