Blue Ridge ESOP Associates Industry News

Protect your ESOP from Fraud with Fidelity Bond Coverage

Posted by Kim M. Thompson

May 22, 2017 3:51:41 PM

Fidelity Bond Coverage for your ESOP

When preparing or reviewing your ESOP’s Form 5500 annual return, you may notice that Line 4e on Schedule H for large plans and Schedule I for small plans asks the following: “Was this plan covered by a fidelity bond?” It is important to not only make sure that your ESOP is covered by a fidelity bond, but that you have the required amount of coverage each year and that you relay this information to your third-party administrator or the party responsible for completing your Form 5500.

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Topics: fidelity bond