It may seem funny now, but let’s be honest. We all know that in no time this is how most of our weekly meetings are going to sound. Year-end is hectic, stressful, and full of easy-to-forget to-dos. That’s why we created this year-end checklist and calendar to make sure you end your year on a high note.
2018 Year-End Checklist
With everything from HR, to Payroll, to Benefits, make sure your team closes out all their year-end tasks with these simple reminders. You can also download a printable version of your checklist from the HR Support Center here!
Verify W-2 information for all employees (i.e. social security numbers, correct name spelling, address).
Pro Tip: If you are an SDP client, then we included your W-2 Edit Report and reminder in one of your October payroll packages. Don’t forget to review this for accuracy, or run your own employee verification reports online using the W-2 Edit Report and/or Employee Profile Report!
Reconcile all sick, vacation, and PTO balances for year-end payout or carryover (if applicable).
Move current year terminated personnel files to storage.
Remind employees to file an amended W-4 if there has been a change in their filing status, exemptions, etc.
Verify all Federal and State identification numbers and notify SDP of any frequency changes.
Forward any Federal or State filing deposit frequency notices to SDP.
Forward all State Unemployment rate change notices to SDP
Ensure all manual and voided checks have been entered into the payroll system.
Review and submit taxable fringe benefits that must be posted in payroll for W-2 reporting (i.e. housing, auto, group term life insurance).
Make sure all information is captured (ex: personal use of company car, relocation bonuses, etc.)
Audit third-party sick payments (short- or long-term disability) made to your employees during the 2018 year to make sure all required information is captured and correct.
Create a list of outstanding checks to ensure you comply with your State Escheat Laws (unclaimed property).
Run bonus payrolls as early as possible so wages can be added to your payroll schedule.
Verify current employee and dependent coverage.
Distribute new health/dental insurance cards (if applicable).
Compile Census information for retirement plan testing.
Review which employees have life insurance over $50,000 to report taxable income for taxable group term life insurance.
Verify Flexible Spending Account balances to confirm that employees will have the total amount deducted by end of the calendar year.
- Monday, Nov. 12 – Veteran’s Day (Federal Reserve Closed)
- Thursday, Nov. 15 – The deadline to submit enrollment for SDP’s 2019 ACA reporting and filing
- Thursday, Nov. 22 – Thanksgiving Day (SDP and Federal Reserve Closed)
- Friday, Nov. 23 – Day After Thanksgiving (SDP Closed)
- Friday, Dec. 7 The deadline to submit Year-End Hold Request Forms if you know you will be submitting information and/or processing any payrolls that will affect W-2s after your last payroll run in December
- Friday, Dec. 7 – SDP Christmas Party (SDP Closing at 3 PM PST)
- Tuesday, Dec. 25 – Christmas Day (SDP and Federal Reserve Closed)
- Tuesday, Jan. 1 – New Year’s Day (SDP and Federal Reserve Closed)
- Thursday, Jan. 31 – The deadline to distribute:
- W-2s to your employees
- 1099s to your contractors
- 1095-Cs to your employees
What do you think?
We’d love to hear about your strategy to stay on top of year-end. Have you already started prepping for the new year? Comment below to share your tips for getting everything in order and not forgetting important tasks. Want more ways to keep your business up-to-date and compliant? Check us out on Facebook, Twitter, and LinkedIn to make sure you never miss a beat! And don’t forget: if you weren’t able to attend last month’s webinar for 2018 Year End, be sure to watch or listen on demand here.