Illinois SOS Form RA 17 Bonding Affidavit Guide

Illinois SOS Form RA 17 Bonding Affidavit Guide – The Illinois Secretary of State Form RA 17, officially titled the Bond Affidavit for Remittance Agents, is a critical document for certain financial institutions seeking a remittance agent license. This form allows qualifying banks, savings and loan associations, and credit unions to meet bonding requirements under Illinois law without posting a traditional surety bond. It is issued by the Illinois Secretary of State Vehicle Services Department, Dealer Services section.

This guide explains the purpose of Form RA 17, who must use it, how it relates to Illinois Vehicle Code requirements, and the proper steps for completion and submission. Information is drawn from official Illinois government sources, including the current form (July 2025 edition) and relevant statutes.

What Is Illinois Form RA 17?

Form RA 17 is a sworn affidavit completed by an officer of a chartered banking or savings and loan institution (and, under statute, credit unions). The affiant confirms that the institution is properly chartered and sufficiently bonded to satisfy the requirements of 625 ILCS 5/3-905.

The form is used specifically when the institution applies for a remittance agent license in its own name. Remittance agents accept money from the public for transmission to the State of Illinois (or its instrumentalities) for vehicle taxes, registration fees, or similar payments.

The official form is available as a PDF from the Illinois Secretary of State. Download the current version here: Illinois Form RA 17 – Bond Affidavit for Remittance Agents (PDF).

Purpose of the Bonding Affidavit

Under the Illinois Vehicle Code, most applicants for a remittance agent license must post a surety bond. The bond ensures proper transmittal of funds collected from customers. The minimum bond amount is generally $20,000, or an amount equal to the highest 15-day volume of remittances in the prior fiscal year (rounded to the nearest $1,000), whichever is greater. Certain payments made directly to the Secretary of State or Department of Revenue by money order, check, or electronic means are excluded from the calculation.

Banks, savings and loan associations, and credit unions chartered by the State of Illinois or the United States are exempt from this surety bond requirement if they file an affidavit stating they are already sufficiently bonded to meet the statutory standards. Form RA 17 serves as that required affidavit.

By signing the form, the officer attests to four key points:

  • The institution is chartered by Illinois or the United States as a banking or savings and loan institution.
  • The institution is sufficiently bonded under 625 ILCS 5/3-905.
  • The officer is authorized to request a remittance agent license on behalf of the institution.
  • The officer understands the bonding requirements for remittance agents.

Who Needs to File Form RA 17?

Only officers of eligible financial institutions use Form RA 17. Eligible institutions include:

  • Banks chartered by the State of Illinois or the United States.
  • Savings and loan associations chartered by the State of Illinois or the United States.
  • Credit unions (as provided in the statute).

Other businesses or individuals applying for a remittance agent license must instead post a conventional surety bond using forms such as the Remittance Agent’s Bond (RA 3) and complete the standard license application (RA 4) along with character affidavits.

The affidavit must be executed by an officer of the institution who has personal knowledge of the charter status and bonding coverage.

How to Complete Form RA 17?

The form is straightforward and requires the following information:

  • County of execution.
  • Full name of the affiant (officer).
  • Name and address of the institution.
  • Affiant’s signature and date.
  • Notary public acknowledgment, including the date of notarization and notary signature/seal.

The form must be signed under oath before a notary public. Incomplete or improperly notarized forms will be rejected. Always use the most recent version published by the Illinois Secretary of State (current print date references July 2025 — RA 17.10).

After completion, submit the original notarized Form RA 17 together with the remittance agent license application and any other required documents to:

Illinois Secretary of State
Vehicle Services Department
Dealer Services
501 S. Second St.
Springfield, IL 62756
Phone: 217-782-2942

Confirm current mailing instructions and any additional requirements on the official Illinois Secretary of State website.

Related Requirements for Remittance Agent Licenses

Even when using Form RA 17, institutions must still meet all other licensing criteria under Article IX of Chapter 3 of the Illinois Vehicle Code (625 ILCS 5/3-903 et seq.). These typically include:

  • Submission of a completed license application.
  • Payment of the statutory license fee ($50 per location, or $25 if filed after July 1 in some cases).
  • Demonstration of financial soundness and good business integrity.
  • Compliance with any prelicensing education requirements that apply.
  • Licenses generally expire on December 31 and must be renewed annually with updated bonding documentation or the RA 17 affidavit as applicable.

A separate bond or affidavit is required for each location at which the institution will act as a remittance agent.

Why Accurate Completion Matters?

Providing false information on Form RA 17 is a serious matter. The affidavit is made under oath, and inaccurate statements can result in denial of the license, administrative action, or other legal consequences. Institutions should ensure that their existing bonding coverage fully satisfies the volume-based or minimum requirements of 625 ILCS 5/3-905 before the officer executes the form.

For the most current version of the form, statute text, or application instructions, always refer to official Illinois government sources:

This article is for informational purposes only and does not constitute legal advice. Institutions should consult the Illinois Secretary of State or qualified legal counsel for specific licensing questions.

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