New Brunswick law firm obligations: trust accounts, Uniform Rules and PIPEDA

This article is for law firms in New Brunswick. The Law Society of New Brunswick applies the Uniform Trust Account Rules; accountant certification is required when opening an account. The private sector is subject to PIPEDA; HST applies to legal services. Here are the obligations and how PragmaLegal helps.

1. Law Society of New Brunswick and trust accounts

Trust accounts must be opened at institutions legally entitled to operate in the province, in the lawyer's name with "in trust" in the title. Interest is payable to the New Brunswick Law Foundation; bank fees must not be deducted from the account. You must give written notice to the Executive Director (opening date, account name, institution, number). Before accepting trust money, you must set up your records and client ledgers and obtain a letter from an accountant certifying that a trust accounting system compliant with the Rules is in place.

2. Privacy: PIPEDA

In New Brunswick, the private sector is subject to PIPEDA. Centralizing data in a secure environment with an audit trail supports compliance.

3. Billing: HST in N.B.

Taxable legal services are subject to HST (15%). Software that calculates HST and produces reports simplifies compliance.

4. How PragmaLegal helps New Brunswick lawyers

PragmaLegal lets you:

• Maintain trust registers that comply with the Uniform Trust Account Rules and facilitate accountant certification.
• Centralize files and personal data (PIPEDA compliance).
• Bill HST correctly with reports for the CRA.