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IOLTA Trust Account
Audit Checklist

A printable checklist covering everything bar examiners look for in an IOLTA trust account review. Use it monthly to stay audit-ready — or before a scheduled bar examination to verify your records are complete.

Six sections. Thirty-plus checkboxes. One page. Print it, check it, file it with your reconciliation records.

The most common finding in bar audits:records that existed but couldn't be quickly located or produced in the format the examiner expected. This checklist helps prevent that.

IOLTA Audit Checklist

PDF · 1 page · Printable · Free

  • ✓6 sections — reconciliation, ledgers, bank docs, retention, audit package, state rules
  • ✓30+ checkboxes covering what bar examiners look for
  • ✓Firm name / account / date fields — ready to fill in and file
  • ✓Amber callout for the most critical compliance gaps
  • ✓State-specific requirements reminder
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What's on the Checklist

Six sections, each covering a distinct area bar examiners review.

1

Monthly Reconciliation Records

  • ☐Three-way reconciliation completed for every month in the review period
  • ☐All three legs documented: adjusted bank balance, book balance, and client ledger total
  • ☐Signed reconciliation report produced and dated by supervising attorney
  • ☐Reconciliation completed within your state's required timeframe
2

Client / Matter Ledgers

  • ☐Separate ledger for every active client matter
  • ☐Every deposit and disbursement recorded with date, amount, payee, and matter
  • ☐Running balance maintained after every transaction
  • ☐No client matter balance has gone below zero
3

Bank Statements & Supporting Documents

  • ☐Original bank statements retained for every month in the review period
  • ☐Canceled checks or check images retained
  • ☐Deposit slips and wire transfer confirmations retained
  • ☐Any overdraft notices documented and reported if required by your state
4

Record Retention

  • ☐All records retained for your state's required period (typically 5–7 years)
  • ☐Records organized by month so any period can be produced quickly
  • ☐Electronic records backed up to a recoverable location
5

What Bar Examiners Typically Request

  • ☐Signed three-way reconciliation reports — 12 to 36 months
  • ☐Bank statements corresponding to the reconciliation periods
  • ☐Complete check register / transaction ledger
  • ☐Per-client sub-ledgers for every matter with activity
  • ☐List of all client matters with current trust balances
6

State-Specific Requirements

  • ☐Annual IOLTA registration completed if required by your state
  • ☐Overdraft notification agreement on file with your bank if required
  • ☐Dormant/stale fund procedures followed for inactive matters
  • ☐State bar's required reconciliation format used
Download the Full Checklist →

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Related Resources

Free IOLTA Three-Way Reconciliation Template (Excel) →QuickBooks IOLTA Three-Way Reconciliation Guide →IOLTA Rules by State →Best IOLTA Trust Accounting Software →