{"id":1657,"date":"2016-01-19T05:38:57","date_gmt":"2016-01-19T05:38:57","guid":{"rendered":"http:\/\/suretyone.com\/blog\/?p=1657"},"modified":"2017-01-03T16:20:29","modified_gmt":"2017-01-03T16:20:29","slug":"connecticut-verification-bond-for-non-resident-contractors","status":"publish","type":"post","link":"https:\/\/suretyone.com\/blog\/connecticut-verification-bond-for-non-resident-contractors\/","title":{"rendered":"Connecticut Verification Bond for Nonresident Contractors"},"content":{"rendered":"<p>Changes to the state law regulating contractors created &#8220;registration classes&#8221; and the requirement for a <strong>Connecticut Verification Bond<\/strong> for most non-resident general contractors. Conn. Gen. Stat. \u00a712-430(7) as amended created\u00a0two classes of nonresident contractors: verified and unverified. A nonresident general\u00a0contractor (prime) under this scheme can become verified\u00a0and thus eliminate the requirement to file a surety bond with the Department of Revenue Services, and a nonresident subcontractor may become verified and thereby eliminate the requirement that\u00a0the prime contractor to &#8220;hold back&#8221; a portion of the amount owed the subcontractor.<\/p>\n<p>A <strong>Connecticut non-resident contractor surety\u00a0bond<\/strong> written in the amount of five percent (5%) of the project total is required to be posted with the Department\u00a0by an unverified prime or general contractor for those projects valued at $250,000 or more.\u00a0Any subcontractor or supplier doing business with the\u00a0unverified prime or general contractor must request evidence\u00a0that the contractor has indeed posted this <em><a href=\"https:\/\/suretyone.com\" target=\"_blank\">surety bond<\/a><\/em>. Proper verification of contractor bonding benefits\u00a0those persons and entities\u00a0doing business with an unverified contractor\u00a0as it shields those parties\u00a0from liability associated with the nonresident contractor\u2019s tax withholding duties for\u00a0sales or use tax on materials and consumables. For UNVERIFIED\u00a0contractors the <strong>Connecticut verification bond<\/strong> must be issued using the Department&#8217;s form <em><strong>AU-964 Surety Bond and Release<\/strong><\/em>. A copy of the format can be accessed at <a href=\"http:\/\/www.ct.gov\/drs\/lib\/drs\/forms\/2014forms\/salesandusetax\/contractor_bonds_-_2014\/au-964.pdf\" target=\"_blank\">http:\/\/www.ct.gov\/drs\/lib\/drs\/forms\/2014forms\/salesandusetax\/contractor_bonds_-_2014\/au-964.pdf<\/a>\u00a0 The surety&#8217;s obligation is satisfied when the\u00a0general contractor establishes that it has:\u00a0Paid all taxes it owes in connection with the contract;\u00a0Held back an amount equal to five percent (5%) of the payments being made by the contractor in connection with the contract to its unverified subcontractors; and, paid over amounts held back from unverified contractors to the extent that Department\u00a0has issued certificates of compliance for full or partial release of such amounts, and remitted to Department\u00a0any amounts held back that have not been authorized by DRS to be released to the unverified contractors.<\/p>\n<p>A <strong>Connecticut verification bond<\/strong> for VERIFIED contractors must be issued using the Department&#8217;s form <em><strong>AU-961 Verification Bond<\/strong><\/em>.\u00a0A copy of the form can be accessed at\u00a0<a href=\"http:\/\/www.ct.gov\/drs\/lib\/drs\/forms\/2014forms\/salesandusetax\/contractor_bonds_-_2014\/au-961.pdf\" target=\"_blank\">http:\/\/www.ct.gov\/drs\/lib\/drs\/forms\/2014forms\/salesandusetax\/contractor_bonds_-_2014\/au-961.pdf<\/a>\u00a0This status is available to contractors who have in addition to posting of this verification bond have filed a &#8220;Nonresident Contractor Request for Verified Contractor Status&#8221; along with other tax compliance evidence required by the Department. This obligation runs for two years, concurrent with the &#8220;verified&#8221; status granted by the Department. Like the surety bond for unverified contractors, the surety is released from its obligation only when the Department of Revenue is satisfied that all applicable taxes have been paid.<\/p>\n<p>Applications, bond and supporting materials for verified and non-verified contractors should be sent to:<\/p>\n<p class=\"p1\">Department of Revenue Services<br \/>\n<strong>Connecticut Verification Bond<\/strong> &amp; Application<br \/>\n25 Sigourney Street, Suite 2<br \/>\nHartford, CT 06106-5032<\/p>\n<p class=\"p1\"><strong>Connecticut surety leader<\/strong>,\u00a0Surety One, Inc. provides\u00a0for the bonding needs of the construction and commercial contracting industries\u00a0in all fifty states, Puerto Rico and U.S. Virgin Islands. Visit\u00a0<a href=\"https:\/\/suretyone.com\/\" target=\"_blank\">SuretyOne.com<\/a>, call <span style=\"color: #ff0000;\">(800) 373-2804<\/span>, or email\u00a0<span style=\"color: #ff0000;\">Underwriting@SuretyOne.com<\/span>\u00a0for an <strong>Connecticut contractor verification\u00a0bond<\/strong>\u00a0application or information about any surety need.<\/p>\n<p class=\"p1\">#generalcontractor #generalcontractors #subcontractor #suretybond #suretybonds #SuretyOne<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Changes to the state law regulating contractors created &#8220;registration classes&#8221; and the requirement for a Connecticut Verification Bond for most non-resident general contractors. Conn. Gen. Stat. \u00a712-430(7) as amended created\u00a0two classes of nonresident contractors: verified and unverified. A nonresident general\u00a0contractor&#8230; <a class=\"more-link\" href=\"https:\/\/suretyone.com\/blog\/connecticut-verification-bond-for-non-resident-contractors\/\">Continue Reading &rarr;<\/a><\/p>\n","protected":false},"author":1,"featured_media":1661,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"image","meta":[],"categories":[168],"tags":[2030,2031,2033,2029,2028,2032,2026,2027,2035,2034],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.7.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Connecticut Verification Bond for Nonresident Contractors &bull; Surety One, Inc.<\/title>\n<meta name=\"description\" content=\"A Connecticut verification bond will be required of non-resident contractors in the tate of under the amended general contractor laws.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/suretyone.com\/blog\/connecticut-verification-bond-for-non-resident-contractors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Connecticut Verification Bond for Nonresident Contractors &bull; Surety One, Inc.\" \/>\n<meta property=\"og:description\" content=\"A Connecticut verification bond will be required of non-resident contractors in the tate of under the amended general contractor laws.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/suretyone.com\/blog\/connecticut-verification-bond-for-non-resident-contractors\/\" \/>\n<meta property=\"og:site_name\" content=\"Surety One, Inc.\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Surety1\/\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/Surety1\" \/>\n<meta property=\"article:published_time\" content=\"2016-01-19T05:38:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-01-03T16:20:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/suretyone.com\/blog\/wp-content\/uploads\/pablo-7.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:creator\" content=\"@SuretyOne\" \/>\n<meta name=\"twitter:site\" content=\"@SuretyOne\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"C. 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