Ownership of Interest. SCR 20:1.15 (d)(4)a. states that “the interest or dividends accruing on an IOLTA account, less any allowable reasonable fees, as allowed under par. (5), shall be paid to WisTAF, which shall be considered the beneficial owner of the earned interest or dividends, pursuant to SCR Chapter 13.” The account is to be designated with the Wisconsin Trust Account Foundation, Inc. TIN #00-0000000. IRS Form 1099 is not required.
Appears in 5 contracts
Samples: Iolta Trust Account Agreement, Iolta Trust Account Agreement, Iolta Trust Account Agreement
Ownership of Interest. SCR 20:1.15 (d)(4)a. cm)(4)(a) states that “the interest or dividends accruing on an IOLTA account, less any allowable reasonable fees, as allowed under par. (5), shall be paid to WisTAF, which shall be considered the beneficial owner of the earned interest or dividends, pursuant to SCR Chapter 13.” The account is to be designated with the Wisconsin Trust Account Foundation, Inc. WisTAF's TIN #00-0000000. IRS Form 1099 is not required.
Appears in 1 contract
Samples: Iolta Trust Account Agreement
