{ "body_html": "

Corporate Check Cashing and Workers' Compensation

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Before cashing any corporate check, complete all steps below. Do not skip steps.

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Step 1: Verify workers' compensation coverage

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  1. Open the corporate customer file.
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  2. Check the policy expiration date.
    3. \n
  3. If the date has passed, the coverage has lapsed. Do not cash the check.
    4. \n
  4. Check for renewal documentation in the file.
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  5. If no renewal documentation is on file, stop cashing all corporate checks for that employer and notify your manager immediately.
    6. \n
  6. Do not resume until your manager confirms new coverage documentation is on file. Cashing a check without confirmed coverage is a criminal violation.
    7. \n
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Step 2: Check the payroll cap

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  1. Open the payroll cap ledger for the employer.
    2. \n
  2. Find the employer's cap for the current policy period (200% of total payroll).
    3. \n
  3. Determine how much of the cap has been used.
    4. \n
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Step 3: Apply the correct threshold action

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| Cap Used | What to do | |---|---| | 75% | Alert your manager. | | 90% | Get manager pre-authorization before processing the check. | | 100% | Stop. Do not cash any further corporate checks this policy period. | | Over 100% | Notify the BSA/AML Compliance Officer the same business day. |

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Step 4: Verify coverage online (when directed)

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  1. Go to the Florida Division of Financial Services coverage portal.
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  2. Search by the employer's federal tax ID number or legal business name.
    3. \n
  3. Confirm the policy status is active.
    4. \n
  4. Confirm the policy period matches the declaration page in the file.
    5. \n
  5. Print or save the query result as a PDF.
    6. \n
  6. Write the query date and your name on the printout.
    7. \n
  7. File it in the corporate customer file.
    8. \n
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Step 5: Document exemptions (if applicable)

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  1. If the employer qualifies for an exemption, record the exemption category.
    2. \n
  2. File the exemption documentation in the corporate customer file.
    3. \n
", "narration_text": "Before cashing any corporate check, complete all steps below. Do not skip steps.\r\n\r\nStep 1: Verify workers' compensation coverage\r\n\r\nOpen the corporate customer file.\r\nCheck the policy expiration date.\r\nIf the date has passed, the coverage has lapsed. Do not cash the check.\r\nCheck for renewal documentation in the file.\r\nIf no renewal documentation is on file, stop cashing all corporate checks for that employer and notify your manager immediately.\r\nDo not resume until your manager confirms new coverage documentation is on file. Cashing a check without confirmed coverage is a criminal violation.\r\n\r\nStep 2: Check the payroll cap\r\n\r\nOpen the payroll cap ledger for the employer.\r\nFind the employer's cap for the current policy period (200% of total payroll).\r\nDetermine how much of the cap has been used.\r\n\r\nStep 3: Apply the correct threshold action\r\n\r\n| Cap Used | What to do |\r\n|---|---|\r\n| 75% | Alert your manager. |\r\n| 90% | Get manager pre-authorization before processing the check. |\r\n| 100% | Stop. Do not cash any further corporate checks this policy period. |\r\n| Over 100% | Notify the BSA/AML Compliance Officer the same business day. |\r\n\r\nStep 4: Verify coverage online (when directed)\r\n\r\nGo to the Florida Division of Financial Services coverage portal.\r\nSearch by the employer's federal tax ID number or legal business name.\r\nConfirm the policy status is active.\r\nConfirm the policy period matches the declaration page in the file.\r\nPrint or save the query result as a PDF.\r\nWrite the query date and your name on the printout.\r\nFile it in the corporate customer file.\r\n\r\nStep 5: Document exemptions (if applicable)\r\n\r\nIf the employer qualifies for an exemption, record the exemption category.\r\nFile the exemption documentation in the corporate customer file." }