Remitting and Reporting IOLTA Funds

Remitting Funds

Remittance payments (not remittance reports) are sent directly to MLSC’s depository bank by the following means.

ACH Remittances: Please contact the MLSC office at 410-576-9494 for instructions.

Send checks to:

Maryland Legal Services Corporation
P.O. Box 758892
Baltimore, Maryland 21275-8892

Remitting Reports

Remittance reports are sent directly to MLSC, not with checks to the P.O. Box. Also, for each monthly/quarterly remittance period, “Notice of New IOLTA Account/IOLTA Enrollment Form” should be submitted to MLSC for each new account.

A monthly/quarterly Remittance Report should be prepared showing:

  • the name of the lawyer or law firm for whom the remittance is sent
  • the account number
  • the average collected period balance (monthly or quarterly)
  • the rate of interest applied
  • gross interest
  • any service charges assessed
  • the net amount remitted for the account
  • total for all numeric columns

The Remittance Report with this information must be provided in Excel or CSV (comma separated value) format. Click here for CSV format specifications.

Reports must be submitted electronically by e-mail to iolta@mlsc.org or mailed on disk to MLSC (15 Charles Plaza, Suite 102, Baltimore, MD 21201).

 

Please note that remittance reports are sent directly to MLSC, whereas remittance payments are sent directly to MLSC’s depository bank. Do NOT send Remittance Reports with remittance checks to the MLSC post office box.