Social Security Rep Payee Bonds
Secure | No Obligation | Takes 2 Minutes
What Are Social Security Representative Payee Bonds?
A Social Security representative payee bond protects people participating in the Representative Payment Program from theft and financial loss under Section 205 of the Social Security Act (SSA). The SSA requires these bonds for all representative payees receiving and managing social security or supplemental security income on behalf of a beneficiary.
How Much Are Social Security Rep Payee Bonds?
A Social Security representative payee bond costs a small percentage of the total bond amount, typically 1–10%. Your bond amount will equal the sum of the following:
- The average monthly Social Security payments
- The beneficiaries’ conserved funds
- Interest on hand
Once you know your bond amount, apply online for a personalized quote or call to speak with a surety expert.
How Do Social Security Representative Payee Bonds Work?
By filing a Social Security representative payee bond, you agree to act in the beneficiary’s best interest. Prohibited activities under this bond include, but are not limited to, the following:
- Signing legal documents, other than Social Security documents
- Taking legal authority over earned income, pensions, or any income from sources other than Social Security or SSI
- Using a beneficiary's money for personal expenses
- Spending funds in a way that leaves the beneficiary without necessary items or services
- Keeping conserved funds once you are no longer the payee
- Charging the beneficiary for services not authorized by SSA
For the full list of prohibited activities, visit the Social Security Payee FAQ page.
If you fail to meet these terms, the surety company will pay claims to harmed individuals up to the full bond amount, which you would need to reimburse.
How to Apply for a Social Security Rep Payee Bond
To get started, submit a quote request now. We’ll need the following information for your application:
- Personal financials
- Business financials
- A resume of experience
Once you submit your application materials, we’ll provide a quote and invoice so you can purchase your bond at any time. Our surety experts are here to help with the application process. Call 1 (800) 308-4358 for assistance.
How Do I Renew My Social Security Representative Payee Bond?
Social Security rep payee bonds expire annually. A SuretyBonds.com representative will contact you with renewal instructions and an invoice to keep your bond active before your term ends.
If you don't file your renewal paperwork with the Social Security Administration before your current surety bond expires, you'll need to file a new bond.
Can I Get a Social Security Rep Payee Bond With Bad Credit?
Our experts work hard to approve 99% of applicants for the surety bonds they need, despite low credit scores or other financial issues. After you apply, our surety underwriters will perform a soft credit check to determine your rate and whether we need to review any additional documentation.
Learn more about our Bad Credit Surety Bonding Program.
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Have Questions?
Call 1 (800) 308-4358 to talk with a Surety Expert today.
