Annual Filing Procedures for PEOs
Pursuant to the North Carolina Professional Employer Organization Act, N.C.G.S. § 58-89A, that became effective January 1, 2005, Professional Employer Organizations are required to file certain miscellaneous and annual items as summarized below. The forms required are available here.
Annual Filing Requirements
Within 120 days after the end of each fiscal year, as required by G. S. 58-89A-70(d), each licensee shall file with the Commissioner the following:
Audited GAAP financial statement, Form PEO-05 ("Obligations Attestation") and Form PEO-06 ("Financial Statement Attestation"), as required by G. S. 58-89A-60(b). These forms are available on the Department website at https://www.ncdoi.gov/insurance-industry/professional-employer-organizations-peos/professional-employer-organizations.
- Any information required by G. S. 58-89A-60 for which there has been a change since the last or initial filing.
- Annual filing fee of $1,000.00 payable to the North Carolina Department of Insurance, pursuant to G.S. 58-89A-65(b).
- Current Surety Bond, Letter of Credit, or Current Statement of Securities Held pursuant to G. S. 58-89A-50(h).
- Current client list of all North Carolina clients serviced by your PEO.
- Any other information the Commissioner determines is needed.
Miscellaneous Filing Requirements
In addition to the annual filing requirements, other items that are required to be filed under N.C.G.S. § 58-89A follow:
- File, no later than 10 days after discontinuance, Form PEO-13, (Notification of Change in Workers’ Compensation Insurance or Health Benefit Plan), and notify all affected client companies as required by G. S. 58-89A-115(d).
- File within 30 days of change, Form PEO-10, (Notification of Change Report) to indicate-change in name of licensee-change in location of licensee’s primary business office-addition of business office in NC-deletion of business office in NC-change in location of a business office in NC-addition of controlling person-deletion of controlling person-any other material change in business structure, bankruptcy filing, any regulatory or judicial action against licensee, etc., as required by G. S. 58-89A-80(b)(c).
- File within 30 days of initiation, Form PEO-11, (Notification of Initiation of Client Company Relationship), and notify licensee’s workers’ compensation carrier and the North Carolina Industrial commission of the initiation, as required by G. S. 58-89A-110(g).
- File within 30 days of termination, Form PEO-12, (Notification of Termination of Client Company Relationship) and notify licensee’s workers’ compensation carrier and the North Carolina Industrial Commission of the termination as required by G. S. 58-89A-110(g).
- File within 45 days after the end of each quarter of the fiscal year, as may be required by the Commissioner, a financial statement for the preceding quarter, not audited but in GAAP format and Form PEO-05, (Application/ Licensee Obligations Attestation), as required by G. S. 58-89A-70(e).
If you have any questions please contact Nancy Wise at 919-807-6178 (Nancy.Wise@ncdoi.gov).
(PLEASE BE ADVISED)
A Professional Employer Organization (PEO) operating with a de minimis registration is subject to the provisions of N.C.G.S. §58-89A-75. Pursuant to these provisions, a PEO operating in North Carolina with a de minimis registration can not actively advertise or market their services to the general public of North Carolina. The PEOs can not actively pursue new clients in the State.