How Do I Know If I Qualify For a ERSIA Bond?
Those who manage investment or employee benefit plans are obligated to obtain an ERSISA bond on behalf of the plan itself. Any benefit administrators or fiduciaries that perform any of these duties are also required to possess a bond. In addition to ERISA, the Internal Revenue Code requires these bonds under the Internal Revenue Code Part 825 and Part 830 of the Code. Both of these laws require the ERSISA bond to cover any investment management, investment administration, investment planning, investment selection, investment distribution, investment transfer, insurance policy administration, tax returns, and related functions. A sample ERSIA bond requirement can be found on the ERISA website, at the link entitled ERISA Bond Requirements 2020. In this document, you will see a comprehensive listing of all of the different types of duties and responsibilities that need to meet the requirements of an ERISA bond. A representative sample of the ERISA Bond Requirements 2020 is ...