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Idaho bonds

Idaho — ERISA Bond

Prepare your plan details and choose a one-year or three-year Idaho ERISA bond option. Purchase Now continues to RLI's application for the selected term.

Also known as Idaho ERISA Bond (1 Year); Idaho ERISA Bond (3 Years); Idaho ERISA Bonds

2 options on record. Choose the one that matches your requirement, then purchase.

How a fidelity bond works

Fidelity protection responds to covered dishonest acts. The form identifies whose money or property is protected, the covered persons, and the applicable limits.

Bond family
Fidelity bond
Recorded state
Idaho
Category
Fidelity & employee dishonesty
Federal programme authority
United States Department of Labor, Employee Benefits Security Administration

What this bond does

ERISA fidelity bonding protects a benefit plan against covered fraud or dishonesty losses involving its funds or other property.

Who needs it
Employers and administrators responsible for arranging bonding for handlers of ERISA-covered plan assets, subject to exemptions.
Who is protected
The plan is insured. This protection does not replace fiduciary liability insurance or insure the employer's ordinary liabilities.

Choose from 2 options

Each option is a separate record. Where a term, bond amount, premium, or E&O limit is known, it is listed; match it to what your requirement asks for.

The coverage amount describes a limit of protection, not the price. Match the requested protection and covered persons to the actual fidelity form. 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.

Identify who can control the assets

Handling can include authority to direct disbursements or transfer plan property. Include outside service providers when reviewing handlers with your plan adviser; exemptions can apply.

Determine the required amount separately from the 36-month or 12-month period. Neither RLI choice states an amount here. Federal ERISA rules govern the requirement; the Idaho page label creates no separate state rule.

Sources

Have these ready

  1. Have the plan name and identifiers available.
  2. Locate current bond details.
  3. List people with authority over plan assets.
  4. Prepare preceding-year funds-handled information.
  5. Confirm the amount and exemptions with your adviser.
  6. Choose an effective date and term.

Questions about this bond

Must a handler physically hold funds?

No. Control over transfers or disbursements can also create a bonding obligation, unless an exemption applies.

Is three years a coverage limit?

It is a duration. Confirm your plan's required amount in the provider's application.

Can fiduciary liability coverage replace this bond?

No. The federal fidelity requirement concerns covered dishonesty losses to the plan, separate from fiduciary liability insurance.

What happens at the provider?

RLI opens in a new tab. Complete its application; after issuance, check the plan, amount and dates and retain the document.

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How can we help you get started?

Choose the quote that fits, and we’ll take it from there.

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