The Trust Assurance Program is funded through the collection of the trust administration fee (TAF).
Lawyers must remit a $15 trust administration fee for each distinct client matter in connection with which trust funds are received on or after March 1, 2005, unless the trust funds are solely for the purpose of paying legal fees or to be held as a retainer.
You must remit the trust administration fee collected or allocated to a client file for the previous quarter within 30 days of the end of that quarter (Rule 2-110).
Remittances must be received by the Law Society by:
- April 30 (for remittances covering the three-month period ending March 31)
- July 31 (for remittances covering the three-month period ending June 30)
- October 31 (for remittances covering the three-month period ending September 30)
- January 31 (for remittances covering the three-month period ending December 31)