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How much does a Nevada legal document preparation service bond cost?
The cost of a Nevada legal document preparation service bond — sometimes called a legal document assistant bond — is determined by an underwriter and is based on the legal document preparer’s qualifications, as well as the amount of the bond. However, highly qualified applicants could be approved for less than 1% of the total bond amount.
Update: Nevada tax preparers are now required to obtain legal document assistant bonds between $25,000 and $200,000 to legally operate within the state. Apply online for your free, no-obligation quote!
Why do document preparation services need a bond?
The Nevada Secretary of State requires a $25,000 legal document preparer surety bond from individuals and a $25,000-$200,000 surety bond from businesses based on the number of registrants they employ. Legal document assistants are considered to be those who charge a fee to prepare legal documents for the public and the bond is required as a means of ensuring document preparers perform all duties entrusted to them pursuant to NRS Chapter 240A. If the preparer fails to comply with these terms, the bond protects harmed parties from financial loss up to the full penal sum of the bond.
Assembly Bill 324 was enacted in July 2017 and expands the definition of of document preparation service to include those who assist in the preparation of federal or state tax returns, certain paralegals, and bankruptcy petition preparers.
Issuing your Nevada legal document assistant bond
Before your legal document assistant surety bond can be issued you will want to verify the name and address of the document preparer was provided exactly as it is to appear on the bond form. Once payment is received, your bond will be issued and a copy will be sent to the email address provided to us.
Because the Secretary of State requires document preparers to provide original bonds with a raised seal, we will mail the bond to your preferred mailing address. If you need your bond in a hurry, we offer overnight shipping to get the bond in your hands the very next business day. Two-day and three-day shipping options are also available.
How to become a registered legal document preparation service in Nevada
Due to the sensitive nature of materials handled by legal document preparers, there are several requirements to be met prior to being registered:
- Submit to a background check/fingerprinting
- Provide applicant and business information
- Submit a surety bond between $25,000 and $200,000
- Provide evidence of a valid Nevada business license