VA Seeks Comments on Paperwork for Veterans' Fiduciary Bonds
Published Date: 6/18/2025
Notice
Summary
The VA wants your thoughts on updating the Fiduciary Bond info they collect to protect veterans who need help managing their benefits. If you’re involved in this program or just curious, you can comment by August 18, 2025. No big cost changes yet, but they’re aiming to make the process clearer and easier for everyone.
Analyzed Economic Effects
3 provisions identified: 1 benefits, 2 costs, 0 mixed.
Surety Bond Required for Prospective Fiduciaries
The VA (under 38 CFR part 13 and Sec. 13.230) is authorized to require a prospective fiduciary to obtain a surety bond as part of the certification process. Congress authorized this requirement and the collection is covered by OMB Control Number 2900-0804.
Annual Proof of Bonding with Accounting
The VA requires fiduciaries to submit proof of adequate bonding together with their annual accounting to support VA oversight under Sec. 13.230. The information collection is part of OMB #2900-0804 and the agency estimates an average burden of 1 minute per respondent.
Revision Reduces Who Must Send Bond Proof
The proposed revision would reduce the number of individuals required to send VA proof of bonding, meaning fewer respondents must submit that information. The document estimates 10,000 respondents, an estimated annual burden of 167 hours total, and an average burden per respondent of 1 minute.
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