Fidelity Bond Coverage

[KevinMc]

Is a fidelity bond required for a plan with less than $100,000 in assets where all participants (2 or 3) are HCE's?

Thanks for help.

[401_noob]

Have you consulted FAB 2008-04

http://www.dol.gov/ebsa/regs/fab2008-4.html%C2'>

The background says "A plan official must be bonded for at least 10% of the amount of funds he or she handles, subject to a minimum bond amount of $1,000 per plan with respect to which the plan official has handling functions."

If it were only 2 HCE's that were husband & wife, then the Plan wouldn't be subject to Title 1 of ERISA and therefore wouldn't need a bond.

Those are my thoughts though.