What rule governs attorney trust accounts in Florida?

Attorney trust accounts in Florida are governed by Rules Regulating The Florida Bar, Chapter 5 — Rule 5-1.1 (Trust Accounts) and Rule 5-1.2 (Trust Accounting Records and Procedures). It requires attorneys to hold client funds separate from firm funds, maintain complete records, and account for client property.

How often must Florida attorneys reconcile their trust accounts?

Florida requires monthly reconciliation of attorney trust accounts. 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 Florida attorneys keep trust account records?

Florida requires trust account records to be retained for 6 years. Records include bank statements, cancelled checks, deposit slips, client ledgers, journals, and reconciliation worksheets.

Who regulates attorney trust accounts in Florida?

Trust account compliance in Florida is overseen by the The Florida Bar.

Florida · Trust Accounting

Florida IOLTA Trust Account Rules

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

Florida Trust Account Requirements at a Glance

Governing rule

Rules Regulating The Florida Bar, Chapter 5 — Rule 5-1.1 (Trust Accounts) and Rule 5-1.2 (Trust Accounting Records and Procedures)

Reconciliation required

Monthly

Record retention

6 years

Regulator

The Florida Bar

IOLTA program

Interest on Trust Accounts (IOTA), administered by The Florida Bar Foundation (Funding Florida Legal Aid)

Bank overdraft reporting

Not required

Source: The Florida Bar . Rules change — always confirm against the current text before relying on it.

Three-Way Reconciliation in Florida

Florida requires attorneys to reconcile trust accounts monthly. 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 Florida Attorneys Must Keep, and for 6 Years

Florida requires trust account records to be retained for 6 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 The Florida Bar — rules change, and your obligations as the attorney of record are yours alone.

Stay Compliant with Florida Trust Account Rules

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

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