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IOLTA interest remittance instructions and forms
To report and remit IOLTA interest, please do the following:
1. COMPLETE YOUR IOLTA INTEREST REMITTANCE REPORT
In order to make completion of your remittance report even easier, we’ve created a fillable electronic form (Microsoft Word®) and instructions. Simply enter the required information by tabbing through each field. Save your report to a location on your hard drive or network. You may continue to use your current remittance report format for the time being, if you prefer. Please note: Per amended Wisconsin Supreme Court rule 20:1.15, only allowable reasonable fees may be deducted from the interest or dividends earned on IOLTA accounts.
2. RETURN YOUR COMPLETED IOLTA INTEREST REMITTANCE REPORT
Once you’ve completed your remittance report, send it to WisTAF in one of the following ways:
• Secure file upload*
Use this simple, straightforward option to avoid paper waste and save yourself time. Go to the WisTAF website homepage and complete the following steps:
First time users:
Register your financial institution to access the file upload page. To register, click the “Registration” link in the upper right corner of the WisTAF website homepage. Enter the required information Note: User names must contain only alpha characters (a to z) and should not contain any spaces. Do not include numbers or special characters in your user name. (Examples of allowable user names: johndoe; jdoe; johnd)
Return guests:
Enter the user name and password you created when you first registered to access the file upload page. The login area can be found in the upper right area of your screen.
First time users AND return guests:
Once you’ve logged in, click on the “Upload files” link in the upper right area of the screen. Clicking the Upload files link will take you to the Upload files page where you will see instructions on uploading files to the WIsTAF website.
Click the “Browse” button and locate the file you wish to upload (your remittance report). Next, click the “Upload document” button. You will now see your chosen file in the “My files” listing at the bottom of the page. Once you have uploaded your remittance report, WisTAF staff will download the file and process your remittance.
• Fax
Print your completed remittance report and fax to the WisTAF office at 608.257.2684.
• Email*
Save your completed remittance report as a Microsoft Word or PDF file and send via secure email to service@wistaf.org.
3. MAKE YOUR PAYMENT AVAILABLE FOR TRANSFER VIA ACH
Deposit the total net IOLTA interest earned (on all IOLTA accounts) for the reporting period into your ACH disbursing account. If you have not yet set up your ACH disbursing account, or have not yet sent ACH disbursing account information to WisTAF, please call the WisTAF office immediately for further instruction.
Funds should be made available in the ACH disbursing account on the day you submit your IOLTA Interest Remittance Report to WisTAF. WisTAF staff will then initiate the ACH transfer of interest from your ACH disbursing account to WisTAF’s account. There is no need for you to worry about initiating payment.
Questions on the IOLTA interest remittance process or forms? Contact us.
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