Depositor will participate in the:
( 1 ) The depositor's IOLTA/IOTA account is to be established at an “eligible institution” as determined by the Connecticut Bar Foundation (a listing can be found here). The account shall be maintained as an interest-bearing checking account or an investment product which is a daily (overnight) financial institution repurchase agreement or an open-end money-market fund.
( 2 ) Most banks waive service charges in Connecticut. If not waived, any service charges must be limited to “allowable reasonable fees” as defined in the Connecticut Practice Book, Rule 1.15 effective January 1, 2020 or the amount of interest which has accrued in the depositor's IOLTA/IOTA account, whichever is less.
( 3 ) All accrued interest shall be remitted to the Connecticut Bar Foundation, together with a statement indicating the name of depositor, account number, average principal balance for the period reported, amount of interest accrued, interest rate, and amount of service charge (if any) deducted in accordance with the institution’s standard accounting practices.
( 4 ) The taxpayer I.D. number for all IOLTA/IOTA accounts is #06-6079763.
( 5 ) Accrued interest shall be remitted to the Foundation’s account by ACH transfer or by check mailed to:
The Connecticut Bar Foundation 31 Pratt Street, Suite 420
Hartford, CT 06103
( 6 ) Depositor hereby agrees that it shall have sole responsibility for determining what funds shall be deposited to the following IOLTA/IOTA account:
You will receive a confirmation email after submitting this form. Please save it for your records.