Helpful Steps to Follow
- Make Sure your PEO is Eligible for Certification
- Understand the Basic Requirements for IRS Certification, which were set forth in the Final and Temporary Rule, Revenue Procedure 2016-33 and Notice 2016-49.
- Determine which entity (or entities) you want to certify.
- Identify “precursor” and “related” entities.
- Review your communications strategy and plan on updating it to reflect PEO certification.
- Determine who will submit applications for a CPEO applicant.
- Determine who your responsible individuals are, which are defined in Treas. Reg. § 301.705-1T(b)(13). See also Notice 2016-49, § VI.
- Reach out to your surety.
- Take steps to comply with quarterly assertion, attestation, and working capital statement requirements with respect to your latest completed quarter.
- Move quickly on fingerprinting.
- Educate your sales/marketing team about PEO certification and what it means for potential and existing clients.