Information for financial institutions

Wisconsin's financial institutions play a key role in the maintenance of lawyer trust accounts and fiduciary accounts by enabling lawyers to comply with the Wisconsin Supreme Court's overdraft notification and IOLTA requirements. The information on this website is designed to assist financial institutions in understanding the requirements that lawyers must meet in connection with trust and fiduciary accounts.

Trust Account Program page

Wisconsin's trust account rule

Overdraft reporting

Agreement to notify the Office of Lawyer Regulation of overdrafts on lawyer trust accounts and fiduciary accounts

  • While the Agreement and the instructions for completing it can be accessed from this site, the agreement must be printed out, completed, and signed.
  • A copy of the signed Agreement, with a voided trust account check attached, must be filed with OLR by regular/first class mail. Starter checks are not acceptable unless they are identical to checks that the lawyer has ordered. Note: It is the lawyer's responsibility, not the financial institution's, to file the overdraft agreement and voided check with OLR.

Accounts that are subject to overdraft notification requirements
Procedures in overdraft investigations

IOLTA requirements

Lawyers who receive funds in trust are required to maintain pooled, interest-bearing or dividend-paying draft accounts, called IOLTA accounts. The Wisconsin Trust Account Foundation (WisTAF) administers Wisconsin's IOLTA program. Lawyers must maintain their IOLTA accounts in IOLTA participating institutions.

FAQs for financial institutions

Contact information

For questions regarding the overdraft notification program or OLR's forms, please contact the OLR Trust Account Program at: (608) 261-8296 or toll-free at (877) 315-6941 (Option 2).

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