Trust Account Certification
The Idaho Rules of Professional Conduct require each active member of the Idaho State Bar to certify annually under penalty of perjury that he or she maintains a separate client trust account in the state of Idaho for client funds or that he or she handles no client funds because of the nature of his or her practice.
In addition to certifying the existence of such an account, as a condition for licensing attorneys are required to (1) identify the account number, account name and the name and address of the financial institution where it is maintained, and (2) authorize their financial institution to notify the Idaho State Bar of any overdraft or instrument presented against insufficient funds.
The Interest on Lawyers Trust Accounts (IOLTA) program allows attorneys to invest small or short-term deposits so that these otherwise idle funds may be pooled to generate interest money channeled to the Idaho Law Foundation, Inc. for use in law-related public interest programs. Idaho Rule of Professional Conduct (IRPC) 1.15 allows attorneys to "opt out" of IOLTA. Unless an attorney submits a written notice of declination to the Executive Director of the Idaho State Bar by February 1 with their annual licensing, a copy of the Trust Account Certification form will be delivered to the attorney's bank instructing the bank to convert the trust account to an interest bearing account with the interest, net of service charges, payable to the Idaho Law Foundation, Inc.
More Information
All active and house counsel members of the Idaho State Bar must complete a trust account certificate listing all of their Idaho client trust accounts. This certificate also acknowledges the attorney's participation in the Interest on Lawyers Trust Accounts (IOLTA) program and the Automatic Reporting of Trust Account Overdraft (ARTAO) requirement. A trust account certificate must be submitted as a part of the licensing requirements and a new one must be completed any time there is a change in the trust account information.
Frequently Asked Questions about Trust Accounts.
List of Idaho State Bar Approved Financial Institutions.
Please contact Annette Strauser if you have any questions about the trust account requirements or need a new trust account certificate.
If you have questions about the Interest on Lawyers Trust Accounts (IOLTA) program Click Here to view additional information or contact Carey Shoufler.
Click Here to get more information on Automatic Reporting of Trust Account Overdrafts (ARTAO). The Bar Counsel, Brad Andrews can answer any questions concerning the ARTAO requirements.
Rules governing trust accounts: Idaho Bar Commission Rule 302 and Idaho Rule of Professional Conduct 1.15 