Feds issue final I-9 rules: What you need to know
Looking to free up some filing cabinet space in Finance? Then you’ll want to look at final rules just released by the feds on critical new hire paperwork.
Way back in 2006, the Department of Homeland Security issued rules for employers looking to store their Forms I-9 electronically. Now, four years later, final rules were just issued.
They include some key clarifications from the old version. Check out the new guidance, effective Aug. 23:
- I-9s must be completed within three business – not calendar – days.
- You may use paper, electronic systems or a combination of paper and electronic systems to story the records.
- It’s OK to change electronic storage systems as long as the systems meet the performance requirements of the regulations.
- There’s no need to retain audit trails for each time a Form I-9 is viewed electronically, but only when the I-9 is created, completed, updated, modified, altered or corrected.
- Your company may provide or transmit a confirmation of a Form I-9 transaction, but you aren’t required to, unless the employee requests a copy.
Whether you have 20 employees or 20,000 employees, any paper you can cut is worthwhile. Of course, you want your paper trail to be audit-ready and in compliance, even if it’s a virtual one. So it’s well worth taking a gander at the new rules, no matter how “electrified” this task is at the present.
Info: To read the final rule, click.
Free Training & Resources
Webinars
Provided by Yooz
Further Reading
Heads up: Accountants will no longer enjoy a 45-day grace period to file financial reports after completing an audit. The Public Company...
Heads up: Public accounting firms will need to implement (or update existing) quality control protocols. And they must reevaluate their qua...
Brace yourself: About a third of accountants are making multiple errors every week. Fifty-nine percent are goofing up on a monthly basis, i...
The IRS is about to put all of the the funding, personnel and technology advantages it now enjoys to use. Count on an upswing in audits of ...
In a matter of months, companies will possess first-ever guidelines for environmental credit accounting. Public and private firms will be r...
There’s no need to panic if you or one of your staffers discover they’ve made mistakes with your company’s 401(k) plan.&nb...
