Iowa resident trust fund bonds.
From $100.
When an Iowa health care facility holds residents’ personal funds in trust, Iowa Code 135C.21 requires it to safeguard those funds — a surety bond is the common way to do it. The bond is priced at 1% of the bond amount, $100 minimum; enter the amount sized to the funds you hold and your exact price appears in the on-page calculator.
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How much does an Iowa resident trust fund bond cost?
1% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
No underwriting queue for the standard resident trust fund bond — enter your amount, pay, and file. Here is the whole thing:
Apply online
Your facility details, the bond amount sized to your resident trust funds, and the effective date — that is the application.
Issued on the spot
No credit check up to $250,000. Above that, the carrier may run a soft pull, which never affects your score.
File with the licensing department
Submit the executed bond to the Iowa licensing department with your facility license. Wet-ink originals mailed whenever the department insists.
What it is and who needs it.
What the resident trust fund bond actually covers
When a resident of an Iowa health care facility (nursing facility, residential care facility, ICF) deposits personal spending money with the facility, the facility holds it in trust for the resident. Iowa Code 135C.21 governs the handling of those resident funds and requires the facility to safeguard them so a resident is never deprived of their own money.
A surety bond is the common way to provide that safeguard. The bond is payable for the benefit of residents: if the facility misapplies or fails to return a resident’s trust funds, the harmed resident (or their estate) can recover against the bond up to its amount.
Because the exposure is the dollars you hold, the bond amount is sized to your resident trust funds — confirm the figure with the licensing department, enter it, and premiums start from $100; no credit check up to $250,000. If the surety pays a claim, the facility repays the surety.
You need this bond if you are
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
File with the licensing department. Submit the executed bond to the Iowa licensing department with your facility license. Wet-ink originals mailed whenever the department insists.
What sets the price
The premium is 1% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not your business profile.
No credit check up to $250,000. Above that, the carrier may run a soft pull, which never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, issued on the spot.
Submit the application with your required bond amount — the executed resident trust fund bond is generated instantly, ready to file.
Start the application →Common questions.
Other Iowa bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Resident trust fund bond, issued today.
From $100. Enter your required amount and file the same day.