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Chubb Group of Insurance Companies 15 Mountain View Road Warren New Jersey 07059 FIDUCIARY FIDELITY BOND FOR EMPLOYEE BENEFITS PLAN ERISA BOND RENEWAL APPLICATION BY COMPLETING THIS RENEWAL APPLICATION YOU ARE APPLYING FOR COVERAGE WITH FEDERAL INSURANCE COMPANY THE COMPANY NOTICE PLEASE ANSWER ALL OF THE FOLLOWING INQUIRIES. IF THE COMPANY AGREES TO ISSUE A BOND ALL OF THE INFORMATION WHICH THE APPLICANT PROVIDES WILL BECOME PART OF ANY BOND IS.

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Protect Your Employee Benefit Plan With An ERISA...
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The ERISA fidelity bond, also known as an employee dishonesty bond, is a legal requirement arising from ERISA to protect plans against losses resulting from an act of fraud or dishonesty by persons handling a plan's assets.

All employee benefit plans, including 401(k) plans, must be protected by a fidelity bond.

An ESOP's fidelity bond coverage is based on the funds held by the plan at the beginning of each year. The ERISA requirement is 10 percent of these funds, with a minimum requirement of $1,000. No bond is required to exceed $500,000 (or $1 million for plans that hold employer securities such as an ESOP). Fidelity Bonds Are Your Friends - FORVIS forvis.com https://.forvis.com › article › 2019/05 › fidelity-bon... forvis.com https://.forvis.com › article › 2019/05 › fidelity-bon...

Things to consider when applying for an ERISA bond Every fiduciary of an employee benefit plan, as well as every person who handles the funds of such a plan, needs to be bonded in an amount equal to 10% of the funds handled. ERISA Bond Guide | SuretyBonds.com suretybonds.com https://.suretybonds.com › erisa-bonds suretybonds.com https://.suretybonds.com › erisa-bonds

There are no specific penalties. However, there are substantial risks associated with not meeting ERISA's bonding requirements, including: Failing to report a sufficient bond on the Form 5500 can trigger a plan audit. It's unlawful under ERISA for plan officials not to be bonded.

Generally, a bond must be for at least 10% of the amount of funds handled by the covered person in the preceding plan year but not less than $1,000. The maximum required bond generally is $500,000, but for plans like yours that hold employer securities, the maximum is $1 million. What Is ERISA's Bonding Requirement for Our 401(k) Plan? thomsonreuters.com https://tax.thomsonreuters.com › blog › what-is-erisas-bo... thomsonreuters.com https://tax.thomsonreuters.com › blog › what-is-erisas-bo...

There are minimum and maximum limits prescribed for the ERISA fidelity bond value, with a requirement of a minimum bond value of $1,000 and a maximum bond value of $500,000 (or $1 million if the plan has investments in an employer's securities). Employee Benefit Plan and ERISA Fidelity Bond - EisnerAmper eisneramper.com https://.eisneramper.com › employee-benefit-plan-c... eisneramper.com https://.eisneramper.com › employee-benefit-plan-c...

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232