Each financial institution must remit any interest earned on IOLTA accounts to the IOLTA Board using the standardized reporting template below. Financial institutions that have fewer than twenty (20) active Pennsylvania IOLTA accounts may remit and report on a quarterly basis.
Funds should be sent in the form of an automated clearinghouse (ACH) transfer on or before the 10th business day following the close of the reporting period. See the “Interest Remittance Report Excel Template” for ACH instructions.
An interest remittance report in the IOLTA Board’s Excel template must be sent by email to the IOLTA Board at iolta.remit@pacourts.us. This report must include all PA IOLTA accounts, including zero-balance accounts and low balance accounts that have not earned any interest.
If a financial institution prefers to utilize a different format they may do so provided that the same data required by the standardized report is also present on the bank’s template. Please make sure to update the dates that the report covers, the contact information for the bank, and interest rates if they change.
Download the Interest Remittance Report Excel Template