Your workers’ compensation premium is based on your estimated payroll, but payroll can change due to changes in workforce size, employees working overtime or operations expanding. For that reason, at the end of your policy period, we audit the last year and adjust your premium to reflect any changes. Even policyholders who have no employees must complete an audit to confirm their employee count and total payroll are accurate for the policy period. Learn more about premium audits.
The audit process begins the day after your current policy expires. You will receive a letter and/or email at that time with instructions when it’s time for your annual workers’ compensation premium audit. Learn more about premium audits.
If you received a letter from SFM telling you it was time to complete your premium audit online, log in to MyPayroll.
Your user ID and password can be found on the letter and/or email you received from your SFM auditor. If you lost your user ID and password, call SFM at 800-937-1181 to obtain your credentials. Your assigned password changes yearly, so do not ask your browser to save your password.
If your policy period dates do not directly coincide with your payroll records (for instance, the policy effective date is not the first of the month on your monthly records), you may provide records for a different period as long as the beginning and ending dates are within 16 days of the actual policy period.
Yes. You need to provide records confirming that you are still a single member owner with no employees. You will need to complete the online or paper premium audit and provide your business tax documentation. We will also need to collect details on your subcontracted labor, if any.
When it’s time for your premium audit, we’ll need:
A list of all subcontractors and/or 1099 workers that includes job descriptions and individual gross wages for the policy period
Copies of the 1099 Forms and 1096 Forms
Certificates of general liability and/or workers’ compensation coverage for each subcontractor
A vendor is someone who provides goods or services to you that are not part of the goods or services that you provide to your customers. For example, if an accounting firm hires a plumber to fix its water heater, the plumber is a vendor. If the accounting firm hires an independent accountant to help prepare taxes during its busy season, the accountant is a subcontractor.
