New Jersey IOLTA Trust Account Bookkeeping and Reconciliation Resources
Maintaining compliance with New Jersey's IOLTA trust accounting requirements is essential for law firms. The following resources and guidelines provide an overview of the bookkeeping, recordkeeping, and reconciliation standards applicable to New Jersey law firms managing IOLTA trust accounts.
Example IOLTA Trust Account Reconciliation Report
While most trust accounting resources explain rules and requirements, few provide practical examples of the necessary monthly reports. Our IOLTA reconciliation video walks through a set of example reports.
Guides and Regulatory Resources
The New Jersey Supreme Court provides an Outline of Recordkeeping Requirements Under RPC 1.15 and R.1:21-6. This guide provides procedural details and has partial examples of monthly reports.
New Jersey IOLTA Rules
Court Rule 1:21-6 discusses required bookkeeping records.
Rule of Professional Conduct 1.15 covers safekeeping property.
New Jersey Random Audit Program
New Jersey is one of the few states with an active random audit program. Firms are selected at random. A 10 day notice is provided for the start of the audit.
IOLTA Trust Accounting Services
We provide trust accounting services for other 100 law firms with our bookkeeping services and IOLTA reconciliation oversight with our CFO services. Schedule a consultation to learn more.
