Electronic report file rules, template, and fields

Electronic report file rules

The following rules apply:

• The WisTAF remittance report template file is a comma-separated values (“.csv”) ASCII Flat File format.
• In all cases, the remittance file should contain text only, and not contain any binary data.
• Dollar amounts may include a “$” but may not include a comma, because the comma is used to separate data in the “.csv” formatted file.
• All numeric fields have an actual decimal point.
• All date fields are in the MM/DD/YYYY format, as noted below.
• The Trust Account Number must:
  • Contain numerals only and not start with “account” or any other characters other than the number itself.
  • Not be empty, or else the record cannot be imported by WisTAF database.
• All data fields required by the record layout must be present, even if populated only with a “0” (zero) or left blank, to ensure that the IOLTA2 Software translates all expected fields in the correct length and order. This is also addressed further below in the Record Layout guidance.
• Record length is variable though there are width limits, as noted below.
• All records are terminated with a Hard Return (HRt).

Electronic record template file

All fields are comma-separated values (“.csv” file format), one record per line. There are no fixed field widths; however, the upward limits are listed. Fields may contain a zero (“0”) or be left blank, if no information is available.

Field Name	Width Limits	Formatting
WisTAF Tax ID#	10
Routing Transit Number	9
Branch ID	6
Trust Account Number	17
Account Status	1	A, C, or N (Active, Closed, or New)
Begin Earnings Period	10	MM/DD/YYYY
End Earnings Period	10	MM/DD/YYYY
Interest Rate	5	include actual decimal; may include % sign
Gross Remittance	10	include actual decimal; may include $ sign (but not a comma)
Administrative Fee	10	same as gross remittance format
Other Allowable Fees	10	same as gross remittance format
Activity Fees	10	same as gross remittance format
Net Remittance	10	same as gross remittance format
Average Collected Balance	12	same as gross remittance format
Rate Type	4
Other	10	same as gross remittance format
Waived Charges	10	same as gross remittance format
Target Balance	10	same as gross remittance format
Sweep Fee	10	same as gross remittance format
Firm Name	60	Please do not insert any commas in the firm name

Report field definitions

The following field definitions apply to the WisTAF remittance report template file:

WisTAF Tax ID #

Your institution should enter 391555465 (WisTAF’s Federal Tax ID #) in this field for each IOLTA account being remitted. This can be used as the batch separator by a financial institution that is remitting to multiple IOLTA Programs, and to validate the proper file being transmitted to the correct IOLTA Program. It is validated by WisTAF’s IOLTA2 Software Database to process the correct IOLTA accounts.

Routing Transit Number

This is the Routing Transit Number of a financial institution where the trust account is held. If one financial institution is remitting for multiple facilities, then this field should reflect the Routing Transit Number for the facility where the account is located. It can be “hard coded” (hard-wired) for financial institutions remitting with one Routing Transit Number.

Branch ID

This is a financial institution’s internal Branch ID for those facilities that have multiple branches. It can include a financial institution’s ID # with the branch designator. When one Routing Transit Number is used for multiple offices or branches, this field is required to identify the actual location of the trust account. If the remittance is for one office, then default to “0.”

Trust Account Number

This is the unique 17-digit number that identifies the account (this may, but is not required to, contain leading zeros to account for 17 digits). It will be used in the ACH system and must conform to the ACH standards. It does not include any local prefixes or suffixes.

Account Status

This field is used to identify whether the account is a regular active remittance (A), a recently closed account that has interest to report (C), or a new account that has not previously been reported (N). Completion of this information, however, does assist WisTAF, as closed accounts are closed automatically by the IOLTA2 software and new accounts will be automatically maintained in the future.

Begin Earnings Period

The first date for which interest is accumulated for the reported trust account in MM/DD/YYYY format.

End Earnings Period

The last date for which interest is accumulated for the reported trust account in MM/DD/YYYY format.

Interest Rate

The interest rate used to calculate the gross remittance for the earnings period reported. Please report this number as a rate and not as basis points.

Gross Remittance

The gross interest earned by the trust account during the earnings period reported. Please enter zero if this value is zero. Do not leave blank.

Administrative Fee

An IOLTA administrative fee pre-approved by WisTAF and applied per account. If none, enter a “0” (zero). Note: As of January 1, 2010, assessing this fee requires that your financial institution contact WisTAF for pre-approval.

Other Allowable Fees

Other allowable reasonable fees are limited to fees in lieu of minimum balance, sweep fees, and federal deposit insurance fees. If none, enter a “0” (zero).

Activity Fees

Activity fees are limited to per check charges and per deposit charges. If none, enter a “0” (zero).

Net Remittance

The net amount of remittance due to the IOLTA Program. This amount is usually calculated as the Gross Remittance minus the Administrative Fee, Other Allowable Fees, and Activity Fees. If a financial institution waives a negative net on an IOLTA account, then a zero (0.00) amount is entered.

Average Collected Balance

The average collected balance used to calculate the interest earned

Rate Type

Type of interest rate used: ICR = Interest Checking; TICR = Tiered Interest Checking; RIR = Repo Interest.

Other

Leave blank.

Waived charges

Any service charges that have been waived, for example, in order to provide a net zero transaction.

Target Balance

If relevant, the sweep product’s target balance applied to this account when calculating the remittance.

Sweep Fee

Any sweep fee charged on this account.

Firm Name

The name of the law firm on the account. Completing this field will eliminate or reduce communication with a financial institution regarding new accounts.