Employee Reporting Requirements

Employers with 25 or more Employees Required to File Quarterly - and Monthly- Wage reports effective July 1, 2015
If your company has reported a total of 25 or more employees for the calendar year of 2014, you will be required to file monthly and quarterly electronic wage reports for the period beginning July 2015 and continuing through June 2016. Note that if you had a total of 25 or more employees in 2012 and 2013, you are currently subject to this requirement through June 2015.
Monthly wage reporting is a key tool in fighting fraud and decreasing unemployment insurance tax rates. Please see below guide:
  • Monthly Electronic Reports
    • Required for the first and second months of each quarter: July, August, October, November, January, February, April and May
    • Should contain only employee names, social security numbers and each employee's total wages for the period being reported
    • Unemployment insurance contributions are not calculated or remitted
    • Failure to submit in an electronic format through Illinois TaxNet will result in a penalty.
  • Quarterly Electronic Reports
    • Required for the full quarter, which also covers the filing requirement for the months of September, December, March & June
    • Unemployment insurance contributions are calculated and remitted
  • Failure to submit in required electronic formats - Illinois TaxNet, FSET (through QuickBooks or other vendor software) or FTP (used by large service bureaus or employers) - will result in a penalty
New to TaxNet? Register for a TaxNet account by logging on to:  www.iMonthlyReporting.com.  For a brief explanation on TaxNet, click here.   


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