|
Remittance Information
If your bank is not currently participating
in the IOLTA Program, please contact Janice
Cappiello via email, or call 512.320.0099, ext. 108.
Financial institutions may remit interest to the Texas Access to
Justice Foundation on a monthly or quarterly basis.
Monthly remittances are due 20 days following the end of the time period
reported.
Example: Interest earned between March 1 and March 31
should be remitted to the Foundation by April 20.
Quarterly remittances are calculated by calendar quarters.
| Quarter |
Time Period of Interest Earned |
Remit By |
| 1 |
Jan. 1 – Mar. 31 |
Apr. 20 |
| 2 |
Apr. 1 – Jun. 30 |
Jul. 20 |
| 3 |
Jul. 1 – Sept. 30 |
Oct. 20 |
| 4 |
Oct. 1 – Dec. 31 |
Jan. 20 |
Completing the IOLTA Remittance Report
Following are the steps required to complete the IOLTA Remittance Report:
- Complete the top portion of the report (including the Bank Code and
Time Period).
- Report the interest earned, service charges [links to Service Charges
in How to Open and Manage IOLTA Accounts sub section] and net paid for
each account. Accounts earning $0.0 interest must also be reported.
- Calculate and report the totals for interest earned, service charges
and net paid. The total interest earned less total service charges should
equal the total net paid. The total net paid should equal the amount
of your check to the Foundation.
- Report the interest rate or tiered rates and average balance. For
quarterly remittances, report the interest rate(s) and average balance
for the last month of the quarter.
- New and closed accounts should be designated by N (new) or C (closed)
in the far right column. All accounts must be accounted for on each
consecutive IOLTA remittance report, including any open accounts earning
$0.00 interest. Unless the account has been designated as closed on
the previous report, it should be listed.
- Send a check and the IOLTA Remittance Report to:
Texas Access to Justice Foundation
P. O. Box 201051
Houston, TX 77216-1051
- Report to the Foundation any errors in remittance as soon as possible.
Upon receipt of supporting documentation, refunds will be made for excess
payments.
To obtain an IOLTA Remittance Report, contact Janice
Cappiello, at 512.320.0099, ext. 108.
|
Recent News
May 5, 2008
Submit your mandatory IOLTA compliance
online beginning May 7
May 2, 2008
Make a $100 contribution to legal
aid when you pay your State Bar of Texas dues
April 14, 2008
Legal
Needs of FLDS Compound Residents Will Swamp Legal Aid
More news
|
