Fed Wants More Years of New Hire Reporting
Published Date: 3/11/2025
Notice
Summary
The Federal Reserve wants to keep collecting new hire info for three more years but with some updates. This affects employers who report new employee data and helps the government track jobs better. If you have thoughts, speak up by May 12, 2025—no extra costs, just a chance to share your voice!
Analyzed Economic Effects
7 provisions identified: 3 benefits, 4 costs, 0 mixed.
Onboarding platform moves to Workday
The Federal Reserve will change the New Hire Information Collection platform from the New Hire Portal to Workday Onboarding in June 2025. The change restructures sections into individual tasks and adds, removes, and relabels data fields and two new hire categories (Officers/Governors and Contingent Workers).
Login.gov identity proofing required
Except for Contingent Workers, all respondents will be required to complete identity proofing and set up a secure account through Login.gov before accessing Workday Onboarding. This login change is part of the June 2025 platform migration.
Two beneficiary/death forms collected pre-hire
The Board will begin collecting the Designation of Beneficiary Unpaid Compensation of Deceased Employee form and the Executive Death and Dismemberment Benefit for Officers and Governors questionnaire prior to a hire's first day of employment; these items were previously not subject to the Paperwork Reduction Act (PRA).
FEGLI beneficiary form removed from pre-hire
The Board will no longer collect information for use on the Federal Employees' Group Life Insurance (FEGLI) Program Designation of Beneficiary form through the FR 27 pre-hire collection.
State tax form info no longer collected pre-start
The Board will no longer collect information to populate the state tax form prior to a hire's start date, and that information will therefore no longer be part of the FR 27 PRA collection.
Form I-9 moves to electronic collection
The Board will begin collecting Form I-9 (Employment Eligibility Verification) electronically through Workday Onboarding rather than collecting it via a PDF.
Estimated time burden for new hires
The Board estimates total respondents by hire type as: Regular Hire 235; Intern Hire 131; Federal Transfer 39; Governor/Officer 9; Contingent Worker 637. Estimated average hours per response are: Regular 1.78; Intern 1.71; Federal Transfer 1.95; Governor/Officer 1.86; Contingent Worker 1.5. Total estimated annual burden hours are 1,691 with a total estimated change in burden of 1,298.
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Key Dates
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