New Lawyer Admittee Information

Congratulations on your admission to the Vermont Bar—and welcome to the legal community. Below is what you need to know about Interest on Lawyers’ Trust Accounts (IOLTA) in Vermont.

IOLTA Requirements in Vermont

In Vermont, all attorneys or law firms that handle client funds are required to maintain an interest-bearing IOLTA account.

IOLTA accounts are used to hold client funds that are:

Nominal in amount, or
Expected to be held for a short period of time

When these funds cannot practically earn interest for an individual client, the interest generated is directed to the Interest on Lawyers’ Trust Accounts (IOLTA) Program.

In Vermont, IOLTA funds are administered by the Vermont Bar Foundation, which uses this funding to support civil legal services for low-income and underserved Vermonters, as well as public education related to the courts and legal system.

Choosing a Financial Institution

Interest rates and fee structures on IOLTA accounts vary significantly by financial institution. Choosing a bank or credit union that offers competitive IOLTA rates directly increases the funding available for civil legal aid across the state.

The Vermont Bar Foundation encourages attorneys to consider financial institutions participating in—or interested in—the IOLTA Leadership Bank program, which promotes strong interest rates and consistent support for access to justice.

Enrolling in Vermont’s IOLTA Program

To enroll in the Vermont IOLTA program, please complete the following forms:

Notice-to-Financial-Institution
File this form with your financial institution when opening your IOLTA account.
Notice-of-Compliance
Complete and return this form to the Vermont Bar Foundation.

If you are joining a firm that already maintains an IOLTA account, or if you are exempt from maintaining a client trust account, you are only required to complete the Notice of Compliance.

Questions or Need Assistance?

For help setting up an IOLTA account or for additional information, please contact:

Hannah King
Executive Director, Vermont Bar Foundation
802-223-1400

New Lawyer Admittee Information