Under the amendments to Rule of Professional Conduct 1.15 effective September 1, 2024, Massachusetts lawyers must transfer unidentified and unclaimed funds in IOLTA accounts to the IOLTA Committee.
- Prior to submitting any funds lawyers should review the following:
- Amended Rules and Procedures for Unclaimed and Unidentified IOLTA Funds Video Presentation by Dorothy Anderson, Office of Bar Counsel, and Jenna Miara, Massachusetts IOLTA Committee Excecutive Director.
- After reviewing the above information and to submit unclaimed or unidentified funds to the IOLTA Committee in accordance with Rule 1.15 please:
- Determine whether in the preceding 12 months, including the funds to be remitted with the current affidavit, the attorney has transferred $500 or less or more than $500 to the IOLTA Committee. [When you access the remittance portal below, there are two different reporting areas depending on the total amount remitted in the last 12 months, including the current transaction.]
- Have the attorney’s BBO number and information about the IOLTA account involved handy, including the name of the IOLTA account, bank name and address, routing number, account number, and the approximate date of account opening and closing (if closed).
- Know the approximate date you discovered the funds were unclaimed or unidentified.
- Assemble all the information and supporting documentation you have regarding the funds and efforts to identify the owner of the funds or to locate the owner and remit the funds. For unclaimed funds you will also need information regarding each owner of the funds, including the last known mailing address, phone number, date of birth (if known), and amount belonging to that owner.
- Important: Before starting, please add to your safe sender list the following email address so that you are sure to receive the required one time password (OTP): no-reply@udfportalmaiolta.org.
- When you are ready, enter the UNCLAIMED AND UNIDENTIFIED FUNDS REMITTANCE PORTAL below. Note that your progress cannot be saved. Be prepared to complete the affidavit and the electronic funds transfer in a single session. Please double check your IOLTA account number before entering as there is no automatic validation.
If you have any questions about the portal or have any difficulty submitting your information or completing the electronic funds transfer, please contact us using the information below. Thank you.