Is an ERISA Bond Required?
ERISA generally requires bonding for people who handle an employee benefit plan’s funds or property, subject to exceptions.
The required bond protects the plan against specified dishonest acts.
DOL’s bulletin explains the handling test, who is responsible for ensuring bonding, bond form and surety requirements, and how to calculate the amount. Determine which people can cause plan property to be paid, transferred, or accessed; then check if an exemption applies. Confirm the plan is protected under the bond and document the amount, covered handlers, and renewal dates. This bond is distinct from fiduciary liability insurance.
Which Providers Offer Fiduciary Liability and ERISA Bonds?
3 documents, numbered as cited. Open the sources