Those who collect Social Security or Supplemental Security benefits on behalf of a beneficiary must get this bond.

Non-government Fee for Service organizations are subject to specific bonding requirements. In order to be authorized by Social Security (SSA) to collect a fee, a non-governmental FFS organization must be bonded. It is Social Security’s mission to equip and educate FFS organizations with all the tools and resources to assist those in need of the services.

Social Security Administration Rep Payee Bond

What Is This Bond For and What Does It Do?

The bond protects the Representative Payee from financial loss that is caused by action or inaction of the organization. By protecting the representative payee from financial loss, the bond provides financial coverage by paying for loss of or damage to money, property, or securities from theft by an employee. Theft from officer(s) is also included in the bond coverage.

Obligee and Bonding Requirements

United States Social Security (the obligee) requires the FFS organization (the principal) to be bonded. Part of the bonding requirements is to be approved and licensed by Social Security. Fees cannot be collected until a written approval has been produced by SSA.

As noted, a FFS must apply for approval before bonding can be granted. The obligee requires this, not the surety company. Listed below are the documents that are required of the organizational payee for the FFS application process.

The director must sign all documents:

  • SSA-445 form
  • EIN
  • Organization’s mission statement
  • Organization’s area of service
  • Statement of charges the organization currently imposes
  • Beneficiary names and SSNs

Bond Amount and Bond Cost

The bond amount must equal the amount of the beneficiaries’ conserved funds on hand as well as the monthly average of social security payments earned by the organization. It is required for the organization to have at least the minimum coverage in order to be authorized to collect a fee.

The cost for the bond is also referred to as the bond premium. The bond premium is the one cost that the surety company sets. All other fees that are related to the bond are set by the obligee. The bond premium is only a small percentage of the bond amount.

The bond amount is set by the obligee, not the surety company. A bond amount is the amount of coverage the surety company will pay out to the state or federal government if a claim is filed against the bond.

Does This Bond Renew?

To find out the state specific renewal dates and length of bond validity, the principal can contact Social Security. This is a detailed guide provided by the Social Security Administration.


How to Get Your Social Security Administration Rep Payee Bond

  1. Complete an online application. It’s free and no-obligation.
  2. One of our surety experts will contact you with a firm quote and an agreement to sign.
  3. Provide payment and your signed agreement, and then you will receive your Surety Bond!

If you have any questions, please call us at 877-654-2327.

How to Get Bonded

1. Apply Online
Using our Free & Secure Application
2. Get Your Free Quote
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3. Get Your Bond
Most Bonds are Approved in 1-2 Business Days

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