A policyholder may request that payments be sent directly to the claimant. Payments are mailed to the policyholder, unless other arrangements are made. Subsequent benefit periods would begin the sixth of each month and end the fifth of the following month and payments would be issued on or about the fifth of each month. For example, if the qualifying period ended, the first monthly benefit period would be from to and the first payment would be issued on or about. Each monthly benefit period then has the same beginning and end date each month. The benefit period begins the day following the end of the qualifying period and ends one month later. Payments are issued at the end of the benefit period. Still have questions about disability benefits and taxes? Call us at 1-80.Īnswers - Benefits How soon are benefit checks released and where are they mailed? Do checks have to be sent to the policyholder?īenefits will be issued when (1) eligibility for coverage has been determined, (2) disability (according to the terms of the policy) has been established, and (3) the qualifying period has been satisfied. Is Sun Life responsible for FUTA and SUTA taxes?.
If Sun Life prepares the Form W-2, do I have anything to reconcile our Form 941?.How do I fill out a Form 941 to send with payment of the employer's portion of FICA taxes?.Who will report disability benefits for the claimant?.Why was no FICA withheld? Why did FICA withholding stop?.Why does Sun Life pay the employer portion of FICA during the Initial FICA period but not during the Return-to-Work FICA period?.What is the difference between initial FICA and return-to-work FICA?.Do I still need to pay the employer portion of FICA even though the claimant is no longer our employee?.Why doesn't Sun Life pay the employer's portion of FICA taxes on STD benefits?.Why do I need to match the FICA withheld from benefits paid to the claimant?.Do I need to pay the employer portion of FICA?.If the employee paid premiums on a post-tax basis, do I still need to report the disability benefits paid on a Form W-2 since it is non-taxable income?.Here are some commonly asked questions about Sun Life long-term disability benefits and taxes: This means that disability payments have associated tax considerations. Disability insurance falls under the IRS umbrella of 'third-party sick pay'.
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