Jurisdiction Reference
Wyoming IOLTA
Program: Equal Justice Wyoming Foundation IOLTA Program
Wyoming Rule of Professional Conduct 1.15 requires lawyers holding client or third-party funds to use a segregated, interest-bearing trust account at a federally insured institution located or having a branch in Wyoming and approved by the Wyoming State Bar. Funds that cannot produce net income for their owner may be pooled in IOLTA for the Equal Justice Wyoming Foundation; other funds use non-IOLTA treatment with interest allocated to the owners. Wyoming also prescribes account naming, lawyer-controlled withdrawals, prohibited cash and debit-card access, five-year records, at least quarterly reconciliation, annual certification, overdraft reporting, and disposition of unclaimed funds.
General information, not legal advice — always confirm against the official Wyoming sources below.
Ask about Wyoming's IOLTA rules
Deposits, reconciliation, reporting, recordkeeping — answered from Wyoming's official sources. Not legal advice.
Quick reference
Plain-language summaries of common Wyoming trust-accounting requirements. Use these to orient yourself, then verify the exact rule text through the official sources.
| Topic | Summary | Category |
|---|---|---|
| Segregated interest-bearing trust account | Hold client and third-party funds separate from lawyer funds in an interest-bearing trust account, with other property identified and safeguarded. | W.R.P.C. 1.15(a) |
| IOLTA versus non-IOLTA treatment | Use pooled IOLTA only for funds unable to earn income exceeding the costs of securing it; place all other funds in a non-IOLTA account for owner benefit. | W.R.P.C. 1.15(a)(1)-(2) |
| Net-return determination | Consider amount, duration and delay, available rates, account and tax costs, institutional capability, and other circumstances affecting net return. | W.R.P.C. 1.15(a)(1)(i) |
| Wyoming approved institution | Use a federally insured regulated institution located or having a branch in Wyoming and approved by the Bar; IOLTA also requires IOLTA-eligible status. | W.R.P.C. 1.15(a)(1)(ii), (b)(1) |
| Comparable rate, allowable fees, monthly remittance | IOLTA institutions pay the highest comparable rate, deduct only allowable reasonable fees, and remit net earnings monthly to Equal Justice Wyoming Foundation. | W.R.P.C. 1.15(a)(1)(iii) |
| Trust-account title and access | Maintain the account in the lawyer's or firm's name, clearly label it as a trust account, and ensure direct check-writing or disbursement capability. | W.R.P.C. 1.15(b)(5) |
| Controlled withdrawals and prohibited methods | No debit or ATM cards, cash withdrawals, or checks to cash; deposits stay intact and withdrawals use named payees under lawyer authorization or supervision. | W.R.P.C. 1.15(b)(4) |
| Limited lawyer funds | Deposit lawyer funds only to meet a required minimum deposit or pay bank service charges, and only in the amount necessary. | W.R.P.C. 1.15(c) |
| Advance fees and expenses | Deposit unearned legal fees and anticipated expenses in trust and withdraw them only as earned or incurred. | W.R.P.C. 1.15(d) |
| Notice, delivery, accounting, and disputes | Promptly notify and deliver property, provide a full accounting on request, hold disputed funds in trust, and distribute undisputed portions. | W.R.P.C. 1.15(e)-(f) |
| Five-year records and quarterly reconciliation | Maintain journals, client ledgers, bank and deposit records, transfer records, relevant file portions, and written reconciliation at least quarterly for five years. | W.R.P.C. 1.15(g) |
| Annual certification, overdrafts, and unclaimed property | Certify trust-account information annually, consent to overdraft reporting, and remit unclaimed trust property after reasonable efforts to the Client Protection Fund. | W.R.P.C. 1.15(b)(1), (i)-(j) |
Official sources
The authoritative material for this jurisdiction. Confirm every requirement here before acting on it.
Wyoming Rules of Professional Conduct — Rule 1.15
Official Wyoming court rules containing current safekeeping, IOLTA, account-management, recordkeeping, certification, and unclaimed-property provisions.
OpenWyoming State Bar — Trust Account Information
Official Bar overview with links to approved depositories, IOLTA-eligible institutions, and the trust-account handbook.
OpenWyoming State Bar — Trust Account Handbook
Official practical handbook explaining Wyoming trust-account setup, deposits, disbursements, ledgers, reconciliation, and IOLTA classification.
OpenWyoming State Bar — Trust Account FAQs
Official FAQs updated October 2025 covering out-of-state practice, non-IOLTA accounts, approved institutions, forms, and annual reporting.
OpenNotes
- Wyoming requires compliant trust accounting whenever covered funds are held, but permits either IOLTA or non-IOLTA treatment depending on whether interest is paid to EJWF or apportioned to the owners.
- A depository approved for lawyer trust accounts is not automatically IOLTA-eligible; an IOLTA institution must satisfy both the Wyoming State Bar and Equal Justice Wyoming Foundation requirements.
- This page is general compliance information, not legal advice. Confirm current requirements with the Wyoming State Bar, Equal Justice Wyoming Foundation, or qualified ethics counsel.
Wyoming — Frequently asked
Common questions for Wyoming trust accounts. General information only — verify against the official sources above.
Who needs a Wyoming lawyer trust account?
A Wyoming Bar member who receives client or third-party funds while providing legal services requiring Wyoming membership must maintain a compliant trust account. A member whose practice never receives such funds may certify that fact.
Must every Wyoming trust account be IOLTA?
No. A lawyer may maintain a non-IOLTA account, but its interest must be allocated among the clients and third parties who own the funds. The lawyer never keeps the interest.
Which funds are appropriate for IOLTA?
Use pooled IOLTA only for client or third-party funds that cannot earn income for the owner in excess of the costs incurred to secure that income while held.
How does a lawyer choose IOLTA or non-IOLTA?
Consider the amount, expected duration and possible delay, available rates, service and tax-reporting costs, lawyer administration, institutional capability, and any other fact affecting net return.
Where must the trust account be located?
The institution must be located in Wyoming or have a Wyoming branch, be federally insured, and be approved by the Wyoming State Bar as a lawyer-trust-account depository.
Is every approved trust depository IOLTA-eligible?
No. For IOLTA, the institution must also meet the Equal Justice Wyoming Foundation's IOLTA-eligible requirements. Check both current lists before opening or moving an account.
Who receives Wyoming IOLTA interest?
The financial institution remits net IOLTA earnings monthly to the Equal Justice Wyoming Foundation. Non-IOLTA interest belongs to the applicable clients or third parties.
How must an IOLTA institution handle rates and fees?
It must pay the highest rate offered to comparable customers, deduct only allowable reasonable IOLTA fees, and never take excess fees from client principal or another IOLTA account's earnings.
How should the account be titled and accessed?
The account must be in the lawyer's or firm's name, clearly designated as a trust account, and permit direct checks or disbursements.
Which withdrawal methods are prohibited?
Debit and ATM cards, cash withdrawals, and checks payable to cash are prohibited. Withdrawals must use authorized transfers or checks to named payees under a Wyoming lawyer's authorization or supervision.
Where do advance fees and anticipated expenses go?
Deposit legal fees not yet earned and expenses not yet incurred in trust. Withdraw them only as the fee is earned or the expense is incurred.
What records must be maintained and for how long?
Keep receipt and disbursement journals, individual client ledgers, bank and deposit records, canceled or voided checks, electronic-transfer details, relevant client-file portions, and reconciliations for five years after the representation ends.
How often must Wyoming trust accounts be reconciled?
Rule 1.15 requires a written reconciliation of the trust-account journal, client ledgers, and bank statements at least quarterly. More frequent reconciliation can reduce error-detection time.
What must a Wyoming lawyer certify annually?
With annual license fees, an active lawyer practicing in Wyoming certifies compliant account information or that the practice receives no covered funds, and provides the rule's required institution, account, date, consent, and signature information.
How are overdrafts, out-of-state accounts, and unclaimed funds handled?
Approved institutions report overdrafts to Bar Counsel. A qualifying out-of-state program account may comply only if the institution has an approved Wyoming branch. After reasonable efforts, unclaimed trust property goes to the Wyoming State Bar Client Protection Fund.