Missouri Professional Employment Organization Bond
AmeriPro Surety Bonds | 844-589-9732
PEOs in Missouri are regulated by the Missouri Department of Labor and Industrial Relations. A condition of licensing is that the appropriate surety bond be furnished.
Our agency offers you the surety bond amount required as dictated by your professional financial condition.
The Amount of Surety Bond Required:
The Missouri professional employment organization bond has two categories, one for companies which are not domiciled in Missouri; a second for companies which are headquartered in the state.
For non-domiciled, transient employers, the amount of surety bond required is:
- In an amount determined by the estimated quarterly tax liability withholding of an applicant;
- However, such surety bond amount will be a minimum of a $5,000 surety bond and a maximum $25,000 surety bond. (Revisor of Statutes, Chapter 285).
For professional employment organizations headquartered in Missouri and which do not have a positive working capital, the amount of surety bond required is:
- The amount of the deficiency, as determined by generally accepted accounting principles, plus $100,000. (Chapter 285.725)
While our agency will help you obtain whatever surety amount is required, you will want to verify the Department how much surety bond is required for your company’s circumstances.
The Premium and Duration
The premium represents the cost of issuance of this bond. As a broad general rule, a PEO company may pay between 1-2% of the bond amount required; however, amounts may vary from company to company.
Once issued, the bond is active for one year from the date of issuance.
The Purpose of this Surety Bond
For company’s which do not have a positive working capital, the purpose of the Missouri professional employment organization bond is to serve as a financial guarantee that all taxes, wages to employees, and other benefits will be paid as they become due.
For transient employers, the surety bond is a financial guarantee which ensures the payments of correct reports and the proper withholding of any taxes, interests, and fees, due to Missouri.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, and fiduciary surety bonds throughout Missouri and nationwide.
Please allow us to help you with your MO PEO surety bond:
Or, you may fill out the form below and an agent will call you….