How often must Alaska attorneys reconcile their trust accounts?

Alaska's stated requirement is: Not specified by rule. Reconciliation compares the adjusted bank balance, the trust register balance, and the total of all individual client ledgers — all three must agree.

How long must Alaska attorneys keep trust account records?

Alaska requires trust account records to be retained for 5 years. Records include bank statements, cancelled checks, deposit slips, client ledgers, journals, and reconciliation worksheets.

Who regulates attorney trust accounts in Alaska?

Trust account compliance in Alaska is overseen by the Alaska Bar Association, Office of Bar Counsel.

Alaska · Trust Accounting

Alaska IOLTA Trust Account Rules

Q: What rule governs attorney trust accounts in Alaska?

Attorney trust accounts in Alaska are governed by Rule 1.15 of the Alaska Rules of Professional Conduct (Safekeeping Property); overdraft notification under Alaska Bar Rule 15.1. It requires attorneys to hold client funds separate from firm funds, maintain complete records, and account for client property.

What Alaska attorneys must do to keep client trust funds compliant — the governing rule, how often you must reconcile, and how long records must be kept.

Alaska Trust Account Requirements at a Glance

Governing rule

Rule 1.15 of the Alaska Rules of Professional Conduct (Safekeeping Property); overdraft notification under Alaska Bar Rule 15.1

Reconciliation required

Not specified by rule

Record retention

5 years

Regulator

Alaska Bar Association, Office of Bar Counsel

IOLTA program

Alaska Bar Foundation

Bank overdraft reporting

Required — banks must notify the regulator

Source: Alaska Bar Association, Office of Bar Counsel . Rules change — always confirm against the current text before relying on it.

Three-Way Reconciliation in Alaska

Alaska's stated reconciliation requirement is: Not specified by rule. A three-way reconciliation compares three totals that must all agree. If they do not, the difference has to be found and resolved before the reconciliation is complete.

Adjusted bank balance

Bank statement balance, adjusted for outstanding checks and deposits in transit.

Trust register balance

Your internal trust account register as of the same date.

Sum of client ledgers

The total of every individual client ledger balance on that date.

For a full walkthrough of the procedure, common violations, and what examiners look for, see our IOLTA compliance guide.

What Alaska Attorneys Must Keep, and for 5 Years

Alaska requires trust account records to be retained for 5 years. In practice that means keeping:

Individual ledgers for each client and matter, showing every receipt and disbursement
A transaction journal listing all deposits and withdrawals by date
Bank statements, cancelled checks, and deposit slips
Completed and signed reconciliation worksheets
Outstanding check lists, reconciled each period

This page is a summary, not legal advice. IOLTA Guard is not a law firm. Confirm current requirements with the Alaska Bar Association, Office of Bar Counsel — rules change, and your obligations as the attorney of record are yours alone.

Stay Compliant with Alaska Trust Account Rules

IOLTA Guard automates three-way reconciliation, blocks negative client ledgers, and keeps the audit trail Alaska attorneys are expected to maintain.

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