FAQ: Do I need to notify COLTAF when my COLTAF account info changes?

Answer: It depends on why and how your COLTAF account info changed.

Explanation:

• You opened a new COLTAF account.
  • You must notify COLTAF of new account openings by using the Enrollment Form found here; AND
  • You must also complete a new Attorney Registration Compliance Statement. The Attorney Registration Compliance Statement can be found on the Office of Attorney Regulation Counsel’s website on this page.
• You closed a COLTAF account.
  • You do not need to notify COLTAF when you close a COLTAF account. It is the financial institution’s obligation to notify COLTAF of account closures.
  • However, you must notify Attorney Registration of the change. The Attorney Registration Compliance Statement can be found on the Office of Attorney Regulation Counsel’s website on this page.
• Another financial institution acquired the financial institution where your COLTAF account was held.
  • COLTAF does not need to be notified if your bank or credit union is acquired by another bank or credit union, as long as you opened your account at an approved institution. When financial institutions merge, the acquiring institution goes through a process to become an approved COLTAF institution. The financial institution is responsible for migrating all COLTAF accounts and communicating any corresponding changes in account numbers.
  • However, you should notify Attorney Registration of the change. The Attorney Registration Compliance Statement can be found on the Office of Attorney Regulation Counsel’s website on this page.
• You changed the name on your COLTAF account.
  • If the name on your COLTAF account changed, but not the account number, COLTAF does not currently require you to provide notice.
  • However, you must notify Attorney Registration of the change. The Attorney Registration Compliance Statement can be found on the Office of Attorney Regulation Counsel’s website on this page.