Vermont License Law
A Vermont broker who manages a trust account must reconcile it:
AOnce a year at tax time
BMonthly, comparing the account balance to the ledger for each client✓ Correct
COnly when a transaction closes
DQuarterly, as required by the IRS
Explanation
Vermont requires brokers to reconcile trust accounts monthly, ensuring that the bank balance matches the sum of individual client ledger balances. This protects client funds and identifies errors or shortages promptly.
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