NOTICE TO ELIGIBLE INSTITUTION FORM
Eligible Institution (enter institution name below):
_____________________________________________
_____________________________________________
_____________________________________________
The undersigned Lawyer/Law Firm is establishing an IOTA account in compliance with 5-1.1(g) Rules Regulating The
Florida Bar (IOTA Program) for all nominal or short-term funds of clients or third persons that A...the lawyer has determined cannot
practicably be invested for the benefit of the client or third person. Client or third-person trust funds that lawyers or law firms determine can
earn income for the individual client or third person, in excess of the costs to secure such income, cannot be deposited into IOTA
accounts, For further guidance in determining IOTA eligible funds, visit the website at www.thefloridabarfoundation.org
.
The IOTA account must remain in my/our law firm’s name, and must be labeled as a trust account.” The
IOTA account must bear the Foundation’s Taxpayer Identification Number (see reverse for W-9 Form for IOTA Accounts). IRS Form 1099
is required to be filed for IOTA accounts. IOTA accounts are NOT subject to back-up withholding.
Lawyer/Law Firm Name:____________________________________________________________________________
IOTA Account Number: ____________________________________________________________________________
You (the Institution) are authorized to open my/our law firm’s IOTA account as the highest paying* of the
following account types that your institution offers:
A. Interest Checking / Negotiable Order of Withdrawal (NOW) account.
B. Interest Checking/NOW account with Sweep Option and Daily Repurchase Agreement collateralized by United
States Government Securities as the investment vehicle.
(Due to minimum balance requirements, the sweep option is only
available to accounts identified by the Eligible Institution and The Florida Bar Foundation.)
C. Money Market Fund as defined by applicable federal statutes and regulations under the Investment Company Act of
1940, consisting solely of United States Government Securities and with total assets of at least $250,000,000.00.
*Interest Rate Comparability Requirement. Eligible institutions shall maintain IOTA accounts which pay the highest interest rate or
dividend generally available from the institution to its non-IOTA account customers when IOTA accounts meet or exceed the same
minimum balance or other account qualifications, if any. 5-1.1(g) (5)(A) Rules Regulating The Florida Bar Interest or dividends
calculated on the balance of the deposited funds in the IOTA account, in accordance with the eligible institution’s standard practice for
non-IOTA account customers, less Reasonable Service Charges and Fees as defined by the Foundation, if any, must be remitted, at
least quarterly, to The Florida Bar Foundation (see Reasonable Service Charges and Fees Policy on reverse). Remittance made via
ACH and Electronic Transfer is encouraged.
By (all IOTA account signatories): Date: __________________________________
__________________________________________ ______________________________________________
(Signature) (Signature)
__________________________________________ ______________________________________________
(Name) (Name)
__________________________________________ ______________________________________________
(Signature) (Signature)
__________________________________________ ______________________________________________
(Name) (Name)
FBF Form 100 (revised 10/17)
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