{"id":528,"date":"2013-03-11T03:12:42","date_gmt":"2013-03-11T03:12:42","guid":{"rendered":"http:\/\/suretyone.com\/blog\/?p=528"},"modified":"2017-01-03T16:20:42","modified_gmt":"2017-01-03T16:20:42","slug":"erisa-bond","status":"publish","type":"post","link":"https:\/\/suretyone.com\/blog\/erisa-bond\/","title":{"rendered":"ERISA Bond"},"content":{"rendered":"

Do you have the statutorily required ERISA bond<\/a><\/strong> in place?\u00a0 Federal\u00a0ERISA section 412<\/a> and related regulations (29 C.F.R. \u00a7 2550.412-1 and 29 C.F.R. Part 2580) require that every fiduciary of an employee benefit plan and every person who handles funds or other property of such a plan, be bonded. ERISA\u2019s fidelity bonding requirements<\/strong> are intended to protect employee benefit plans from risk of loss due to fraud or dishonesty on the part of persons who \u201dhandle\u201d plan funds or other property. \u00a0A plan official must be bonded for at least ten percent of the amount of funds he or she handles, subject to a minimum bond amount of $1,000 per plan with a maximum of $500,000 EXCEPT for those plans containing non-qualified assets. DON’T IGNORE THIS OBLIGATION. \u00a0The\u00a0Department of Labor<\/a>\u00a0can easily monitor whether the\u00a0ERISA fidelity bond<\/a><\/strong>\u00a0requirements have been met. \u00a0Plan administrators are obligated to file a federal\u00a0Form 5500 schedule H<\/a>\u00a0annually, which asks specifically if the plan is bonded and the plan’s dollar amount. \u00a0Civil AND criminal penalties can AND HAVE BEEN applied for failure to fulfill this very basic statutory requirement. \u00a0The nation’s leader in surety,\u00a0Surety One, Inc.<\/a>,\u00a0is one of the largest writers of ERISA bonds<\/strong>. \u00a0We will bond plans with non-qualifying assets, ESOPs, labor union and multi-employer plans. Visit us at\u00a0www.ERISA-Bonds.com<\/a>, call anytime at\u00a0(787) 333-0222\u00a0or\u00a0(800) 373-2804, or email\u00a0Underwriting@SuretyOne.com for an ERISA bond<\/strong> application or any bonding need.<\/p>\n","protected":false},"excerpt":{"rendered":"

Do you have the statutorily required ERISA bond in place?\u00a0 Federal\u00a0ERISA section 412 and related regulations (29 C.F.R. \u00a7 2550.412-1 and 29 C.F.R. Part 2580) require that every fiduciary of an employee benefit plan and every person who handles funds… Continue Reading →<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[5,7],"yoast_head":"\nERISA Bond • Surety One, Inc.<\/title>\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\/erisa-bond\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ERISA Bond • Surety One, Inc.\" \/>\n<meta property=\"og:description\" content=\"Do you have the statutorily required ERISA bond in place?\u00a0 Federal\u00a0ERISA section 412 and related regulations (29 C.F.R. \u00a7 2550.412-1 and 29 C.F.R. 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