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
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 anticipated effective date for transition to Principal is February 2021. Until that date, all correspondence & documents should reference Wells Fargo Bank.
- Idaho State Treasurer's Office - Angela Bonaminio - (208) 332-2998
- US Bank - Stephen Nolan - (503) 464-4475
- Wells Fargo Bank - Rachel Avila - (254) 761-6976 or Payal Bhakta (254) 761-6943
- Zions Bank - Twyla Lehto - (208) 501-7493