What to Know – Filling Out Paperwork for a New Job

Starting a new job is an exciting venture, but day one can be overwhelming. Adding your signature and personal information to that notorious pile of new hire paperwork can leave your hand cramped and head spinning. Here’s a quick guide to understanding your new hire paperwork and what each document means.

What to Know When Filling Out New Hire Paperwork

What is an I-9?

One of the first documents every new hire receives is an I-9 form. I-9s are necessary for any new hire, regardless of the industry or size of business. This is an employment eligibility verification form that must be completed before anyone can be officially employed. I-9s ensure each employee is legally authorized to work in the United States and verify his or her identity. Be sure to bring two copies of identification with you on your first day. Your new employer will need to make copies of the documents to send along with the completed I-9. 

What is a W-4?

A W-4 is known as an “Employee’s Withholding Allowance Certificate” and is responsible for communicating each employee’s tax filing status. Your tax filing status will include how many allowances you are claiming and how much money to withhold from each paycheck. The form asks a series of questions in order to calculate your status. This can be tricky for people who fall under multiple categories. For example, a person could qualify as “single” and also “head of household.” There are benefits and drawbacks for each status. Depending on your financial goals, you may opt to have more taken from your check every month in order to receive a larger return come tax season. Others may opt to have less taken each month in order to save or invest on their own. Talk with your HR director or financial adviser for the best option for you.

How do I set up Direct Deposit?

Setting up Direct Deposit eliminates one step from your monthly routine and makes life easier! Direct Deposit allows you to replace the paper checks you receive from your employer or other source of income with an electronic payment deposited directly into your PFCU account. To sign up, all you need is your company’s Direct Deposit request form, PFCU account number and PFCU’s ABA/routing number. Check out our Direct Deposit page for more details on the benefits of Direct Deposit and instructions on how to sign up.

Additional Things to Know

In addition to these standard documents, every company’s HR manager should provide information on benefits and any details specific to the company’s policies. The stack of paperwork can be daunting, but with a better understanding of what you’re signing, the process should go fairly smoothly.

Keep an eye out for more information from PFCU about tax season – it’s right around the corner!

Erin Ellis
Accredited Financial Counselor
Philadelphia Federal Credit Union
eellis@pfcu.com