Form I-9 Employment Eligibility Verificationcustomonecfo
Form I-9 is used for verifying the identity and employment authorization of individuals hired for employment in the United States. All U.S. companies hiring employees must ensure the employee and employer properly complete and sign Form I-9 within 72 hours of hiring the employee.
The company should keep all competed Form I-9’s in the employee personnel file. The Department of Homeland Security may audit U.S. companies to check to ensure the company is properly completing the form. The Department of Homeland Security may fine the company up to a maximum amount of $1,000 per employee the form was incomplete or erroneously filled out. Per a small sample of companies interviewed in Iowa, it appears the average fine paid for incomplete or erroneously completed Form I-9 is approximately $750. This fine is especially burdensome on small employers with 25 to 50 employees.
If you have questions regarding Form I-9 please contact Custom CFO & Controllers here.