Order for Deposit in Interest-Bearing Account

(a) Whenever a party seeks a court order for money to be deposited by the clerk in an

interest-bearing account, the party must file the proposed order. The clerk must

inspect the proposed order for proper form and content and compliance with this

rule before submission to the judge for signature.

(b) Proposed orders directing the clerk to invest such funds in an interest-bearing

account or other instrument must include the following:

(1) The exact United States dollar amount of the principal sum to be invested;

and

(2) Wording that directs the clerk to deduct from the income on the investment a

fee consistent with that authorized by the Judicial Conference of the United

States and set by the Director of the Administrative Office.

Joint Local Rules, S.D.N.Y. and E.D.N.Y. Effective January 2, 2026

(c) Unless ordered otherwise by the court, interpleader funds must be deposited in

the Disputed Ownership Fund in an interest-bearing account. Income generated

from fund investments in each case will be distributed after the appropriate fee has

been applied and tax withholdings have been deducted from the fund.

For relevant historical context for this local rule, consult the Appendix of Committee Notes.