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. Required Forms.
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 Professional Employer Organizations Forms
- 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 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).
De Minimis PEO
In accordance with North Carolina General Statute (“GS”) § 58-89A-75(e), this memorandum shall serve as notice that the information required to meet the annual reporting requirements for your Professional Employer Organization De Minimis Registration is due at the North Carolina Department of Insurance no earlier than January 1 and no later than January 15 of each calendar year.
The annual reporting information required by the GS consists of the following:
- Form PEO-19, Professional Employer Organization Annual De Minimis Registration Notification. (We should put the link to the PEO-19 De Minimis Registration Annual Notice in this area.
- Include a current NC client list with the number of assigned employees in North Carolina.
- Include a current contact person for each De Minimis Registrant with address, phone number and email address.
- Please submit this document to SpecialEntitiesSubmissions@ncdoi.gov and cc Christine.Williams@ncdoi.gov no later than January 15.