Audits and recordkeeping: Bail bonds
Recordkeeping requirements
By law, you must keep the following records for at least 3 years:
- Bank trust account records
- Duplicate receipt books or receipt journals
- Prenumbered checks
- Check registers or cash disbursement journals
- Validated bank deposit slips
- Reconciled bank monthly statement
- All canceled checks and voided checks
- Client information, including:
- Defendant’s name
- Application form
- Transaction records, including transaction dates, amount received, amount disbursed, current balance, check number, and items covered
- Indemnitor’s and indemnity agreements
- Premium receipts
- Collateral receipts
- Letters of forfeiture or surrender forms
- Letters of demand and affidavits, if surrendered before a forfeiture has occurred
- Any written information or communications that may influence the bail bond or collateral
- A transaction folder or file containing a copy of all agreements, invoices, billings, and related correspondence for each transaction
- Records of all collaterals, securities, or monetary instruments received or held in the bail bond business transactions
- Records of training and continuing education for each bail bond agent employed in the agency
- Records of exoneration of all bail bond transactions, including:
- Court, citation, or case number
- Date the bail was issued
- The defendant’s name, address, and telephone number
- Amount of the bond
- Name of the court
- Date of exoneration of the bond
These records must be readily available so we can audit them. For an overview of recordkeeping requirements and audit procedures, see Audits and Recordkeeping Procedures.
Self audit checklist
Would you pass a recordkeeping audit? Use the Self Audit Checklist to see if you could pass the test.
