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This version of the form is not currently in use and is provided for reference only. Download this version of
Form SDD
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Form SDD Surety Deposits for Non-minnesota Contractors - Minnesota
What Is Form SDD?
This is a legal form that was released by the Minnesota Department of Revenue - a government authority operating within Minnesota. As of today, no separate filing guidelines for the form are provided by the issuing department.
FAQ
Q: What is an SDD surety deposit?
A: An SDD surety deposit is a form of financial security required for non-Minnesota contractors performing work in Minnesota.
Q: Who needs to submit an SDD surety deposit?
A: Non-Minnesota contractors who are performing work in Minnesota are required to submit an SDD surety deposit.
Q: Why is an SDD surety deposit required?
A: The SDD surety deposit serves as a form of financial protection for Minnesota homeowners and businesses in case the contractor fails to fulfill their obligations.
Q: How much is the SDD surety deposit?
A: The amount of the SDD surety deposit is determined based on the contract amount and can vary.
Q: How can I submit the SDD surety deposit?
A: The SDD surety deposit can be submitted through a certified check or bond.
Q: Are there any alternatives to the SDD surety deposit?
A: Yes, contractors can provide an approved bond or an irrevocable letter of credit in lieu of the SDD surety deposit.
Q: What happens if the contractor fails to submit the SDD surety deposit?
A: If the contractor fails to submit the SDD surety deposit, they may be subject to penalties and may not be able to legally perform work in Minnesota.
Q: How long is the SDD surety deposit held?
A: The SDD surety deposit is held for a period of three years after the completion of the contract.
Q: Can the SDD surety deposit be returned?
A: Yes, the SDD surety deposit can be returned to the contractor if there are no claims against it.
Form Details:
- Released on December 1, 2017;
- The latest edition provided by the Minnesota Department of Revenue;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of Form SDD by clicking the link below or browse more documents and templates provided by the Minnesota Department of Revenue.
