Every BC law firm files an annual Trust Report with the Law Society. Some file a self report, and others also need an independent CPA. Here is how it works.
Who has to file a Trust Report?
Rule 3-79 requires lawyers to deliver an annual Trust Report to the Law Society. All firms complete the description of practice section, even when no trust account was kept.
When is the Trust Report due?
The Trust Report is an online form, due within three months of the end of the firm's reporting period.
Do I need an accountant's report?
A self report is completed entirely by the lawyer. An accountant's report requires an independent Chartered Professional Accountant to complete Section C, the accountant's specified procedures. Under Rule 3-82 the Law Society has discretion to require an accountant's report.
What happens if I file late?
Late filing brings fees, and the Law Society's instructions say the lawyers in a firm are suspended if the report is still outstanding 60 days after the due date.
A short pre-deadline checklist
- Reconcile every trust account for the whole reporting period
- Gather bank statements, client ledgers and reconciliations
- Find out early whether an accountant's report is required
- Book the CPA well before the three-month deadline
How HJ Wu & Company Inc. helps
The Vancouver CPA firm handles this work every day. See law firm accounting or contact the firm to book a consultation.
Official sources
- Law Society of BC: trust reports
- Law Society of BC: accountant's report instructions (PDF)
- CPA BC: guidance on the Trust Report
Reviewed October 30, 2026. This is general information, not legal or tax advice. Rules and rates change, so confirm current requirements with the official sources above and speak to a CPA about your situation.
Talk to HJ Wu & Company Inc.
Phone: 604-636-1862
Email: inquiry@hjwucpa.com
512 - 938 Howe Street, Vancouver
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Frequently Asked Questions
Quick answers about HJ Wu & Company Inc. and how the firm can help. See all FAQs
A Trust Accountant's Report is a review of how a law firm handles client money held in trust, such as retainers, to confirm it follows Law Society of BC accounting rules. HJ Wu & Company Inc. has experience with trust accounting for BC legal professionals, including trust reporting and reconciliation. Not sure where your firm stands? Reach out and HJ Wu & Company Inc. can walk you through it.
HJ Wu & Company Inc. offers law firm accounting that covers everyday bookkeeping, financial statements, tax filings and trust account work, using the software your firm already runs. The team understands the fiduciary side of legal practice and keeps client records secure. If you want an accountant who already knows how law firms work, contact HJ Wu & Company Inc.
It starts with an initial consultation, then a needs assessment, and then HJ Wu & Company Inc. builds a plan around your goals. Cost depends on what you need, whether that's a one-time tax return or ongoing bookkeeping and payroll, so the firm quotes after learning about your situation. Call 604-636-1862 or email inquiry@hjwucpa.com to book your consultation.