Audits and recordkeeping: Bail bonds

Recordkeeping requirements

By law, you must:

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 (client liability vs. bank 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

For an overview of recordkeeping requirements and audit procedures, see Audits and Recordkeeping Procedures.

Would you pass a recordkeeping audit? Use the Self Audit Checklist to see if you could pass the test.