Trust account notifications
The Legal Profession Act 2006 requires legal practices that operate a trust account to notify the Society in certain situations. The listed notifications are online forms available in the table below.
The Annual Reporting obligations online forms will be activated on 1 April each year.
Should you have difficulty completing the online forms or if you are not a member please contact the Licensing Officer on telephone (08) 8981 5104 or email This email address is being protected from spambots. You need JavaScript enabled to view it..
ANNUAL REPORTING OBLIGATIONS 1 APRIL TO 31 MARCH
| FORM | DEADLINE | INFO |
|
Annual Declaration Part A |
11 April 2023 |
Required to be completed by all entities providing legal services including barristers whether or not trust money is held (R71)
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Annual Declaration Part B
|
21 April 2023 |
Required by all entities that received or held trust money that was required to be deposited into a general trust account in an approved ADI |
|
Notification 72 |
21 April 2023 |
Appointment or termination of an External Examiner (r72) |
| To be provided to the external examiner |
Practitioners / practices who have received or held money that was required to be deposited into a general trust account in an approved ADI This should be completed and provided to your external examiner |
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31 May 2023 |
Although it is the Examiner who will submit the report the practitioner is ultimately responsible for ensuring the report is submitted (Final report to include Annual Declaration Part A, B and the Self-Assessment Check List) |
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Annual Declaration - Signatories - Persons authorised to effect withdrawals 1 July (r55(2)(b) |
4 August 2023
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To be completed by all legal practices that hold a trust account |
Ad hoc reporting requirements
| EVENT | DEADLINE | INFO |
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Within 14 Days |
To be completed whan a legal practice including a barrister opens a general, controlled and/or investment trust account |
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Within 14 Days |
Update signatories to an existing trust account | |
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Within 14 Days |
To be completed when a legal practice closes a general, controlled and/or investment trust account (including information required under r55(2) | |
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Within 14 Days |
To be completed when a legal practice believes on reasonable grounds or becomes aware of irregularities in the practices trust account or ledger accounts or the receipt, recording or disbursement of trust money | |
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After two years of dormant ledger accounts |
To be completed by a law practice when the practice has unclaimed money in its trust account which has been held by the practice for over 2 years |