Wash. Admin. Code § 208-680-520 - What trust account records am I required to keep?

You are required to keep the following trust account records:

(1) Legible copies of all deposits made to the trust account including duplicate deposit slips validated by the bank or bearing the signature of the designated escrow officer or branch designated escrow officer, and including the date of actual deposit, wires, separate receipts, or other evidence of the deposit of funds into the trust account;

(2) Legible copies of all disbursements made from the trust account, including checks, wires, or other evidence of any disbursement from the trust account;

(3) Legible copies of all bank statements for the trust account, including all paid checks or copies of paid checks, electronic or otherwise, provided that such copies are made in such a manner that the endorsement on the paid check is visible and readable;

(4) A client's ledger containing an individual ledger sheet for each escrow transaction or collection account, unless you use a computer accounting system. If you use a computer accounting system, an individual ledger sheet does not need to be maintained in the transaction files until the closing of the escrow transaction or collection account as long as the computer accounting system records provide the status of the escrow transaction or collection account funds on a daily basis;

(5) Legible copies of all written receipts and pre-numbered checks, if you use a manual trust accounting system to administer the trust account.

Notes

Wash. Admin. Code § 208-680-520

Amended by WSR 13-24-022, filed 11/22/13, effective 1/1/2014

Statutory Authority: RCW 43.320.040 and chapter 18.44 RCW (as amended by 2010 c 34). 10-20-124, § 208-680-520, filed 10/5/10, effective 11/5/10.