Iowa Client Trust Account Rules (Iowa Court Rules Chapter 45) 45.2-3a-3-7: Retain fee agreements, accountings, bills, disbursement records and the bank's own records

What does 45.2-3a-3-7 require?

Alongside the journal and ledgers, the retained trust records include copies of retainer and compensation agreements required by the fee rule (32:1.5), copies of accountings sent to clients or third persons showing disbursements to or for them, copies of bills for fees and expenses, copies of records evidencing disbursements on clients' behalf, and copies of all bank statements, deposit records, prenumbered cancelled cheques and substitute cheques. Each sits within the same six-year retention window.