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#1261607 - 10/05/09 03:21 PM CTR on IOLTA
Jalen Offline
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Jalen
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Does a CTR need filed when multiple attorney offices have made deposits to their IOLTA accounts and it aggregates to greater than 10M? No one single attorney had a cash deposit over 10M.
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#1261672 - 10/05/09 04:12 PM Re: CTR on IOLTA Jalen
Elwood P. Dowd Offline
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I'm not certain I understand:

One law firm or lawyer has several IOLTA accounts and there have been multiple deposits to them on the same day...

or

Different lawyers or law firms have different IOLTA accounts and you are considering aggregating them, perhaps because they all have the same TIN; e.g. the number of the state bar foundation?
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#1261681 - 10/05/09 04:18 PM Re: CTR on IOLTA Elwood P. Dowd
Jalen Offline
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Jalen
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Different lawyers or law firms with same TIN of the state bar foundation. Do we have to aggregate & file a CTR?

I knew I would have trouble explaining.
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#1261684 - 10/05/09 04:19 PM Re: CTR on IOLTA Jalen
BrendaC Offline
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BrendaC
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No. While the state bar is benefiting from the interest earned on the accounts; they do not have any ownership or other interest in the actual accounts.
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#1261768 - 10/05/09 06:05 PM Re: CTR on IOLTA BrendaC
Jalen Offline
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Jalen
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Somewhere on 2 wheels
Thank you
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#1261778 - 10/05/09 06:11 PM Re: CTR on IOLTA Jalen
Elwood P. Dowd Offline
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Good, because I was having a devil of a time figuring out what the answer on the first scenario would be. blush
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