New York — Budget Planner (New York Instruments) Bond
New York's posted budget-planner form is headed “Bond New York Instrument.” It prints $250,000 but permits a greater or lesser amount set by the Superintendent. Confirm the required sum and New York debtor-fund exposure before applying rather than assuming the printed amount fits every licensee.
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- Recorded state
- New York
- Bond type
- Budget Planner / Debt Management Bond
- Category
- Financial services
What this bond does
The undertaking supports Article 12-C budget-planner licensing and faithful performance of the planner's debtor contracts. It binds the principal and surety for the benefit of the Superintendent of Financial Services to protect covered debtors.
- Who needs it
- A budget-planning business applying for or maintaining New York authority. Identify the licensed legal entity, NMLS reference and the New York contracts and debtor funds covered by the request.
- Who it protects
- The form defines a debtor as an individual entering a New York contract with the licensed planner who is then a New York resident. Bond proceeds form a trust fund for specified reimbursements, including debtor payments not properly distributed and fees the Superintendent finds improper. It does not promise that creditors will forgive the underlying debts.
Your bond option
This is the option on record for this bond.
- Bond optionPurchase Now (opens in a new tab)Continue to our secure checkout partner, Propeller (opens in a new tab).
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
- New York DFS: Budget Planner Bond, New York Instrument (opens in a new tab)Checked October 26, 2026
- New York DFS: Budget Planner Licensing (opens in a new tab)Checked October 26, 2026
Have these ready
- Provide the licensed budget planner's legal name and NMLS reference.
- Identify the New York debtor contracts and relevant trust accounts.
- Document the highest daily debtor-fund balance or an approved average.
- Obtain DFS's required sum and match the Superintendent obligation and dates.
- Review execution and the current DFS or NMLS filing checklist.
Questions about this bond
Is the amount always $250,000?
The posted form permits the Superintendent to set a greater or lesser amount. DFS also requires sufficient security for the applicable New York debtor-fund balance. Obtain the assigned requirement and current balance information rather than relying on the printed figure alone.
Does the bond expire after one year?
The posted undertaking continues indefinitely unless canceled under its notice provision. The minimum 10-day period after the Superintendent receives cancellation notice is not an annual term, and cancellation does not erase accrued liabilities.
What follows Purchase Now?
Propeller's New York budget-planner application opens in a new tab. Match the licensed entity, New York instrument, Superintendent obligation, required sum and effective entries. Review and execute the undertaking, then submit it using current DFS or NMLS directions. Purchase does not grant the budget-planner license.