I-9 Compliance

To ensure that only individuals that are legally allowed to work get to work, the federal government mandates completing a Form I-9 for every new hire. The Immigration Reform and Control Act of 1986 (IRCA) requires employers to verify that the potential hire is allowed to work in the United States. As the Human Resources manager it is your job to make sure these forms are on file for every employee.

By law the employer must retain this form on file for the employee for a minimum of three years. The forms should be kept in the employee’s records as a part of the application process. I suggest you place this document with the application and Form W-4 along with any state hiring forms.

The form is relatively easy to fill out and requires the employer to verify eligibility with a minimum of two documents. Two of the following documents are required as a copy attached to the form in your file:

  1. Driver’s License
  2. State Identification Card
  3. Federal Identification Card
  4. School ID
  5. Military ID Card
  6. Voter’s Registration Card
  7. Social Security Card
  8. Birth Certificate
  9. Passport
  10. Form I-551 (Eligibility to Work Document)
  11. Foreign Passport

All documents are categorized into groups the government refers to as Lists. Basically, a document can confirm identification or eligibility to work or both. Examples of a document that allows for both include a passport, an alien registration card or Form I-551. These types of documents can verify identification and the right to work in the US. The other documents can only prove identification or eligibility. For example the birth certificate will not have a photo attached but definitely verifies legal status for the right to work. A driver’s license can justify identification but not the ability to work.

As the employer you are responsible to confirm both identification and eligibility to work. Therefore you are allowed to accept a document form List ‘A’ (identification and eligibility) OR a combination of documents that identify the applicant, List ‘B’ and proof of eligibility which is List ‘C’. 

Most applicants for a job will provide a driver’s license and a social security card. Foreign workers will use their passport or Form I-551 as proof. Younger workers have a little more difficult time and rely on their student id and some eligibility document such as the social security card or birth certificate.

A final step which is NOT required is to verify the employment eligibility of the new hire by confirming their documents via E-Verify. Go to www.dhs.gov/E-Verify and simply follow the directions. Once verified; print the confirmation via PDF and print a copy and place this document in the employee’s file.

By law you must have this document completed within three days of actual hire of the employee. The employee must fill out page one information prior to completing the first full day of work. Page two consists of verification of legal documents and these must be verified prior to the end of day three of employment. The employer is not required to file the information with the government, HOWEVER, the employer is required to decline any document that would or could be perceived to be incorrect. Again, I encourage you to use the e-verify system and demonstrate prudent responsibility as an employer.

One last note, failure to properly follow the law exposes the business to fines. Failure to have the completed form and supporting documents on file is fined between $100 upwards to $1,100. For those employers that knowingly hire illegal aliens fines can reach $11,000 each hire. Continued noncompliance can result in a criminal offense with imprisonment of up to 6 months in jail. Act on Knowledge.

To get a PDF version of the form and the instructions click here:  I-9.

Value Investing

Do you want to learn how to get returns like this?

Then learn about Value Investing. Value investing in the simplest of terms means to buy low and sell high. Value investing is defined as a systematic process of buying high quality stock at an undervalued market price quantified by intrinsic value and justified via financial analysis; then selling the stock in a timely manner upon market price recovery.

There are four key principles used with value investing. Each is required. They are:

  1. Risk Reduction – Buy only high quality stocks;
  2. Intrinsic Value – The underlying assets and operations are of good quality and performance;
  3. Financial Analysis – Use core financial information, business ratios and key performance indicators to create a high level of confidence that recovery is just a matter of time;
  4. Patience – Allow time to work for the investor.

If you are interested in learning more, go to the Membership Program page under Value Investing section in the header above. 

Join the value investing club and learn about value investing and how you can easily acquire similar results with your investment fund. Upon joining, you’ll receive the book Value Investing with Business Ratios, a reference guide used with all the decision models you build. Each member goes through three distinct phases:

  1. Education – Introduction to value investing along with terminology used are explained. Key principles of value investing are covered via a series of lessons and tutorials.
  2. Development – Members are taught how pools of investments are developed by first learning about financial metrics and how to read financial statements. The member then uses existing models to grasp the core understanding of developing buy/sell triggers for high quality stocks.
  3. Sophistication – Most members reach this phase of understanding after about six months. Many members create their own pools of investments and share with others their knowledge. Members are introduced to more sophisticated types of investments and how to use them to reduce risk and improve, via leverage, overall returns for their value investment pools.

Each week, you receive an e-mail with a full update on the pools. Follow along as the Investment Fund grows. Start investing with confidence from what you learn. Create your own fund and over time, accumulate wealth. Joining entitles you to the following:

  • Lessons about value investing and the principles involved;
  • Free webinars from the author following up the lessons;
  • Charts, graphs, tutorials, templates and resources to use when you create your own pool;
  • Access to existing pools and their respective data models along with buy/sell triggers;
  • Follow along with the investment fund and its weekly updates;
  • White papers addressing financial principles and proper interpretation methods; AND
  • Some simple good advice.

Value Investment Club

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