The End is Coming! (Be Prepared)

Frazzled Year End Work Week Cartoon

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!

Human Resources

Check Mark Green 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!

Check Mark Green Reconcile all sick, vacation, and PTO balances for year-end payout or carryover (if applicable).

Check Mark Green Move current year terminated personnel files to storage.

Check Mark Green Remind employees to file an amended W-4 if there has been a change in their filing status, exemptions, etc.

Payroll

Check Mark Green Verify all Federal and State identification numbers and notify SDP of any frequency changes.

Check Mark Green Forward any Federal or State filing deposit frequency notices to SDP.

Check Mark Green Forward all State Unemployment rate change notices to SDP

Check Mark Green Ensure all manual and voided checks have been entered into the payroll system.

Check Mark Green Review and submit taxable fringe benefits that must be posted in payroll for W-2 reporting (i.e. housing, auto, group term life insurance).

Check Mark Green Make sure all information is captured (ex: personal use of company car, relocation bonuses, etc.)

Check Mark Green 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.

Check Mark Green Create a list of outstanding checks to ensure you comply with your State Escheat Laws (unclaimed property).

Check Mark Green Run bonus payrolls as early as possible so wages can be added to your payroll schedule.

Benefits

Check Mark Green Verify current employee and dependent coverage.

Check Mark Green Distribute new health/dental insurance cards (if applicable).

Check Mark Green Compile Census information for retirement plan testing.

Check Mark Green Review which employees have life insurance over $50,000 to report taxable income for taxable group term life insurance.

Check Mark Green Verify Flexible Spending Account balances to confirm that employees will have the total amount deducted by end of the calendar year.

Important Dates

November

December

  • 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)

January

  • 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 FacebookTwitter, 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.

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4 Comments. Leave new

  • Stefni Gritten
    November 13, 2018 8:32 am

    Never received the W2 Edit Report on any of our payroll reports lists. If it’s the same as the W2 Edit Report in the standard reports, then we can generate it ourselves.

    Reply
    • Hello Stefni, I’m sorry you never received your report! Yes, this is the same W2 Edit Report in your standard reports. Please let us know if you have any problems generating it or need to make any changes and we would be happy to help!

      Reply
  • I was looking out for the email that says PDF file for the ACA agreement. And I told my supervisor I haven’t received from SDP yet. Good thing you guys sent a fax to my supervisor that we haven’t replied to it yet. The email where the link was sent was marked SPAM Marketing by my inbox so I didn’t even bother to read it. Yaiks. Now I have to watch out for SPAM marketing now

    Reply
    • Hello Jonimae,

      Oh no! We’re so sorry to hear the email got sent to your spam folder. You can also add [email protected] to your contacts or safe senders list to make sure our emails make it to your inbox. Please feel free to give us a call at (866) 946-2032 if you continue to experience any issues with our emails.

      Reply

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