Form CDI-071 Workers' Compensation Deposit Trust and Security Agreement - California

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Form CDI-071 Workers' Compensation Deposit Trust and Security Agreement - California

What Is Form CDI-071?

This is a legal form that was released by the California Department of Insurance - a government authority operating within California. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form CDI-071?
A: Form CDI-071 is the Workers' Compensation Deposit Trust and Security Agreement used in California.

Q: What does Form CDI-071 entail?
A: Form CDI-071 is a document that establishes a trust account to secure payment of workers' compensation obligations.

Q: Who needs to use Form CDI-071?
A: Employers in California who are self-insured for workers' compensation must use Form CDI-071.

Q: Why is Form CDI-071 important?
A: Form CDI-071 ensures that funds are available to cover workers' compensation obligations in case of default or insolvency.

Q: Is Form CDI-071 specific to California?
A: Yes, Form CDI-071 is specific to California and is used to comply with the state's workers' compensation requirements.

Q: Are there any fees associated with Form CDI-071?
A: Yes, there may be fees associated with establishing and managing the workers' compensation deposit trust account.

Q: What happens if an employer fails to use Form CDI-071?
A: Failure to use Form CDI-071 can result in penalties and legal consequences for non-compliance with workers' compensation laws in California.

Q: Can an employer terminate a workers' compensation deposit trust account?
A: Yes, an employer can terminate a workers' compensation deposit trust account by providing notice and following the required procedures.

Q: Are there any reporting requirements associated with Form CDI-071?
A: Yes, employers are required to provide periodic reports and updates to the California Department of Insurance regarding their workers' compensation deposit trust account.

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Form Details:

  • Released on March 1, 2019;
  • The latest edition provided by the California Department of Insurance;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;

Download a fillable version of Form CDI-071 by clicking the link below or browse more documents and templates provided by the California Department of Insurance.

Download Form CDI-071 Workers' Compensation Deposit Trust and Security Agreement - California

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