What Paperwork do I Need to Fill Out for New Employees?

Hiring an employee is an exciting prospect for any business owner. But, if you are about to hire your first employee, you want to do all you can to ensure the process is completed properly. This means knowing what paperwork you need to fill out among other things. For most new employees they will be excited to start working at your company as well as a little nervous. This will be especially true on their first day of work.

You will want to take care to make their first day on the job as comfortable and welcoming as possible. You will not want to be worrying if you have forgotten to complete and submit an important tax or legal employee provisions insurance form. You most likely will want to be able to get your new employee settled at their workstation and become familiar with where to find everything from the coffee machine to office supplies.

Basic Tax Forms

For your company, if you have previously operated as a sole proprietor utilizing your social security number for tax purposes, it may now be necessary to ensure you have an Employee Identification Number. You need to fill out and submit a form to obtain this number which is also called an EIN. This form is called an SS-4 form. You will want to have already obtained and submitted this form well in advance of hiring your new employee.

For employees, you want to make certain all the appropriate forms have been filled out and submitted for tax purposes. These forms can be filled out by your employee on their first day of work. But, you will want to have these forms ready for your employee to complete prior to the day they arrive to begin working for your company. Some of the forms to obtain are I-9 forms and W-4 forms. Many forms are easily found online, so knowing this in advance can help you save time when gathering the paperwork for the new employee.

It is important to ensure your employee is legally able to work in the United States. Also, you want to be sure to make the correct deductions for federal tax purposes. This is what I-9 and W-4 forms are for, respectively. Your employee will need to fill these forms out for you. Make sure the employee signs them and dates these forms correctly.

You will also want to check with your state to find out which particular forms need to be submitted for your state's unemployment compensation. As each state differs, this is something you want to look into in advance of your employee showing up for their first day of work, too. You want to contact the appropriate agency in your area to find out specifically what is required for new hires and unemployment compensation.

Obtaining Proper Business Liability Coverage

The next most important paperwork to fill out will be paperwork associated with purchasing worker's compensation insurance. Just as you purchased your initial business liability insurance coverage, you can also approach the purchase of worker's compensation coverage. Consult with your broker and go over the coverage you will now need.

Worker's compensation coverage will protect your employee and your company in the event of an employee sustaining an injury while on the job. Allow yourself an appropriate amount of time to gather and fill out the appropriate business liability coverage paperwork for new employees and you will ensure the continued success of your company. Plus, you will now be helping someone else as they venture on the road to their own personal and professional success.

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