How to File Your Form 1 - Report to The Law Foundation
How to File Your Form 1
Form 1 enables The Law Foundation of Ontario to be confident that it receives the interest generated on all lawyers' and paralegals' mixed trust accounts. This revenue supports Legal Aid Ontario and many other activities which enhance excellence in the legal professions and access to justice for all Ontarians.
The Form 1 process was streamlined and simplified for the reporting year commencing 2008. The Form 1 can be filed online using the same e-Forms for filing your Annual Report.
Alternatively, you may mail a hard copy of Form 1 using the pre-addressed envelope included in the Lawyer Annual Report or Paralegal Annual Report packages distributed by The Law Society.
Frequently Asked Questions
Q: Who needs to file a Form 1?A: Every mixed trust account must be reported. Form 1 can be filed by the lawyer, paralegal or designated financial filing licensee, who is responsible for client trust monies, held in a mixed trust account at any time during the reporting year. This could include sole practitioners, the designated financial filing licensee on behalf of a firm, or any licensee who is responsible for a mixed trust account not otherwise reported.
Q: If I am a member of a firm but not the designated financial filing licensee, do I have to file a Form 1?
A: A licensee who is a member of a firm may be responsible for a mixed trust account which is not the responsibility of the firm and therefore not included in the Form 1 filed by the firm's designated financial filing licensee. That account must be reported separately by the licensee responsible for it.
Q: Does every lawyer or paralegal have to complete a Form 1?
A: No. Every lawyer or paralegal receives a blank Form 1 in his/her Lawyer/ Paralegal Annual Report package, but only sole practitioners, a firm's designated financial filing licensee, or any licensee who is responsible for a mixed trust account not otherwise reported are required to complete and file Form 1.
Q: What is a mixed trust account?
A: As set out in Section 57 (1) of the Law Society Act, a mixed trust account is one in which a licensee holds money in trust for or on account of more than one client in one fund.
Q: Where can I find the Form 1?
A: You may file on-line or by regular mail. Form 1 is available for e-filing through the Society's online Annual Reporting portal. Alternatively, the Form 1 was mailed to lawyers and paralegals who selected not to file electronically, along with their Annual Report package from the Law Society of Upper Canada.
Each Form 1 has a unique identifier and it is therefore not advisable to use or photocopy the form mailed to another licensee.
Q: The hard copy of Form 1 accommodates reporting for up to twelve mixed trust accounts. What should I do if there are more than twelve mixed trust accounts to be reported?
A: If you are reporting by hard copy and you have more than twelve accounts, attach a separate piece of paper with the additional reporting information.
The electronic Form 1 will accept a virtually unlimited number of mixed trust accounts.
Q: Can I still use the pre-2008 Form 1 for reporting?
A: No, the pre-2008 Form 1 is no longer in use. If you are filing for years prior to 2008, call The Law Foundation of Ontario at (416) 598-1550.
Q: Do I still have to provide monthly details regarding account balances, rates of interest paid and interest amounts paid by my financial institution on the new Form 1?
A: No. Under O. Reg. 59/08, lawyers and paralegals are no longer required to provide The Law Foundation of Ontario with this information.
Q: What detail should I keep on file?
A: The Law Foundation of Ontario may request a supplementary report to confirm or clarify information regarding your mixed trust accounts. See O.Reg. 59/08, Section 2 (2). As a general rule, your regular monthly bank statement provides the necessary information to complete a supplementary report if one is requested.
Q: Does the Form 1 require an original signature?
A: Hard copies of Form 1 require an original signature. E-file versions of Form 1 do not require an original signature.
Q: How can I obtain a duplicate Form 1 to complete?
A: Click here to obtain another copy.
Q: What is the deadline for filing Form 1?
A: The deadline for filing Form 1 is March 31.
Q: Where do I mail my Form 1 Report?
A: If you are not e-filing and are mailing a hard copy Form 1, the mailing address is:
The Law Foundation of Ontario
20 Queen Street West, Suite 3002
Box 19,
Toronto, ON
M5H 3R3
Q: Who do I contact for other suggestions?
A: Call (416) 598 1550 or email form1@lawfoundation.on.ca