Who requires it
Idaho Department of Finance — Collection Agency Act
License & permit · Idaho
Idaho Collection Agency Bond
Idaho Collection Agency Act licensees must file a surety bond with the Department of Finance before the license issues. Idaho Code § 26-2232 starts new applicants at fifteen thousand dollars. On renewal, the amount is the greater of fifteen thousand dollars or two times the preceding year’s average monthly net collections, rounded up to the next thousand, and capped at one hundred thousand dollars. The same chapter licenses collection agencies, debt counselors, credit counselors, and credit repair organizations, so those activities share this bonding schedule rather than separate statewide bonds.
Common bond amount
$15,000–$100,000
Initial $15,000; renewal = greater of $15,000 or 2× average monthly net collections (to next $1,000), max $100,000 (Idaho Code § 26-2232).
How you file
File a Department of Finance Collection Agency Act bond, or an Idaho CD
Renewal
Annual net-collections recalculation; 30-day cancellation notice
Who requires it
Persons required to hold a Collection Agency Act license under Idaho Code § 26-2223—including collection agencies, debt counselors, credit counselors, credit repair organizations, and other activities the Department of Finance administers under the Act—before operating in Idaho.
How much is required
New licenses use fifteen thousand dollars. At renewal, supply a statement of the preceding year’s net collections. Section 26-2232 then requires the greater of fifteen thousand dollars or two times average monthly net collections for that year, computed to the next highest one thousand dollars, up to one hundred thousand dollars.
How to get and file it
Complete the Department of Finance Collection Agency Act application path (paper or NMLS, as directed), have an Idaho-authorized surety execute a director-prescribed bond to the state of Idaho in the required amount—or provide an accepted certificate of deposit—and file it before the license issues. File the annual activity report, surety-bond calculation form, and fees on the Department’s schedule (activity report and calculation form before March 15). Keep continuous coverage; surety cancellation requires at least thirty days’ registered or certified notice to the licensee and the director. Certificates of deposit must remain at least three years after discontinuance unless the director releases them earlier.
Cost note
Fifteen thousand to one hundred thousand dollars is the required bond amount, not the premium you pay. See bond amount vs premium. Bond amount vs premium →
Requirement checklist
- Initial amount
- $15,000
- Renewal formula
- Greater of $15,000 or 2× average monthly net collections (rounded up to next $1,000)
- Maximum amount
- $100,000
- Covered license types
- Collection agencies, debt/credit counselors, credit repair organizations, and related ICAA permittees
Official sources
Related resources
Frequently asked questions
Do Idaho credit repair companies need a different bond?
No separate statewide credit-repair surety exists outside the Collection Agency Act. Credit repair organizations license under § 26-2223 and post the § 26-2232 bond (or CD) with the Department of Finance.
When does the collection bond increase above $15,000?
At renewal, if two times the preceding year’s average monthly net collections—rounded up to the next thousand—exceeds $15,000, that higher figure becomes the required amount, up to $100,000.
Related Idaho bond guides
Money Transmitter Bond
$10,000–$500,000
Idaho money transmitter applicants and licensees must maintain a surety bond, irrevocable letter of credit, or similar security the director accepts under Idaho Code § 26-2908. The floor is ten thousand dollars. Each additional location or authorized-representative path adds five thousand dollars, up to a five-hundred-thousand-dollar maximum. The security runs to the state for people with claims against the licensee’s money-transmission obligations.
Notary Public Bond
$10,000
Idaho notary applicants must submit a ten-thousand-dollar bond with the Secretary of State application under Idaho Code § 51-121. The bond covers notarial acts during the six-year commission term. A notary may perform notarial acts in Idaho only while a valid bond remains on file with the Secretary of State.
Public Adjuster Bond
$20,000
Before Idaho issues a public adjuster license—and while that license remains active—the applicant must keep twenty thousand dollars of financial responsibility on file with the Department of Insurance. Idaho Code § 41-5812 accepts either a surety bond from an insurer authorized in Idaho or an irrevocable letter of credit from a qualified financial institution. When that security ends or becomes impaired, the adjuster’s authority to act stops automatically until replacement proof is accepted.
Surety basics (not repeated here)
Universal surety concepts explained once—linked here instead of repeated on every state or bond page.
Continue with a Idaho application
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Last verified 2026-08-11. This guide is based on verified educational content and official sources.
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