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 2022. There will be a quiet period between November 30, 2021 and February 21, 2022 when no new Wells Fargo/Principal accounts will be added. Please plan accordingly.
Forms (scroll down for appropriate bank)
Wells Fargo Bank
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 21, 2022. Until that date, all correspondence & documents should reference Wells Fargo Bank.
- Idaho State Treasurer's Office - Angela Bonaminio - (208) 332-2998
- US Bank - Joyce Holznagel - (503) 464-3776
- Wells Fargo Bank - Rachel Avila - (254) 761-6976 or Melissa Stead (254) 761-6988
- Zions Bank - Twyla Lehto - (208) 501-7493