Jurisdiction Reference
Ohio IOLTA
Program: Ohio Access to Justice Foundation IOLTA Program
Ohio lawyers who receive client or third-party funds must safeguard them under Prof.Cond.R. 1.15 and Ohio's IOLTA statute. Nominal or short-term funds belong in an IOLTA at an eligible participating institution; funds capable of earning net income for a client should be placed in a separate interest-bearing trust account for that client. Ohio also requires accurate records, collected-funds discipline, account registration and prompt updates.
General information, not legal advice — always confirm against the official Ohio sources below.
Ask about Ohio's IOLTA rules
Deposits, reconciliation, reporting, recordkeeping — answered from Ohio's official sources. Not legal advice.
Quick reference
Plain-language summaries of common Ohio trust-accounting requirements. Use these to orient yourself, then verify the exact rule text through the official sources.
| Topic | Summary | Category |
|---|---|---|
| Use a clearly identified client trust account | Hold client and third-party funds separate from the lawyer's own property in an account titled as a client trust account, IOLTA, or with another designation that clearly identifies its fiduciary character. | Ohio Prof.Cond.R. 1.15(a); R.C. 4705.09 |
| Maintain an IOLTA when client funds are received | A lawyer who receives client funds must establish and use an Ohio IOLTA unless the funds should earn net income for an individual client. A lawyer or firm that never receives or disburses client funds and maintains no Ohio trust account may qualify for an exemption. | Ohio Prof.Cond.R. 1.15(a), (f); ODC IOLTA guidance |
| Place nominal or short-term funds in IOLTA | Deposit funds that are nominal in amount or expected to be held only briefly into IOLTA after considering the amount, expected duration, available rates, account costs, and the practical cost of calculating and distributing income. | Ohio Prof.Cond.R. 1.15(f) |
| Use a separate account when the client can earn net income | Place funds large enough or held long enough to earn net income for a client in a separate interest-bearing trust account for that client's benefit, not in IOLTA. | Ohio Prof.Cond.R. 1.15; ODC IOLTA FAQ |
| Choose an eligible participating institution | Maintain IOLTA at a bank, savings and loan, credit union, or savings bank authorized to do business in Ohio, federally insured where applicable, and participating in the Ohio IOLTA program. | R.C. 4705.09; Ohio Access to Justice Foundation guidance |
| Use the required account name and program EIN | Title the account in the lawyer's, law firm's, or legal professional association's name and include IOLTA or Interest on Lawyer's Trust Account. Provide the Ohio IOLTA program EIN, 31-1126612, for interest reporting. | R.C. 4705.09; Ohio Access to Justice Foundation lawyer guidance |
| Limit the lawyer's own funds in trust | Deposit personal funds only in the amount reasonably necessary to pay bank service charges or maintain a permitted fee waiver; do not use the trust account as an operating account. | Ohio Prof.Cond.R. 1.15(b) |
| Keep unearned fees and advances in trust | Deposit advance fees and expenses into trust and withdraw them only as fees are earned or expenses incurred, subject to any written fee agreement and applicable rule. | Ohio Prof.Cond.R. 1.15(c) |
| Maintain complete client-level records | Keep current records identifying each client's funds, all receipts and disbursements, the purpose and payee of every transaction, and the running balance attributable to each client or matter. | Ohio Prof.Cond.R. 1.15(a); ODC trust-account guidance |
| Disburse only collected funds | Do not issue or release trust funds until the deposit has actually cleared and the funds are collected. Never post-date an IOLTA check to anticipate future availability. | ODC IOLTA FAQ and trust-account guidance |
| Notify, deliver, and account promptly | Promptly notify the client or third person when funds are received, deliver funds or property they are entitled to receive, and provide a full accounting on request. | Ohio Prof.Cond.R. 1.15(d) |
| Protect disputed funds | When two or more persons claim an interest in funds, keep the disputed portion separate until the dispute is resolved while promptly distributing any undisputed portion. | Ohio Prof.Cond.R. 1.15(e) |
| Register accounts and report changes promptly | Report every Ohio IOLTA or IOTA account through Supreme Court attorney registration and promptly update the Attorney Portal and Ohio Access to Justice Foundation when an account is opened, closed, or changed. | Gov.Bar R. VI; Ohio Access to Justice Foundation guidance |
| Retain trust records for seven years | Preserve the account records required by Rule 1.15 for seven years following termination of the representation or the applicable final disbursement event, and keep them available for disciplinary review. | Ohio Prof.Cond.R. 1.15(a); ODC IOLTA FAQ |
Official sources
The authoritative material for this jurisdiction. Confirm every requirement here before acting on it.
Ohio Office of Disciplinary Counsel — IOLTA
Official overview of who must maintain IOLTA, exemptions, and eligible financial institutions.
OpenOhio Office of Disciplinary Counsel — IOLTA FAQ
Official practical guidance on account use, collected funds, multiple accounts, estate funds, records, and account titles.
OpenOhio Access to Justice Foundation — IOLTA/IOTA for Lawyers
Official program instructions covering account setup, naming, EIN, eligible institutions, and reporting changes.
OpenOhio Access to Justice Foundation — IOLTA/IOTA for Banks
Official financial-institution requirements for account naming, rates, and remittance.
OpenOhio ODC — Managing Client Files and Trust Accounts
Supreme Court-hosted disciplinary guidance on opening, administering, registering, and retaining trust-account records.
OpenSupreme Court of Ohio — Lawyer-to-Lawyer Mentoring Course Outlines
Official course materials addressing trust-account registration, negative balances, and record retention.
OpenNotes
- Ohio distinguishes lawyer IOLTA accounts from title-agent IOTA accounts. Use the correct program label, account title, and registration pathway for the professional role.
- Ohio account reporting is not limited to initial setup: lawyers should keep Supreme Court attorney-registration data and Ohio Access to Justice Foundation records current when an account opens, closes, or changes.
- Ohio sources emphasize accurate client ledgers, collected-funds discipline, and seven-year retention. A regular three-way reconciliation is a prudent control even where a specific monthly cadence is described as practice guidance rather than the text of the governing rule.
Ohio — Frequently asked
Common questions for Ohio trust accounts. General information only — verify against the official sources above.
Who must maintain an Ohio IOLTA?
A lawyer who receives or disburses client or third-party funds in connection with an Ohio practice generally must maintain or use a compliant trust account and place nominal or short-term funds in IOLTA.
When can an Ohio lawyer claim an IOLTA exemption?
Generally when neither the lawyer nor the firm receives or disburses client funds and no Ohio client trust account is maintained. The status should be reported accurately through attorney registration.
Which funds belong in Ohio IOLTA?
Funds too small or held too briefly to earn net income for the individual client after considering interest, fees, administrative cost, and expected holding time.
What happens to funds that could earn net income for a client?
They should be placed in a separate interest-bearing trust account for that client, with the net income credited to the client.
Who receives the interest on Ohio IOLTA?
The financial institution remits IOLTA interest through Ohio's program for access-to-justice purposes; the lawyer and client do not receive it.
Where may an Ohio IOLTA be opened?
At an eligible participating financial institution authorized to do business in Ohio and meeting the program's insurance and participation requirements.
How should the account be titled?
Use the lawyer, firm, or legal professional association name plus IOLTA, Interest on Lawyer's Trust Account, client trust account, or another unmistakably fiduciary designation consistent with Ohio requirements.
What tax identification number should the bank use?
Ohio Access to Justice Foundation instructs institutions to use the program EIN 31-1126612 for Ohio IOLTA interest reporting, not the lawyer's personal taxpayer number.
May a lawyer keep personal money in IOLTA?
Only the limited amount reasonably necessary for bank service charges or an allowable fee-waiver arrangement. Operating or personal funds otherwise must remain separate.
Where do advance fees and cost deposits go?
Ordinarily into trust until the fee is earned or the expense is incurred, unless a valid rule and written fee arrangement provide otherwise.
Can an Ohio lawyer have more than one IOLTA?
Yes. Ohio guidance recognizes multiple accounts, although one account is often simpler unless practice needs justify more.
Must every client have a separate bank account?
No. One pooled IOLTA can hold funds for many matters, but the lawyer must maintain a separate ledger and accurate balance for each client or matter.
Can estate funds be placed in IOLTA?
Ohio guidance generally favors a separate estate account. R.C. 2109.41 may permit nominal or short-term estate funds in IOLTA after consultation with the fiduciary; the lawyer should analyze the fiduciary context carefully.
What is the difference between IOLTA and IOTA in Ohio?
IOLTA applies to lawyers' trust accounts. IOTA is the related program for title agents or title insurance agents; the labels and registration path should match the account holder's role.
When may a lawyer disburse a recent deposit?
Only after the funds are collected and available under the bank's actual clearing process. Apparent account credit is not always final collection.
May an Ohio lawyer post-date an IOLTA check?
No. Ohio disciplinary guidance warns against post-dating a trust-account check to anticipate funds that have not cleared.
What must happen when ownership of funds is disputed?
Keep the disputed amount in trust until the parties resolve the dispute or a court determines entitlement, while promptly paying any undisputed amount.
How long must Ohio trust-account records be kept?
Seven years under the Ohio rule and disciplinary guidance, measured from the rule's applicable representation-termination or disbursement event.
How are Ohio trust accounts reported?
Report the account during attorney registration and promptly update the Supreme Court Attorney Portal and the Ohio Access to Justice Foundation when the account status changes.
What should a lawyer do if an account goes negative?
Investigate immediately, restore any improper shortage as required, preserve records, and respond to the financial institution or disciplinary authority. Ohio's overdraft-reporting system can bring negative balances to disciplinary counsel's attention.