Idaho — Collection Agency - NMLS Bond
Idaho collection agency applicants file the Department of Finance's prescribed bond after application approval and before license issuance. Confirm the license classification and required amount first. An NMLS license renewal and Idaho's annual activity report and bond calculation have separate deadlines.
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- Recorded state
- Idaho
- Bond type
- Collection Agency Bond
- Category
- Financial services
What this bond does
The collection agency bond addresses failure to account for and pay over collected money to creditors, and failure to return money to a debtor that was not to be applied to the debtor's debts. It is a licensing security requirement, not approval to begin operating.
- Who needs it
- Collection agency applicants and licensees using the Idaho Department of Finance's prescribed bond. Bring the license number and its prefix: the Department uses different amount calculations for CCA collection agencies and its other listed license classifications.
- Who it protects
- The statutory bond runs to the State of Idaho. A creditor or debtor harmed by the specified failure to account, pay over or return money has a right of action on the bond in their own name without joining the licensee. Total surety liability for all claims cannot exceed the bond's face amount.
Your bond option
This is the option on record for this bond.
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The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.
Sources
- Idaho Code 26-2232 (opens in a new tab)Checked October 27, 2026
- Idaho Department of Finance collection agencies (opens in a new tab)Checked October 27, 2026
- Idaho 2026 annual reporting and bond calculation package (opens in a new tab)Checked October 27, 2026
Have these ready
- Bring the applicant's legal name, main office, NMLS ID and Idaho license number including its prefix.
- Use the correct Department worksheet and prior-year Idaho activity figures for your license classification.
- Confirm the required amount and whether an executed rider is needed for a change.
- Track NMLS license renewal separately from the annual activity report, bond calculation and fee.
Questions about this bond
Is the NMLS renewal the same as the annual Idaho report?
No. The Department lists a December 31 NMLS license-renewal deadline and a separate annual activity report, bond calculation and fee due before March 15. Use the current year's instructions for each submission.
Can every licensee deduct collection fees in the calculation?
No. The posted package distinguishes CCA net collections from the money accepted, received or held for others used for CDC, CDB, CDS and CCR classifications. Use the calculation matching your license prefix.
What money-handling failures does section 26-2232 address?
It addresses failure to account for and pay collection proceeds or money received for payment or prorating to creditors, and failure to return a debtor's money that was not to be applied to debts. The statute gives the affected creditor or debtor a bond action without joining the licensee.