Federal Bonding Program Information

Region 1 Workforce Development Board is providing information on the Federal Bonding Program, which offers free fidelity bonds to employers hiring at-risk individuals, covering up to $10,000 for employee theft during the first six months.

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The Federal Bonding Program provides fidelity bonds to employers at no cost, guaranteeing honesty for at-risk, hard-to-place, and criminal justice-involved job seekers. The bonds cover the first six months of employment and reimburse employers up to $10,000 for any loss due to employee theft of money or property. Eligible individuals include justice-involved men, women, and youth; individuals in recovery from substance abuse; TANF recipients; those with poor credit records; economically disadvantaged youth and adults with little or no work history; and individuals dishonorably discharged from the military. The bonds apply to any job, any full- or part-time employee paid wages with federal taxes deducted, including temporary agency hires, but not self-employed people. Access is through an online employer application with no cost or deductible.

Classification Codes
NAICS524298All Other Insurance Related Activities
PSCG009Non-Government Insurance Programs
Smart Codes
fidelity bondsemployee theft insurancehiring incentive program
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