Trust Administration Fee report

 

Print the Trust Administration Fee reports to determine the TAF amount to remit.  The Trust Administration Fee applies only to firms operating in British Columbia, Canada.  For filing instructions and additional information contact the Law Society of British Columbia or visit www.lawsociety.bc.ca.

  1. Click Reports, Trust Administration Fee.

  2. Choose whether to print the report by lawyer or by notary.  Notaries are required to file the report monthly.  If you choose this option, you will be able to select a monthly date range.  Lawyers are required to file the report quarterly.  If you choose this option, you will be able to select a quarterly date range.

  3. Enter the Report date.  Normally this will be the last day of the last month in the reporting period.

  4. The transaction start and end dates will correspond to the reporting period in which the report date falls, based on whether you selected the Notary option or the Lawyer option.  Modify these dates if necessary.

  5. Choose whether to print the report by responsible lawyer or for the firm.  If you are printing by responsible lawyer, select the lawyers to include.

  6. Click Select to choose areas of law related to real estate.  The report separates client matters with these areas of law from the remaining clients/matters when listing TAF totals by month within the reporting period.  

  7. Select Alpha to sort the report by client name or select Numeric to sort it by client/matter number.

  8. Click View image\view20x20.gif to display the report on your screen or click Print image\print20x20.gif to send it to your printer.

 

Filing Form report

 

This is the first report that prints, and is the report that you must send along with your remittance check.  It shows a monthly breakdown of TAF collected within the reporting period, with totals by month and for the entire period, and includes charges entered for both clients/matters and the firm.  This report includes only one TAF charge per client/matter.  Therefore, if you have "Miscellaneous" clients/matters where you have entered multiple TAF charges manually, you must modify the Filing Form report accordingly.

 

Trust Administration Fee report

 

This is the second report that prints.  It provides a list of clients/matters for which the TAF was collected during the reporting period.  For clients/matters where the TAF was charged to the firm, the amount will be blank and is instead totaled at the end of the report as "Charged to Firm".  If you have "Miscellaneous" clients/matters where multiple TAF charges have been entered as described above, this report will list all the charges.  Ensure you compare the total on this report to the total on the Filing Form report.  If there is a discrepancy, review this report to ensure that the TAF has been charged correctly.  Keep this report for at least three years.

 

Trust Administration Fee report – Clients with no TAF

 

This report lists clients/matters for which a trust receipt was entered during the reporting period but for which the TAF was not charged.

 

 

Section B: Financial Profile report