Nevada Document Preparation Services Surety Bond
Nevada Document Preparer Bond is required by anyone in the state of Nevada who is performing document preparation services. The State of Nevada requires registration with the Nevada Secretary of State as a Document Preparation Service provider and a Document Preparation Services Surety Bond in the a minimum amount of 25,000. A document preparation service is described as any person who charges a fee to a client to assist in certain legal matters. A document preparation service is any person who for a fee and under the direction of their client(s) , provides assistance in certain legal matters.
How much does a Nevada (NV) Document Preparation Service Surety Bond Cost?
|Bond Amount Required||Cost||Requirements|
|$25,000||$125 per year||Individual Registrant|
Instant Issue, No Underwriting!
|$25,000||$125 per year||Business - employs 1 registrant (the bond must be in the name of the individual document preparer)|
Instant Issue, No Underwriting!
|$50,000||$250 per year*||Business - employs at least 2 but not more than 25 registrants|
|$75,000||$375 per year*||Business - employs at least 26 but not more than 75 registrants|
|$100,000||$500 per year*||Business - employs at least 76 but not more than 125 registrants |
|$150,000||$750 per year*||Business - employs at least 126 but not more than 200 registrants |
|$200,000||$1000 per year*||Business - employs more than 200 registrants|
* based upon qualification of the applicant(s)
Who is required to be licensed as a NV Document Preparer?
The Nevada Secretary of State website has further definitions of a Document Preparation Service which includes without limitations the following:
•Preparing or completing any pleading, application or other document for the client
•Translating an answer to a question posed in such a document
•Securing any supporting document, such as a birth certificate, required in connection with the legal matter
•Submitting a completed document on behalf of the client to a court or administrative agency, or
•Preparing or assisting in the preparation of all or substantially all of a federal or state tax return or claim for a tax refund
•A paralegal who performs one or more of the actions described unless the paralegal works under the direction and supervision of an attorney authorized to practice law in this State,
•A bankruptcy petition preparer as defined by section 110 of the United States Bankruptcy Code, 11 U.S.C. § 110, or
•Holds himself or herself out as a person who provides such services.
In July 2017, Assembly Bill 324 further expands the definition of Document Preparation services to include:
•A person who, for compensation, assists a client in preparing all or substantially all of a federal or state tax return or a claim for a tax refund;
•Certain paralegals; and
•Clarifies that a bankruptcy petition preparer is included in the definition.
The bill also excludes from the definition of “document preparation service” certain attorneys who are licensed to practice in other states and the District of Columbia and a certified public accountant who is licensed in this State or a financial planner who is subject to NRS 628A.
How does the NV Document Preparer Bond work?
Nevada state law has protections and remedies for consumers to prevent violations of conducts by document preparation services. Hence the requirement for a Document Preparation Services Bond in the state of NV.
The document preparation bond in Nevada provides a form of protection for the clients of all document preparers. The bond is there to ensure that the document preparer conduct service in an ethical, professional and acceptable manner according to Nevada state regulations. If the document preparer violates state regulations that harms their client or the client’s interest, the client can seek damages and file a claim against the bond. If the claim is upheld, the surety bond will pay on the claim, which would then become the responsibility of the document preparer to settle payouts from the claim. Such claims and incidents would lead to a cancellation of the bond and an end to the document preparers services since a Document Preparer Service Bond is required to conduct business services since a Document Preparer Service Bond is required to conduct business in Nevada.
As outlined in NRS Chapter 240A which governs the registration and conduct of document preparers in NV, The Document Service Preparation service in Nevada is required to provide a list of conditions including:
(a) Indemnification to a client or any other person who is determined in an action or proceeding to have suffered damage as a result of:
(1) An act or omission of the registrant, or an agent or employee of the registrant, which violates a provision of this chapter or a regulation or order adopted or issued pursuant thereto;
(2) A wrongful failure or refusal by the registrant, or an agent or employee of the registrant, to provide services in accordance with a contract entered into pursuant to NRS 240A.190;
(3) The fraud, dishonesty, negligence or other wrongful conduct of the registrant or an agent or employee of the registrant; or
(4) An act or omission of the registrant in violation of any other federal or state law for which the return of fees, an award of damages or the imposition of sanctions have been awarded by a court of competent jurisdiction in this State; or (b) Payment to the Secretary of State for any civil penalty or award of attorney’s fees or costs of suit owing and unpaid by the registrant to the Secretary of State pursuant to NRS 240A.120.
The bond is to be in full force and effect for the duration of the registration until it is suspended, revoked or released by the state.
How do I get a Nevada (NV) Document Preparation Service Surety Bond?
A Document Preparation Service Bond in Nevada is a simple process! A1SuretyBonds.com utilizes an online application process that takes less than 2 minutes to complete. All you need to apply is:
•Your home address
•Your Social Security Number