As trustee of the new 401(k) Plan will I be required to purchase a fidelity bond?

In general, if your business will have full-time employees who are not also shareholders, the 401(k) Plan will be fall under the ERISA rules and as a result each trustee will be required to be bonded. The cost of acquiring a fidelity bond is approximately $100 per year and the IRA Financial Group will coordinate with the third-party Plan administrator to assist you in this regard.

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