Client Trust Accounts

To select a financial institution for your Arizona IOLTA account, please see our complete listing of approved participating financial institutions. When opening an IOLTA account, lawyers and legal paraprofessionals must instruct their financial institution to identify the account as an IOLTA account by submitting to them the Notification to Financial Institutions.  In addition, the State Bar of Arizona must be notified of the new account by submitting the Arizona IOLTA Enrollment/Change Form.

On June 22, 2010, the FDIC adopted a final rule extending the TAG program including restrictions on the interest calculations on NOW deposit. Please note that IOLTA accounts are approved separately from other types of NOW deposits and thus are not subject to the rate restriction guidelines. 

For details:
http://www.fdic.gov/news/board/rule2.pdf 

http://www.fdic.gov/news/board/memo3.pdf

For additional FDIC deposit insurance updates:

http://www.fdic.gov/deposit/deposits/changes.html<p>