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How is an IOLTA account established?

April 26, 2017account IOLTA

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How is an IOLTA account established?

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Establish the account as you would any new account at your bank. Use the tax ID number of the SC Bar Foundation (can be obtained by calling the Foundation office at 803-765-0517). IOLTA accounts are exempt from any withholding tax. No 1099s are necessary for these accounts.