article banner
Outsourcing Article

Puerto Rico State Insurance Fund – Annual Payroll Statement

The Puerto Rico State Insurance Fund Corporation’s (CFSE) Worker’s Insurance is the exclusive remedy available to employees in case of injuries, illnesses or death related to employment.  It is the duty of every employer to insure his/her employees, including executive officers, are covered by this insurance.

Annual payroll statement - next due date

For an employer to obtain worker’s compensation coverage, it must file the Annual Payroll Statement (Form FSE 693) with the CFSE on or before July 20, 2020.  The statement must show the number of employees, occupation or industry classification and the respective total amount of wages paid during the preceding fiscal year ended June 30, meaning from July 1 to June 30.

Employers should be on the lookout for the final notification letter that will be received from the CFSE, in the event that an additional premium results from the filing of the annual payroll statement. 

Filing requirements

Employers are required to provide one of the following documents with the Payroll Statement:

  • Quarterly Unemployment & Disability Insurance Tax Report submitted to the Department of Labor for the quarters of September 2019, December 2019, March 2020, and June 2020.
  • Employer’s Quarterly Return of Income Tax Withheld for the quarters of September 2019, December 2019, March 2020, and June 2020.
  • Employer’s Quarterly Federal Tax Return (Form 941) for the quarters of September 2019, December 2019, March 2020, and June 2020.

The statement can be completed and filed through the CFSE internet portal.  Employers who submit the Payroll Statement using the CFSE Internet Portal, will have the option to upload the required documents in the system.  If the information requested is not provided, the employer recognizes and accepts that the CFSE could make the necessary arrangements to obtain the information and to adjust the premium if necessary.

These requirements do not apply to employers whose policies only cover domestic activities, nor employees that only qualify as self-employers.

As result of the emergency arising from COVID-19, many employers have agreed with their employees to work remotely. If this is the situation of the business, you must include in your policy the classification for remote work. For more information, you can contact the employer assistance lines: 1-844-765-4927 or 1-844-728-7666.

Link - The Puerto Rico State Insurance Fund Corporation’s Internet Portal

At Kevane Grant Thornton we provide our clients with personalized attention, valuable advice and recommendations, tailored solutions, and direct access to technical experts to help clients resolve issues and identify opportunities.