ME payroll processor bonds.
From $100. Enter your amount.
Maine licenses payroll processors through the Bureau of Consumer Credit Protection, and conditions the license on a surety bond under 10 M.R.S. §1495-E. The amount is tied to the tax payments you process. The premium is 2% of the bond amount, $100 minimum — your exact price appears at the application.
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Apply to filed in one sitting.
No underwriting queue for the standard payroll processor bond — enter your amount, pay, and file with the Bureau. Here is the whole thing:
Apply online
Your business details, the bond amount your volume requires, and the effective date — that is the entire application.
Issued on the spot
Most applicants are approved and issued instantly. If a check runs, it is a soft pull that never affects your credit score. Larger amounts may get a quick review.
File with the Bureau
Submit the executed bond — Maine now requires payroll processors to file through the NMLS electronic surety bond (ESB) system, and we issue in the format the Bureau accepts. Wet-ink originals mailed whenever they insist.
What it is and who needs it.
What the payroll processor bond actually covers
A payroll processor handles other employers’ money — collecting funds and remitting state, federal and local taxes and unemployment-insurance premiums on their behalf. Maine licenses these firms through the Bureau of Consumer Credit Protection and requires a bond so employers are protected if the processor mishandles or fails to remit those funds.
Under 10 M.R.S. §1495-E, the bond amount equals the total of all tax payments and unemployment-insurance premiums the processor handled for Maine employers during its highest 3-consecutive-month period in the prior calendar year, or $50,000 — whichever is greater — but not more than $500,000. It designates the administrator (the Bureau) as payee, for the benefit of any harmed employer.
It is a three-party guarantee, not insurance for you: if the surety pays a claim, you repay the surety. The bond runs continuously until cancelled and must stay at the required amount the whole license period — we track it and notify you 60 and 30 days out.
You need this bond if you are
One application, issued on the spot.
Submit the application with your required bond amount — the executed bond is generated instantly, ready to file with the Bureau.
Start the application →Common questions.
Other Maine bonds.
Payroll processor bond, issued today.
Pricing from $100. Enter the amount your volume requires and file the same day.