Jurisdiction Reference
Missouri IOLTA
Program: Missouri Lawyer Trust Account Foundation IOLTA Program
Missouri Rules 4-1.145 through 4-1.155 and Rule 4-1.15 govern trust accounts. Nominal or short-term funds use IOLTA at an approved, overdraft-reporting and rate-comparable institution; Missouri also requires annual certification, good-funds controls, regular reconciliation, six-year records, and prompt handling of earned, disputed, and unclaimed funds.
General information, not legal advice — always confirm against the official Missouri sources below.
Ask about Missouri's IOLTA rules
Deposits, reconciliation, reporting, recordkeeping — answered from Missouri's official sources. Not legal advice.
Quick reference
Plain-language summaries of common Missouri trust-accounting requirements. Use these to orient yourself, then verify the exact rule text through the official sources.
| Topic | Summary | Category |
|---|---|---|
| Segregate all property of clients and third persons | Property held in connection with representation must remain separate from lawyer business and personal property in an approved client trust account. | Missouri Rule 4-1.15(a)-(b). |
| Use IOLTA for nominal or short-term funds | Unless exempt, establish an interest-bearing IOLTA for pooled funds that cannot generate net income for the client. | Rules 4-1.15(g), 4-1.145-4-1.155. |
| Use non-IOLTA accounts for client-benefit interest | Funds capable of earning net client income belong in a non-IOLTA trust account benefiting the client or third person. | Rules 4-1.145-4-1.155. |
| Use an approved and eligible institution | Every trust account must be at an institution approved by the Supreme Court Advisory Committee; IOLTA institutions must also satisfy Foundation eligibility. | Rules 4-1.15(a)(2), 4-1.145(a); Opinion 2020-23. |
| Require rate comparability | Eligible institutions must pay IOLTA rates comparable to similarly profiled non-IOLTA accounts. | Rule 4-1.145; MLTAF eligibility guidance. |
| Require overdraft reporting | Approved institutions report all trust-account overdrafts to the Office of Chief Disciplinary Counsel. | Rule 4-1.15(h); approved-institution rules. |
| Complete mandatory annual certification | Each lawyer certifies trust-account participation, account status, or a recognized exemption with the annual enrollment statement. | Rule 4-1.15(h); MLTAF certification guidance. |
| Open and change IOLTA using Foundation forms | Provide the Notice to Financial Institution and W-9 when opening IOLTA and return the completed notice to MLTAF; notify the Foundation of account changes or closure. | MLTAF Attorneys Forms and Rules. |
| Limit lawyer funds to necessary service charges | Lawyer funds may be deposited only to pay financial-institution service charges and only in the amount necessary; no general cushion is allowed. | Rule 4-1.15(b); Opinion 2020-13. |
| Deposit advance fees and expenses directly into trust | Client advances must go directly to trust, including credit-card advances; chargebacks and processor debits should come from operating funds. | Rule 4-1.15(c); ethics guidance. |
| Disburse only collected good funds | Do not disburse when there is reasonable cause to believe a deposit has not been collected; ten days is a rebuttable reasonable-period guide absent contrary notice. | Rule 4-1.15(a)(6), comment [5]; Opinion 2020-15. |
| Maintain ledgers and periodic reconciliation | Keep a register, individual client ledgers, bank records, and reconciliation records sufficient to account for every owner's balance and the account total. | Rule 4-1.15(a)(7), (f). |
| Retain trust records for six years | All required trust-account records, including final reconciliation, must be preserved for at least six years. | Rule 4-1.15(f); Opinion 2023-07. |
| Promptly distribute and properly handle unclaimed funds | Promptly deliver good undisputed funds; maintain disputed or unclaimed property in trust and follow Missouri unclaimed-property law after reasonable location efforts. | Rule 4-1.15(d); Formal Opinion 118. |
Official sources
The authoritative material for this jurisdiction. Confirm every requirement here before acting on it.
Supreme Court of Missouri — Rule 4-1.15 Materials
Official Missouri trust-account and IOLTA rule distinctions.
OpenMissouri Rule 4-1.15 IOLTA Provisions
Official account selection, remittance, certification, review, and exemption text.
OpenMissouri Lawyer Trust Account Foundation
Current IOLTA, approved-institution, certification, and lawyer-resource hub.
OpenMLTAF — Attorneys Forms and Rules
Official opening, W-9, notice, certification, and handbook instructions.
OpenMLTAF — What Is IOLTA
Official approved-bank, comparability, overdraft, cost, and program explanation.
OpenMissouri Legal Ethics Opinion 2023-07
Current official guidance on final reconciliation, closing, Foundation notice, and six-year retention.
OpenNotes
- Reviewed against Missouri Courts, MLTAF, and Office of Legal Ethics Counsel materials available July 14, 2026.
- Missouri's detailed current framework uses Rules 4-1.145 through 4-1.155 together with Rule 4-1.15; older handbook material should be cross-checked against them.
- This summary is educational and does not replace current Supreme Court rules, approved-bank lists, advisory opinions, or MLTAF instructions.
Missouri — Frequently asked
Common questions for Missouri trust accounts. General information only — verify against the official sources above.
What is Missouri IOLTA?
A pooled interest-bearing trust account for funds that cannot generate net income for the client or third person.
Who administers Missouri IOLTA?
The Missouri Lawyer Trust Account Foundation, or MLTAF.
Which funds belong in Missouri IOLTA?
Nominal or short-term funds whose attributable interest would be consumed by the cost of securing and accounting for it.
When should a Missouri client receive interest?
When the funds can earn net income, use an appropriate non-IOLTA trust account for that owner.
May any institution hold a Missouri trust account?
No. Every trust account needs an approved institution, and IOLTA also requires MLTAF eligibility.
What is rate comparability?
An eligible institution pays IOLTA a rate comparable to similarly profiled non-IOLTA accounts.
Are Missouri trust-account overdrafts reported?
Yes. Approved institutions report overdrafts to the Office of Chief Disciplinary Counsel.
What is Missouri's annual trust-account certification?
The lawyer reports IOLTA participation and account status or certifies a rule-based exemption with annual enrollment.
How is a new IOLTA opened?
Use MLTAF's Notice to Financial Institution and W-9 at an approved institution and return the completed notice to the Foundation.
Can lawyer funds serve as a trust-account cushion?
No. Only the amount necessary for service charges may be held and accurately tracked.
Where do advance fees paid by credit card go?
Directly into trust when unearned; processor debits and chargebacks should be directed to operating funds.
When may deposited funds be disbursed?
Only when reasonably believed collected. Ten days is a rule-comment guide, but facts may require longer or permit shorter.
How soon should earned fees be withdrawn?
Reasonably promptly after funds are good, the client is billed, and the client can dispute the disbursement; comment guidance treats one month as presumptively prompt.
What records must be maintained?
Registers, client ledgers, bank and deposit records, disbursement support, accountings, and reconciliation reports tracing every dollar.
How often should Missouri trust accounts be reconciled?
Regularly and at closure, using the bank, register, and client-ledger balances to confirm all funds are accounted for.
How long are records retained?
At least six years, including the final reconciliation.
What must happen before closing an account?
Complete a final reconciliation, distribute all funds appropriately, then notify MLTAF of closure and update certification.
What happens to disputed funds?
Keep the disputed portion in trust and promptly deliver undisputed amounts.
What happens to unclaimed funds?
Continue reasonable efforts to locate the owner, keep the property in trust, and follow Missouri's unclaimed-property process when applicable.
Why are approved institutions important?
They combine overdraft reporting, IOLTA rate comparability, and cost controls required by Missouri's trust-account system.