The Idaho State Treasurer’s Office serves as custodian for securities required by the Idaho Industrial Commission from companies desiring authority to write workers’ compensation insurance in the State of Idaho. This deposit is held in trust for the exclusive benefit of holders of obligations of the insurer under the workers’ compensation laws of Idaho and remains with the Idaho State Treasurer or its custodial bank to answer any default of the insurer.

Please review the following Idaho Industrial Commission documents:

 

 

 
Security Types Accepted for Deposit
  • U.S. Treasury Bills
  • U.S. Treasury Bonds
  • U.S. Treasury Notes (no TIPS) 
  • Cash or cash equivalent
  • Idaho Municipal Bonds (allowed for Insurance Companies only)   

 

 

Custody Agreement & Instructions

The Principal Financial Group has acquired Wells Fargo’s Institutional Retirement & Trust business as of July 2019. The effective date for transition to Principal is February 22, 2022. There will be a quiet period between December 1, 2021 and February 21, 2022 when no new Wells Fargo/Principal accounts will be added. Please plan accordingly.

 

Forms (scroll down for appropriate bank)

US Bank

Wells Fargo Bank

The Principal Financial Group has acquired Wells Fargo’s Institutional Retirement & Trust business. The effective date for transition to Principal is February 22, 2022. At this time, no new accounts will be onboarded, but you may still request to exchange or add securities. Please coninue to reference Wells Fargo Bank on correspondence until 2-22-22.

Zions Bank

 

Contacts
  • Idaho State Treasurer's Office - Angela Bonaminio - (208) 332-2998 
  • US Bank - Tia Jay - (314) 418-1531
  • Wells Fargo Bank - Rachel West (254) 761-6985
  • Zions Bank - Twyla Lehto - (208) 501-7493