Fill Out Your New York Ls 665 Form

What is the New York LS 665 form used for?

The New York LS 665 form is a request for registration for Professional Employer Organizations (PEOs) in New York State. This form is necessary for both initial registrations and for renewals of PEOs and PEO groups. PEOs provide employee leasing services, which means they take on the responsibility for human resources tasks, payroll, and employee benefits for their clients.

Who needs to file the LS 665 form?

Any individual PEO or a group of PEOs wishing to operate in New York State must file the LS 665 form. This requirement applies whether they are seeking to register for the first time or to renew their existing registration. The form must be completed with accurate and comprehensive information about the PEO or its parent organization, including ownership details and operational addresses.

What information is required on the LS 665 form?

The form requires several types of information. Applicants must provide the name of the PEO or its parent organization, their federal employer identification number (FEIN), and details about their corporate structure. The section on ownership requires listing individuals or entities that hold significant ownership stakes. Additionally, contact information, addresses for each operational office, and fiscal year details must be included. The form also necessitates submission of supporting documents, such as financial statements and proof of Workers’ Compensation insurance.

What are the submission instructions for the LS 665 form?

Applicants must ensure they clearly mark whether the application is for an initial registration or a renewal. The completed LS 665 form, along with all required attachments, must be mailed to the Division of Labor Standards Permit and Certificate Unit located at the State Office Campus in Albany, NY. It’s also recommended to contact their office via email or phone for any clarifications needed regarding the submission process.

What are the ongoing responsibilities of a registered PEO in New York?

Once a PEO is registered in New York, it has several responsibilities to uphold. These include submitting a certified statement from a CPA within 60 days following the end of each calendar quarter, confirming timely payment of payroll taxes. Additionally, PEOs must maintain an updated client list that reflects any changes. Following the termination of a client contract, the PEO is responsible for advising clients about their unemployment insurance liabilities.

Submitting the New York Ls 665 form involves several critical steps. However, many applicants overlook important details that could lead to delays or even rejection. Here are nine common mistakes to avoid when filling out this form.

One frequent error is failing to check the appropriate box for the type of request. Whether it’s an initial application or a renewal, making this distinction clear is essential. Incomplete checks can result in confusion and unnecessary processing time. Make a note to double-check this section before submitting the form.

Another common mistake involves inaccurate or missing information in the general information section. Applicants often forget to include the complete physical address of the principal administrative office or provide a separate mailing address if it's different. Double-check all contact details to ensure that everything is correct and up-to-date. An error here can lead to communication issues later.

Additionally, many applicants neglect to provide their Federal Employer Identification Number (FEIN) or fill it out incorrectly. This number is crucial for identifying your business and facilitating operations. It's worth taking the time to verify that this number is accurate and complete.

Ownership disclosures often present challenges. Some applicants forget to list all individuals or entities holding a five percent or greater interest in the company. Others fail to indicate former ownership interests. Ensure that ownership details are comprehensive and include past stakeholders to avoid complications.

Completing the submission instructions is another area where applicants often stumble. It is vital to attach the required documents, such as proof of insurance and financial statements. Omitting these can halt the processing of your application. Carefully review the submission checklist to guarantee that you have all necessary attachments.

Furthermore, not signing the request correctly can lead to outright rejection. If the applicant is a corporation, ensure the signature comes from an authorized officer. For partnerships, proprietorships, or LLCs, signatures must come from someone with binding authority. Confirm that the signature aligns with your entity's structure.

Another mistake is failing to submit the application within the required timeframe. For initial registrations, the form must be submitted before operating in New York. Renewal applications must be submitted within 180 days after the end of your fiscal year. Missing these deadlines can result in penalties or the need for reapplication.

Lastly, applicants often overlook the importance of the Declaration section. This statement affirms your authority and acknowledges compliance with legal requirements. Failing to sign or misrepresenting your authority can lead to serious legal implications and delays.

Being thorough and careful in your application process is critical. By avoiding these common pitfalls, you can facilitate a smoother review and approval process for your New York Ls 665 form.

When completing the New York LS 665 form for Professional Employer Organization registration, several other documents often accompany it. These documents are essential for ensuring compliance with relevant labor laws and for establishing the legitimacy of the application. Below is a list of common forms and documents used alongside the LS 665.

• Form C-105.2: This is a Certificate of Workers' Compensation Insurance provided by an authorized insurance carrier. It confirms that the PEO has the required coverage for its employees in New York.
• DB-120.1: Similar to Form C-105.2, this is a certificate that demonstrates compliance with Disability Insurance requirements in New York. It is important for employee protections.
• CE-200: This form is used by entities without any office or internal employees in New York to claim exemption from Workers’ Compensation and Disability Insurance coverage.
• Client Contract Template: A blank contract form that adheres to Article 31 of the New York Labor Law. This outlines the terms and responsibilities between the PEO and their clients.
• Sample Written Notice: This document serves as a template to inform worksite employees of their rights and responsibilities under the PEO agreement.
• Financial Statement: A reviewed or audited financial statement prepared by a certified public accountant. It must confirm that the PEO has a minimum net worth of $75,000 and validate tax compliance.
• Cover Letter from CPA: This accompanying letter from the CPA certifies the accuracy of the financial statement and confirms timely payment of payroll taxes.
• Client List: A detailed and up-to-date document that specifies all clients, including names, addresses, and Federal Employer Identification Numbers, essential for PEO compliance tracking.

By understanding and preparing these additional documents, applicants can ensure a smoother registration process. Proper preparation reinforces compliance with New York's labor laws and enhances the credibility of the Professional Employer Organization.

The New York LS 665 form, which requests registration for Professional Employer Organizations (PEOs), resembles several other documents in its function or purpose. Below is a list of eight similar forms, along with a brief explanation of how they are alike.

• Application for Employer Identification Number (EIN): Like the LS 665, this form requires information about the business's ownership, structure, and operations for tax purposes.
• New York State Business Certificate Filing: This document also demands details about the business entity, such as ownership structure and business name, similar to the requirements of the LS 665.
• Limited Liability Company (LLC) Formation Documents: Much like the LS 665, these documents gather ownership information and business structure details for registration and compliance.
• Application for a New York State Workers’ Compensation Insurance Policy: This form seeks detailed information on the business operations and ownership, paralleling the LS 665's inquiries.
• Annual Report for Corporations: Both documents require financial information and ownership details, ensuring compliance with state regulations.
• Sales Tax Registration Application: Similar to the LS 665, this application collects information on the business’s structure and ownership to ensure proper tax collection.
• New York City Business License Application: This application requires basic business information along with specific ownership details, similar to the data requested in the LS 665.
• Professional License Application: Like the LS 665, professional licensing applications require personal and business information to verify qualification and compliance with state regulations.

When completing the New York LS 665 form, it's essential to adhere to certain best practices to ensure a smooth application process. Here are some key dos and don’ts:

• Do read the instructions thoroughly before starting to fill out the form.
• Do ensure that all information provided is accurate and up to date.
• Do double-check your federal employer identification number (FEIN) for accuracy.
• Do sign the application with the appropriate authority for your entity type.
• Do attach all necessary documents, such as financial statements and proof of insurance.

• Don't leave any sections blank; if a question does not apply, indicate that clearly.
• Don't submit the application without reviewing all attachments to ensure completeness.
• Don't miss the submission deadlines; initial applications must be filed before operating, and renewals within 180 days after the fiscal year ends.
• Don't fail to include required certifications from an independent CPA for financial statements.

Following these guidelines closely will help prevent delays in the review process and ensure a successful registration as a Professional Employer Organization in New York.

• Misconception 1: The LS 665 form is only for new businesses.

Many people think that the LS 665 form applies solely to new Professional Employer Organizations (PEOs). In reality, both initial applications and renewal requests are handled through this form, making it essential for ongoing operations as well.

• Misconception 2: You can submit the form at any time.

It's a common misunderstanding that timing doesn’t matter when submitting the LS 665. Initial registrations must occur before operating in New York, and renewals need to be submitted within 180 days after a PEO’s fiscal year ends.

• Misconception 3: Any officer can sign the LS 665 form.

Not just anyone can sign off on this form. For corporations, the signing authority must come from an officer who is authorized to bind the entity. Similarly, for partnerships and LLCs, only designated members or partners can sign.

• Misconception 4: Financial statements are optional.

Some believe that submitting financial statements is optional, but that's not true. A reviewed or audited financial statement showing a minimum net worth of $75,000 is a crucial part of the application process.

• Misconception 5: You only submit one application for a group of PEOs.

This can be misleading. If you belong to a group of PEOs, each member must provide its own guaranty and details in the application. Each entity has specific reporting and compliance obligations.

• Misconception 6: You don’t need to provide client information.

Many people overlook the requirement to submit a comprehensive list of all clients, including their names, addresses, and FEINs. This list is not only necessary but is treated confidentially.

• Misconception 7: Previous ownership details don’t matter.

Some applicants ignore the requirement to disclose key ownership information about any individuals or entities that held a significant stake in the PEO within the last five years. This transparency is critical for assessments.

• Misconception 8: Only the owner files the LS 665.

It's easy to think that just the owner submits the form, but members of a PEO group must also file pertinent documents and information to ensure compliance, reflecting shared responsibilities.

• Misconception 9: You can provide incorrect information and fix it later.

Providing false or incomplete information is a risky game. The application must be accurate and truthful upon submission. Misrepresentations can lead to denial of registration or further legal issues.

Here are key takeaways about filling out and using the New York LS 665 form:

• Understand the Purpose: The LS 665 form is used for Professional Employer Organizations (PEOs) to register or renew their status in New York. It's essential for compliance with state requirements.
• Complete All Sections: Each part of the form must be thoroughly filled out. This includes general, ownership, and group information, depending on whether you are applying as an individual PEO or as part of a group.
• Attach Necessary Documentation: When submitting the application, include required documents such as proof of insurance, financial statements, a client list, and corporate filing receipts to ensure your request is processed without delays.
• Follow Submission Guidelines: The completed form and attachments should be mailed to the specified address within the required timeline. Ensure you indicate whether it's an initial or renewal application.
• Stay Compliant Post-Submission: After approval, PEOs must regularly submit tax compliance statements and updated client lists to maintain their registration status and fulfill ongoing obligations.