New York resident's personal funds trust bonds.
From $100.
The bond New York requires when your facility holds residents' personal funds in trust. It guarantees you safeguard and return each resident's money — premiums start at $100, issued instantly for most, no credit check up to $250,000, ready to file the same day you apply.
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How much does a New York resident's personal funds trust bond cost?
1% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
This bond is instant-issue — there is no underwriting queue to wait in. Here is the whole thing:
Apply online
Your facility details, an effective date, and the penal sum — the total resident personal funds you hold in trust. 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 DOH
Keep the executed bond on file for your residential health care facility licensure. Wet-ink originals mailed whenever the Department of Health insists on them.
What it is and who needs it.
What the resident funds bond actually covers
When a New York nursing home or residential health care facility holds a resident's personal funds — the spending money or trust account a facility keeps on a resident's behalf — it must protect that money with a surety bond. The bond guarantees the facility safeguards, accounts for, and returns each resident's funds.
The requirement runs through the Public Health Law and 10 NYCRR § 415.26, which directs the facility to purchase a surety bond (or provide equivalent security) to assure the security of all resident personal funds it deposits or holds. Adult care facilities carry a parallel obligation under their own regulations.
Because the bond is statutory and the obligation is straightforward, it is instant-issue for most applicants: no financial statements, no underwriter queue. From $300,000, the check is a soft pull that never affects your score. You apply, pay a premium starting at $100, and have the executed bond the same day.
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 DOH. Keep the executed bond on file for your residential health care facility licensure. Wet-ink originals mailed whenever the Department of Health insists on them.
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 the resident funds you hold as the penal sum — the executed bond is generated instantly, ready to keep on file.
Start the application →Common questions.
Other New York bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Resident funds bond, issued today.
Instant issue for most, premiums from $100. Keep it on file the same day you apply.