When setting up payroll for your company, you must comply with various federal and state requirements.
- Complete Employee Onboarding
You must gather essential information when hiring a new employee. First, they must complete a W-4 form, specifying their preferred income tax withholding. They also need to fill out the I-9 form to verify their eligibility to work in the U.S. This form requires a review of their passport or other valid identification as per the form's instructions. Keep these completed forms for your records. You can view the W-4 form on the employee profile on Niural. You can also upload the I9 form on Niural so that these forms can be stored electronically.
- Report new hires to the state
When you hire a new employee, you need to tell the state where they'll work. This helps the state locate individuals with government-related debts, such as child support. Submit this report by your state's deadline (usually within 20 days of hiring). With Niural, you can opt for us to handle this reporting on your behalf.
- Workers’ Compensation Insurance
In many states, employers must have Workers’ Compensation insurance by law. Depending on your state's rules, you can get this insurance from a regular insurance company or your state's own workers' compensation program. This insurance helps your employees if they get hurt or sick from work, and it also protects your business in these situations.
- Display Mandatory Workplace Posters
Certain posters are mandatory to display in your office, contingent on your business's location at the city, county, and state levels. Use resources like the Department of Labor’s Poster Advisor tool to identify the necessary posters for your area and obtain printable versions.
- Employment and Labor Laws
It's advisable to acquaint yourself with labor laws, including minimum wage, wage garnishments, contractor classification, and termination protocols. Valuable resources for this information include the Department of Labor’s Employer Guide and the U.S. Small Business Administration's 10 Steps to Starting a Business. This guidance covers aspects from crafting a business plan to acquiring licenses and permits.
- Health Insurance Compliance
If you intend to provide health insurance to your team, ensure compliance with ACA (Affordable Care Act) regulations. Niural can facilitate your ACA compliance by managing pre-tax payroll deductions, offering the necessary 1095-C forms, supplying ACA Marketplace Notices to eligible employees, storing the section 125 document, and aligning with your existing policies and insurance provider.