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BankersOnline.com Forums State-Specific Compliance Issues Minnesota IOLTA Account Reporting
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#2265276 - 01/26/22 08:05 PM IOLTA Account Reporting
CSB98 Offline
Diamond Poster
Joined: Dec 2003
Posts: 1,383
Wisconsin
Does anyone have procedures they'd be willing to share on how to report IOLTA accounts? In the midst of turnover the past few years, this has been overlooked and not completed. We reached out to the State but they are extremely backlogged and not sure when we'll receive a response.

Thanks!

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#2265352 - 01/27/22 06:54 PM Re: IOLTA Account Reporting CSB98
Happy Birthday RR Sarah Offline
Power Poster
RR Sarah
Joined: Mar 2004
Posts: 2,514
Up North
Did you check out this site? Do you have more than 10 IOLTA accounts?

https://www.mncourts.gov/SupremeCourt/Minnesota-IOLTA-Program.aspx
_________________________
Sometimes you have to burn a few bridges to keep the crazies from following you.

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#2265455 - 01/28/22 09:19 PM Re: IOLTA Account Reporting CSB98
CSB98 Offline
Diamond Poster
Joined: Dec 2003
Posts: 1,383
Wisconsin
Yes, I did look, there and there wasn't much guidance. The State got back to us and gave us the information that we needed.

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#2267144 - 03/03/22 03:17 PM Re: IOLTA Account Reporting CSB98
CSB98 Offline
Diamond Poster
Joined: Dec 2003
Posts: 1,383
Wisconsin
What about MN Real Estate Trust Accounts? Anyone have a resource for reporting on these?

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