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New Lawyer Admittee Information

Congratulations on your admission to the Vermont Bar. Here’s what you need to know about IOLTA accounts.

In Vermont, all lawyers or law firms handling client funds must open an interest-bearing IOLTA account. Attorneys deposit into the IOLTA accounts client funds that are nominal in amount or are expected to be held for a short period of time. The Vermont Bar Foundation uses the interest generated on these accounts to support legal services for the disadvantaged and for public education relating to the courts and legal matters.

Interest rates at eligible institutions vary widely, so shop around for institutions offering attractive rates and fees. To enroll in Vermont’s IOLTA program, you will need to download the following forms:

Notice to Financial Institution (PDF) – File with your financial institution when the account is opened.

Notice of Compliance (PDF) – Complete and return to the Vermont Bar Foundation at: PO Box 1170, Montpelier, VT 05601-1170.

If you are with a firm that currently maintains an IOLTA account, or you are exempt from having a client trust account, you need only to complete the Notice of Compliance.

For assistance or additional information, please contact Deborah Bailey at 802-223-1400 or via email.

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