All Iowa law firms are required by Iowa Supreme Court Order to participate in the Interest on Lawyer Trust Accounts program established by the Iowa Supreme Court. Under this program, attorneys are required to retain funds belonging to their clients or third-parties in a pooled interest-bearing trust account which is subject to negotiable orders of withdrawals.
The tax identification number which must be used in connection with the account is that of the Lawyer Trust Account Commission: 42-1245104. Interest on this account must be remitted to the Lawyer Trust Account Commission, Judicial Branch Building, 1111 East Court Avenue, Des Moines, Iowa 50319. With each remittance to the Commission, a completed remittance report along with a copy of the trust account statement for the reporting period should be included.