Florida ERISA Bond (1 Year)
- State: Florida
- Bond type: Employee Dishonesty & Fidelity Bond
- Term: 1 Year
- Category: Business Operations Bonds
Buy Florida ERISA Bond (1 Year) online →
Overview
Running a qualified employee benefit plan in Florida comes with a federal obligation most plan sponsors overlook until an auditor asks for it. ERISA requires that every person who handles plan funds or property be covered by a fidelity bond — and that bond must meet specific federal standards. This Florida ERISA Bond satisfies that federal mandate for a one-year term, protecting your plan's participants if a plan fiduciary or handler commits a dishonest act. Get it in place before your next plan audit or compliance review.
Who Needs This Bond?
You administer a 401(k), pension, profit-sharing, or other employee benefit plan and someone on your team touches plan funds — that's who this bond is for. Any Florida employer acting as a plan fiduciary, plan administrator, or plan trustee is required under federal ERISA law to carry this bond. It covers the individuals who handle plan assets, but the obligation to obtain and maintain the bond falls on the plan itself. If you sponsor a qualified plan and haven't bonded your handlers, you're out of compliance.
What is this Bond For?
This bond protects the plan and its participants — not your business's general operations — against losses caused by fraud, dishonesty, or theft committed by a person who handles plan funds. If a covered plan handler steals from the plan, embezzles contributions, or manipulates plan records for personal gain, a valid claim can be filed against this bond. The bond does not cover investment losses, poor fiduciary decisions, or market performance. It is specifically and exclusively a federal fidelity requirement tied to the handling of ERISA-covered plan assets.
When is it Required?
This bond must be in place before any plan handler touches plan funds — not after your next audit notice arrives. ERISA's bonding requirement applies from the moment your plan is active and individuals begin handling its assets. Federal regulators can flag a plan as non-compliant during a DOL audit if the bond is missing or lapsed, which can trigger penalties and require corrective action. A one-year term means you need to renew annually to stay continuously covered.
Where Does it Apply?
This bond is issued for Florida-based plan sponsors and fiduciaries operating qualified employee benefit plans in the state. Because ERISA is a federal law, the underlying compliance obligation applies nationwide, but this bond is specifically issued to meet that requirement for your Florida plan. If your plan operates across multiple states, the bond still applies to your plan's handlers regardless of where they work.
How to Buy Online
Click 'Buy This Bond Online' on this page — it opens the My Bond App portal in a new tab where you can complete your application and purchase immediately. The process is straightforward and designed for plan administrators who need to get compliant fast. Once issued, your bond documents are available digitally so you can provide them to your plan auditor or DOL reviewer without delay.
Why Bond Titan?
Bond Titan is a nationwide surety bond storefront powered by The Southern Agency, built for buyers who need a bond now — not after a week of back-and-forth with an agent. Our online catalog covers ERISA bonds and hundreds of other fidelity and surety products across all 50 states. Buy online, get your documents fast, and move on to running your plan.
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Frequently Asked Questions
How is this ERISA fidelity bond different from a fiduciary liability insurance policy?
They cover completely different risks. This ERISA fidelity bond covers losses to your plan caused by dishonest or fraudulent acts — think theft or embezzlement by a plan handler. Fiduciary liability insurance, by contrast, covers your plan administrators against claims that they made a bad fiduciary decision, breached their duties, or mismanaged the plan. ERISA specifically requires the fidelity bond by law; fiduciary liability insurance is a separate, optional product. You may carry both, but one does not substitute for the other.
What if a theft is discovered after this bond's one-year term expires — am I still covered?
ERISA fidelity bonds are typically written on a discovery basis, meaning coverage applies when the dishonest act is discovered, not necessarily when it occurred. However, coverage terms vary, and a lapsed bond creates a gap in protection. The safest approach is to renew your bond before the current term expires so there is no break in coverage. If a theft occurred during an active term but is discovered after expiration, whether a claim is honored depends on the specific bond form — review your bond language carefully and maintain continuous renewal.
How do I determine the right bond limit for my ERISA plan?
Federal law sets a floor: your ERISA bond must cover at least 10% of the plan assets handled at the beginning of the plan year, subject to a statutory minimum and a maximum cap. If a specific vendor agreement, plan document, or DOL audit letter specifies a higher amount, that higher number controls. Review your most recent plan asset valuation to calculate the required minimum, and check any contractual or regulatory correspondence that names a specific bond amount. When in doubt, bonding above the minimum provides additional protection for your participants.
What happens after I click Buy This Bond Online?
You'll open the My Bond App portal in a new tab where you can complete the secure online bond application and finish your purchase. Your Bond Titan tab stays open so you can come back and keep browsing.
Can I buy this bond entirely online?
Yes. Bond Titan connects you directly to the online bond application — there's no paperwork to mail in and no agent appointment required to get started.
Is Bond Titan a licensed agency?
Bond Titan is powered by The Southern Agency, a licensed surety bond agency. We've built Bond Titan so you can find the exact bond you were told to buy and get to the purchase flow in seconds.