Rule 1305 - Maintenance of IOLTA Accounts(a) A lawyer required to create and maintain an IOLTA account under Rule 1304 shall: (1) place in the IOLTA account all client or third party funds which cannot earn net income for the client or third person in excess of the costs of securing that income;(2) direct the financial institution where the IOLTA account is maintained to:(A) remit all interest or dividends, net of any allowable reasonable service charges or fees, on the average monthly balance in the account, or as otherwise computed in accordance with the financial institution's standard practice, at least quarterly, solely to the Foundation. When feasible, the financial institution shall remit the interest or dividends on all of its IOLTA accounts in a lump sum, however, the financial institution must provide, for each individual IOLTA account, information to the Foundation as required by subsections (B) and (C);(B) report in a form and through any manner of transmission approved by the Foundation showing the name of the lawyer and the amount of the remittance attributable to each, the account number for each account, the rate and type of interest or dividend applied, the amount and type of allowable reasonable service charges or fees deducted, the average account balance for the reporting period and such other information as is reasonably required by the Foundation;(C) report to the lawyer in accordance with the financial institution's normal procedures for reporting to depositors; and(D) ensure that allowable reasonable service charges or fees in excess of the interest earned on the account for any period are not taken from interest earned on other IOLTA accounts or any principal balance of the accounts;(3) ensure that earnings from an IOLTA account are not made available to the lawyer; and(4) review the IOLTA account at reasonable intervals to determine whether changed circumstances require further action with respect to the funds of clients or third persons.