Jurisdiction Reference
New Hampshire IOLTA
Program: New Hampshire Bar Foundation IOLTA Program
New Hampshire Supreme Court Rule 50 generally requires nonexempt Bar members to maintain a pooled, interest-bearing IOLTA account for nominal or short-term client funds. The account must use an eligible federally insured New Hampshire depository, pay a comparable rate, remit earnings to the New Hampshire Bar Foundation, provide specified statements and negative-balance reporting, and be disclosed through annual electronic trust-account certification alongside the lawyer’s broader segregation, accounting, reconciliation, and safekeeping duties.
General information, not legal advice — always confirm against the official New Hampshire sources below.
Ask about New Hampshire's IOLTA rules
Deposits, reconciliation, reporting, recordkeeping — answered from New Hampshire's official sources. Not legal advice.
Quick reference
Plain-language summaries of common New Hampshire trust-accounting requirements. Use these to orient yourself, then verify the exact rule text through the official sources.
| Topic | Summary | Category |
|---|---|---|
| Mandatory pooled IOLTA unless exempt | A New Hampshire Bar member who is not within a Rule 50 exemption must create or maintain a pooled, interest-bearing IOLTA account in addition to any individual client trust accounts. | N.H. Sup. Ct. R. 50(1), (1)(F) |
| Nominal or short-term funds | Use IOLTA for client or third-party funds that are nominal in amount or expected to be held too briefly to justify a separate interest-bearing account for the owner. | N.H. Sup. Ct. R. 50(1) |
| Eligible insured depository | Establish IOLTA at a financial institution authorized to do business in New Hampshire, adequately federally insured, and providing withdrawal of principal on demand. | N.H. Sup. Ct. R. 50(1)(A) |
| Comparable interest rate | The depository must pay the same rate offered to comparable non-IOLTA customers, and the lawyer may seek a higher-yield option that preserves immediate withdrawal or transfer of principal. | N.H. Sup. Ct. R. 50(1)(B) |
| Client-benefit accounts | When funds can produce a practical net return for a client or third party, use an individual or pooled interest-bearing arrangement that credits that owner rather than IOLTA. | N.H. R. Prof. Conduct 1.15; Sup. Ct. R. 50 |
| Foundation enrollment and tax ID | Use the current enrollment form so the bank names the New Hampshire Bar Foundation as interest recipient and applies the Foundation’s taxpayer identification information. | NH Bar Foundation attorney guidance |
| Interest remittance and statements | Direct the bank to remit interest to the Foundation under current program instructions and send the required account, rate, and payment statements to the Foundation and lawyer or firm. | N.H. Sup. Ct. R. 50(1)(C) |
| Negative-balance notice | Authorize the institution to notify the New Hampshire Attorney Discipline Office whenever the trust account has insufficient funds or shows a negative balance. | N.H. Sup. Ct. R. 50(1)(C)(iv) |
| Annual electronic certification | Each covered lawyer must file the Trust Account Compliance Certificate electronically for the reporting year, listing required accounts or identifying the applicable exemption. | N.H. Sup. Ct. R. 50(1)(E); NHBA certification FAQ |
| Segregation and complete records | Keep client and third-party property separate, maintain an account index, journals, client ledgers, bank records, and regular reconciliations that trace every transaction. | N.H. R. Prof. Conduct 1.15; Sup. Ct. R. 50(2) |
| Advance fees, delivery, and disputes | Hold unearned advance fees and expenses in trust, promptly notify and deliver funds due, account on request, and retain disputed portions until resolution. | N.H. R. Prof. Conduct 1.15 |
| Closure and record retention | Before closing, resolve all client balances and outstanding items, complete a final reconciliation, notify required program parties, and retain trust-account records for the required period. | N.H. Sup. Ct. R. 50; ADO Trust Accounting Guidelines |
Official sources
The authoritative material for this jurisdiction. Confirm every requirement here before acting on it.
New Hampshire Supreme Court Rule 50 — Trust Accounts
Official Supreme Court rule order setting the IOLTA account, remittance, negative-balance reporting, certification, exemption, and record framework; check current amendments.
OpenNew Hampshire Attorney Discipline Office — Client Trust Accounting Guidelines
Current practical compliance guidance on account setup, titles, records, reconciliation, disbursement, and IOLTA enrollment.
OpenNH Bar Foundation — IOLTA Information for Attorneys
Program instructions for enrolling an account, remitting interest, negative-balance notice, and Foundation taxpayer information.
OpenNH Bar Association — IOLTA Certification FAQ
Current electronic Trust Account Compliance Certificate guidance, including common status, office, and account-reporting questions.
OpenNotes
- Rule 50 has been amended over time. Confirm the current consolidated rule, annual certificate instructions and due date, recognized exemptions, and current enrollment form before relying on older rule orders.
- Supreme Court Rule 50 and Professional Conduct Rule 1.15 control; Foundation and Attorney Discipline Office materials explain the operational steps but do not replace the rules.
- This page is general information, not legal advice. Direct specific questions to the New Hampshire Attorney Discipline Office, New Hampshire Bar Foundation, or qualified ethics counsel.
New Hampshire — Frequently asked
Common questions for New Hampshire trust accounts. General information only — verify against the official sources above.
Who must maintain a New Hampshire IOLTA account?
A New Hampshire Bar member who is not covered by a Rule 50(1)(F) exemption generally must create or maintain a pooled, interest-bearing IOLTA account for qualifying client or third-party funds.
Which lawyers may be exempt under Rule 50?
The rule identifies categories such as certain lawyers not in private practice, specified public or institutional roles, lawyers whose practice holds no IOLTA-eligible funds, and qualifying lawyers without a New Hampshire office or account. Apply the current text carefully.
Which funds belong in New Hampshire IOLTA?
Client or third-party funds that are nominal in amount or expected to be held for too short a period to justify a separate client-benefit account belong in the pooled IOLTA account.
What if funds can earn a net return for the client?
Use an individual or properly administered pooled interest-bearing account that credits the earnings to that client or third party when the expected return exceeds fees, administrative cost, and tax consequences.
Where may a New Hampshire IOLTA account be opened?
Rule 50 requires an institution authorized to do business in New Hampshire with adequate federal deposit insurance covering client funds and access to principal on demand. Confirm current treatment of credit unions and sweep products.
What interest rate should the IOLTA account receive?
The institution should pay the same rate offered to comparable customers with similar balances and products. A higher-yield option may be used if the principal remains immediately withdrawable or transferable.
How is a New Hampshire IOLTA account enrolled?
The lawyer and bank complete the current Bar Foundation enrollment form, identify the account properly, provide the Foundation taxpayer information, and authorize interest remittance and required reporting.
How often is IOLTA interest remitted?
Rule 50 requires remittance at least quarterly, while current Foundation enrollment guidance directs participating institutions to forward earned interest monthly. Follow the current program instructions and account agreement.
What account statements must the bank provide?
With each remittance, the bank reports the lawyer or firm, account number, rate, and payment information to the Foundation and provides the lawyer or firm the corresponding account, rate, and remittance report.
What happens after a negative balance or insufficient-funds event?
The institution sends notice to the Attorney Discipline Office as required by Rule 50. The lawyer should investigate immediately, protect other clients’ funds, correct any shortage, preserve documentation, and respond fully.
What is the annual Trust Account Compliance Certificate?
It is the electronic filing through which a covered lawyer reports the required trust accounts or identifies an applicable exemption for the reporting year. Use the current portal, instructions, and deadline.
Where do advance fees and expense deposits go?
Amounts that remain client property are deposited in trust until earned or incurred. Transfer only properly earned amounts, give any required notice or accounting, and keep support for every withdrawal.
What records should a New Hampshire lawyer keep?
Maintain an index of trust accounts, receipts and disbursements journals, individual client ledgers, bank statements and item images, deposit documentation, fee support, and regular three-way reconciliations.
May a lawyer disburse before a deposit is collected?
Avoid disbursing against provisional credit. Bank availability does not guarantee final collection, and a later reversal can create a shortage that uses unrelated clients’ funds.
How should a New Hampshire IOLTA account be closed?
Stop new deposits, identify every owner, resolve residual and disputed balances, allow outstanding items to clear, complete a final three-way reconciliation, notify the bank and Foundation as required, and retain the records.