IOLTA News

NEWS

News for 2022 Grant Applicants

News for 2022 Grant Applicants

2023 GRANT APPLICANTS

The grant application deadline for the 2023 IOLTA Discretionary Grant Program was Friday, August 19, 2022. 

Shortly after the application deadline, the Fund begins the process of evaluating all requests for grants.  Final decisions for 2023 grants will be made in late November. All applicants, successful and unsuccessful, will be notified of the Board’s decision by December 2, 2022.

The grant application package for the New Jersey IOLTA Discretionary Grant program for the calendar year 2024 will be posted to our website for download late June 2023.

 

ACCOUNT OPENING PROCEDURES FOR A NEW TRUST ACCOUNT

ACCOUNT OPENING PROCEDURES FOR A NEW TRUST ACCOUNT

All new attorney trust accounts should be opened as non-interest bearing checking accounts. Please instruct the attorney or law firm to call IOLTA to request registration forms.

If it seems too good to be true, it usually is

If it seems too good to be true, it usually is

New Jersey attorneys should be alert to scams involving attorney trust accounts.

About NCUA Insurance on Attorney Trust Accounts

About NCUA Insurance on Attorney Trust Accounts

On December 18, 2014, President Obama signed into law the Credit Union Share Insurance Fund Parity Act creating deposit insurance parity for credit unions by directing the National Credit Union Administration to extend share insurance coverage to trust accounts such as IOLTA and other similar accounts.

NCUA INSURANCE COVERAGE OF TRUST ACCOUNT DEPOSITS

NCUA INSURANCE COVERAGE OF TRUST ACCOUNT DEPOSITS

On December 18, 2014, President Obama signed into law the Credit Union Share Insurance Fund Parity Act creating deposit insurance parity for credit unions by directing the National Credit Union Administration to extend share insurance coverage to trust accounts such as IOLTA and other similar accounts. While new rules have not been published yet, the Act was effective immediately. Credit unions must first be approved by the Office of Attorney Ethics before offering attorney trust accounts to law firms.

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CONTACT US

The IOLTA Fund of the Bar of New Jersey
One Constitution Square
New Brunswick, NJ 08901-1520
E-mail: info@ioltanj.org
Phone: 732-247-8222