Registry funds are funds deposited with the court as interpleader funds, cash bonds, and other monies to be held in trust. Funds are placed and withdrawn from the Registry by Court Order only. Funds deposited into the Registry fall either under Rule 67, Federal Rules of Civil Procedure or Rule 7067, Federal Bankruptcy Rules.
The Judicial Conference of the United States has authorized the clerk to assess a registry fee for the administration of funds held in the registry of the court, which are placed in interest bearing accounts. The Registry fee schedule is as follows:
10% of interest earned during the first 5 years on deposit
7.5% of interest earned during years 6 through 10 on deposit
5% of interest earned during years 11 through 15 on deposit
2.5% of interest earned after 15 years on deposit
The court requires each order for investment of registry funds to contain language permitting the clerk to assess the fee and deduct it from the investment. A sample order is below.
In addition, a standing order is in effect that allows the clerk to deposit all Registry funds with the U.S. Treasury. Administrative Order Regarding Registry Funds
Monies deposited into the registry fund must be in the form of a cashier's check or money order, made out to Clerk, United States Bankruptcy Court. Personal or business checks and wire transfers cannot be processed as registry funds at this time.