[{"@context":"http:\/\/schema.org","@type":"BlogPosting","mentions":[{"@type":"Thing","alternateName":"employment law","name":"wiki-labor-law-r","sameAs":["kg:\/m\/04qq5","https:\/\/en.wikipedia.org\/wiki\/Labour_law","https:\/\/www.wikidata.org\/wiki\/Q628967"],"@id":"https:\/\/www.wikidata.org\/wiki\/Q628967"},{"@type":"Thing","url":"https:\/\/www.wikidata.org\/wiki\/Q678774","name":"wiki-employee-benefit","sameAs":["kg:\/m\/05j7x6","https:\/\/en.wikipedia.org\/wiki\/Employee_benefits"],"@id":"https:\/\/www.wikidata.org\/wiki\/Q678774"},{"@type":"Thing","name":"wiki-tax-compliance","sameAs":"https:\/\/www.wikidata.org\/wiki\/Q1355810","@id":"https:\/\/www.wikidata.org\/wiki\/Q1355810"},{"@type":"Thing","alternateName":"performance review","name":"wiki-performance-evaluation-r","sameAs":"https:\/\/www.wikidata.org\/wiki\/Q1430184","@id":"https:\/\/www.wikidata.org\/wiki\/Q1430184"},{"@type":"Thing","alternateName":"time limit","name":"wiki-deadline-r","sameAs":["https:\/\/www.wikidata.org\/wiki\/Q1465133","https:\/\/en.wikipedia.org\/wiki\/Time_limit","kg:\/m\/04cr5_t"],"@id":"https:\/\/www.wikidata.org\/wiki\/Q1465133"},{"@type":"Thing","name":"wiki-employee-handbook-r","sameAs":["https:\/\/en.wikipedia.org\/wiki\/Employee_handbook","kg:\/m\/06n70p","https:\/\/www.wikidata.org\/wiki\/Q4509352"],"@id":"https:\/\/www.wikidata.org\/wiki\/Q4509352"},{"@type":"Thing","name":"wiki-flexible-spending-account-r","sameAs":["https:\/\/www.wikidata.org\/wiki\/Q5458993","https:\/\/en.wikipedia.org\/wiki\/Flexible_spending_account","kg:\/m\/03cxp2"],"@id":"https:\/\/www.wikidata.org\/wiki\/Q5458993"},{"@type":"Thing","sameAs":["https:\/\/en.wikipedia.org\/wiki\/Payroll","kg:\/m\/02bjhh","https:\/\/www.wikidata.org\/wiki\/Q59434791"],"name":"wiki-payroll-r","@id":"https:\/\/www.wikidata.org\/wiki\/Q59434791"}],"url":"https:\/\/jobbloghq.com\/hr-blog\/end-of-year-hr-checklist-2024\/","timeRequired":"P0Y0M0DT0H8M21S","wordCount":"1985","isFamilyFriendly":true,"isAccessibleForFree":true,"dateModified":"2024-10-11","datePublished":"2024-10-11","description":"An HR year end checklist with tasks for human resource professionals to streamline year-end activities and set the stage for success in 2025.","image":"https:\/\/jobbloghq.com\/wp-content\/uploads\/2024\/10\/hr-end-of-year-checklist.jpg","copyrightYear":"2024","articleBody":"The fourth quarter is a crucial time for HR departments. From compliance checks to updating payroll to managing benefits and open enrollment, the end of the year is the Superbowl for HR workers.\nIn this HR compliance checklist, you\u2019ll find key dates and deadlines, things to remember like holiday policies and employee benefits packages, and other critical tasks to close out the calendar year. Each section of the HR year end checklist provides clear tasks to streamline your year-end activities and set the stage for success in the new year.\nYou can download a simplified checklist at the bottom of this post!\nHR Year End Checklist Outline\nThis HR year end checklist is broken down into the following sections:\nKey Dates and Compliance Deadlines including distribution of important forms to avoid penalties.\nHoliday and Year-End Policies including holiday time-off requests and policies for maintaining staffing levels during end of the year operations\nLegal Compliance Checks like wage laws, healthcare mandates, and leave policies.\nEmployee Recordkeeping for accurate, up-to-date forms and records.\nEmployee Handbook Review for ensuring and communicating accurate and updated policies\nPayroll and Taxes including verifying tax rates and new wage base limits, and confirming next year\u2019s payroll schedule and pay period.\nBenefits and Open Enrollment to review coverage plans, the affordable care act, and retirement packages.\nFSA & Benefits Reconciliation for preventing discrepancies and ensuring timely benefits for applicable employees.\nNew Year Planning to ensure compliance and policy updates reflect plans for the new year\nKey Dates and Deadlines for HR Professionals: Calendar Year 2024\/2025\nHuman resources professionals must stay on top of key dates and deadlines to avoid penalties and HR compliance issues. Marking your calendar with important dates helps prevent oversight:\nDecember 29 \u2013 nondiscrimination testing for fringe benefits.\nJanuary 1 \u2013 Beneficial Ownership Information (BOI) Report due for organizations subject to the Corporate Transparency Act.\nJanuary 31 \u2013 employers must distribute W-2s, 1099-MISC, and ACA Forms 1095-B and 1095-C to employees.\nJanuary 31 \u2013 Forms W-2 Wage and Tax Statement and Form W-3 Transmittal of Wage and Tax Statements must be filed with the Social Security Administration\nFebruary 1 \u2013 employers must post OSHA Form 300A to report workplace injuries and illnesses, ensuring transparency and adherence to safety regulations.\nFebruary 10 \u2013 Annual Form 940 is due if quarterly FUTA taxes were paid on time.\nMarch 31 \u2013 file Form 1099s electronically for non-employee compensation.\nIt\u2019s important to begin planning for these deadlines now, if you haven\u2019t already. Many of the other year-end objectives in this checklist are dependencies for the above deadlines, so now is the time to get to work on your end of year tasks.\nBeing organized and proactive is key to meeting these important dates.\nHoliday and Year-End Policies\nAs the calendar year comes to a close, managing holiday time-off requests becomes a top priority when there are numerous employees involved. Your goal is to ensure proper staffing levels while accommodating employees\u2019 time-off needs. This is a delicate balance. Clearly communicate about company-observed holidays and holiday pay policies to prevent confusion and ensure smooth operations.\nAnother year-end HR activity you should be thinking about is organizing holiday parties or team events. These events boost morale, foster team spirit, and give employees a chance to unwind and celebrate their hard work. Employee gifts should be selected and purchased now to ensure timely arrival before holiday parties and events.\nCompliance Check: Employment Laws and Regulations\nCompliance with employment laws and regulations is a cornerstone of HR\u2019s responsibilities. An annual review of the employee handbook ensures it aligns with current laws and accurately reflects company policies. Engaging a legal expert for this review can identify potential compliance issues that might lead to litigation, and using an HR compliance checklist can help streamline this process.\nRegular audits of employment records verify compliance with various labor regulations, including laws related to diversity, equity, and inclusion, as well as employee overtime hours and payments. Being informed about legal changes that impact year-end processes can prevent costly mistakes and ensure smooth operations.\nVerifying worker classification mitigates disguised employment risks and helps check for impending legal changes in employment, taxation, and payroll laws. Monitoring changes in federal, state, and local regulations ensures HR remains compliant with new wage laws, healthcare mandates, and leave policies.\nReviewing Employee Handbook and Policies\nThe employee handbook should be updated annually to reflect changes in PTO policies, compensation, and employee benefits. Every section of the handbook \u2013 from work related injuries to vacation time for part and full time employees to general expectations of the organization \u2013 should be reviewed.\nInvolve staff in the review process to obtain valuable insights and ensure transparency. Add disclaimers to the handbook to clarify the company\u2019s intent and help mitigate implied contractual obligations.\nSome states require a legal review of changes to the employee handbook. Since this takes even longer, it\u2019s important to start right away if your goal is to complete the changes before the new year.\nCommunicate any updates to the handbook to employees promptly, and inform them immediately after changes are implemented. This helps meet compliance requirements and reduces misunderstandings by ensuring everyone is aware of current policies and procedures.\nThe handbook should be clear and consistent with the company\u2019s actual policies and culture to avoid confusion. A well-maintained employee handbook serves as a crucial reference for both employees and HR professionals, guiding daily operations and decision-making.\nEmployee Information Verification\nBy maintaining accurate record-keeping, HR aids in compliance, streamlines day-to-day HR operations, and enhances overall departmental efficiency. Accurate employee information is especially crucial for generating correct year-end documents like W-2s.\nComplete the following in regards to employee records:\nVerify employee names and addresses \u2013 this ensures timely delivery and helps avoid unnecessary printing costs.\nDouble-check Social Security numbers on W-2 forms to prevent penalties from the IRS.\nEnsure all employee files and practices comply with legal requirements.\nBack up HR data and employee records.\nPromptly updating employee records to reflect changes in addresses, contact details, and employment status throughout the year will alleviate the workload at the end of the year. It can also make a difference in the taxes taken from an employee\u2019s paycheck, especially if the move to a different city. Best to ensure those changes are made as close to the move as possible to keep the taxes correct for both employee and the municipality.\nPrompt updates ensure all personnel files are accurate and up-to-date, crucial for both internal and external audits. It also ensures employees don\u2019t run into issues with their own taxes or social security benefits.\nPayroll and Tax Compliance\nPayroll and tax compliance is yet another critical year-end task. In preparation before the coming year:\nReview current tax rates and new wage base limits ensures accurate payroll processing.\nConfirm next year\u2019s payroll schedule and pay period dates to maintain smooth payroll management.\nPrepare fourth-quarter payroll tax returns and annual tax reports to finalize tax reporting. This includes ensuring that your company is in compliance with changing minimum wage rates and compensation rules, and maintains adherence to current employment laws.\nStay informed about filing deadlines and requirements, such as distributing W-2s and filing electronically. You\u2019ll prevent penalties and ensure compliance with federal and state employment taxes.\nBenefits and Open Enrollment Preparation\nOpen enrollment is an important period for both employees and employers, typically lasting two to four weeks. The open enrollment time slot allows employees to select or modify choices in benefits, such as health insurance, dental, and life insurance. Employers should assess whether their employee benefits package meets the needs of employees \u2013 before open enrollment begins. Thorough preparation can result in a successful open enrollment period.\nHR managers must:\nEnsure compliance\nDistribute annual compliance notices\nAnswer employee questions\nCommunicate changes clearly\nPrepare and distribute 1095-C forms to employees (ensures compliance with the Affordable Care Act)\nProvide educational resources to help bridge the \u2018knowledge gap\u2019 employees often face regarding health insurance.\nEffectively communicate during open enrollment. Remind employees of deadlines and help them better understand their health insurance and benefit options. For a remote or hybrid workforce, employers can use virtual tools and resources to facilitate open enrollment for employees.\nFinally, be sure to send a survey after year-end to gather feedback on employee information availability for benefits enrollment. This can help you improve your year end strategy next year.\nFlexible Spending Account and Benefits Reconciliation\nEmployees must submit receipts for FSA reimbursement for the year 2024 by December 31, 2024. HR should remind eligible employees to use up any outstanding ancillary benefits before they expire at year-end. It is also crucial to remind employees to submit receipts for reimbursement of work-related expenses.\nIf your company uses a QSEHRA (Qualified Small Employer Health Reimbursement Arrangement), employees must submit their medical and\/or dental insurance receipts incurred throughout the year before year end. Here is another area where these can be submitted regularly throughout the year and then reviewed at year end. Maintaining these receipts is a legal requirement to remain compliant with the QSEHRA program.\nReconciling benefits at year-end ensures all employee benefits packages are accurately accounted for. This process prevents discrepancies and ensures employees receive the benefits they are entitled to.\nConduct Annual Performance Reviews\nAnnual performance evaluations are essential for recognizing employee achievements and planning future goals. While organizations may schedule annual reviews at any time throughout the year, end of the year can be an ideal time to complete these reviews. Most employees are in the mindset of reflection and improvement for New Year\u2019s resolutions, so their review can easily support that line of thinking.\nEffective performance reviews incorporate employee input and manager observations, fostering a collaborative discussion. Using performance review software can streamline evaluations and enhance feedback quality.\nPerformance reviews are often linked to workers comp policy reviews. If this is the case at your company and they are done at year end, workers comp policies must also be reviewed.\nThis is also a great time to conduct year-end employee satisfaction or engagement surveys to inform next year\u2019s HR strategies. These evaluations provide valuable insights into employee morale and areas for improvement.\nPreparing for the Upcoming Year\nClear objectives for HR activities are essential for organizational success, so it\u2019s time to make your annual plan for next year. Year end should include ample time for your HR team to review the following as a part of your planning for the new year:\nHR budget and resource allocation\nOrganizational goals\nHR policies\nLegal changes\nCompensation, benefits, and PTO policy\nContracts with current service vendors\nManage Staffing Needs\nIn addition to preparing basic HR activities, you should also be preparing your strategy for the year ahead when it comes to hiring and retention.\nRetaining existing employees, ensuring adequate hiring, and ensuring a smooth onboarding process are all essential for an effective HR team. Complete the following to develop appropriate retention and hiring activities for the following year:\nReach out to departments for staffing proposals to improve workforce planning.\nReview job descriptions to ensure pay transparency and alignment with company goals.\nSet employee orientation dates for new hires to enhance the onboarding process.\nReview your Employer Value Proposition and ensure your activities reflect the EVP.\nDevelop your training & development strategy.\nPreparing in advance contributes to success in HR activities and sets the organization on the right path.\nSummary\nIn summary, the year-end HR checklist is an indispensable tool for ensuring that all critical HR functions are addressed before the new year begins. From key deadlines to compliance checks, employee information verification, and preparing for open enrollment, each task plays a vital role in the smooth operation of the HR department.\nAs we look forward to the upcoming year, let\u2019s remember that thorough preparation and proactive management can set the stage for success. By following this comprehensive checklist, HR professionals can confidently lead their organization into 2025, ready to tackle new challenges and opportunities.","name":"The Ultimate End of Year HR Checklist for 2024","headline":"The Ultimate End of Year HR Checklist for 2024","about":{"@type":"Thing","name":"wiki-human-resources-r","sameAs":["kg:\/m\/0cgz_","https:\/\/www.wikidata.org\/wiki\/Q5467169","https:\/\/en.wikipedia.org\/wiki\/Human_resources"],"@id":"https:\/\/www.wikidata.org\/wiki\/Q5467169"},"subjectOf":{"@type":"Blog","url":"https:\/\/jobbloghq.com\/hr-blog\/","name":"The Job Blog - HR Blog","description":"blog for human resource managers and employers","inLanguage":{"@type":"Language","name":"English","@id":"https:\/\/jobbloghq.com\/#Language"},"about":"https:\/\/www.wikidata.org\/wiki\/Q1056396","@id":"https:\/\/jobbloghq.com\/hr-blog\/"},"publisher":{"@type":"Organization","logo":{"@type":"ImageObject","url":"https:\/\/jobbloghq.com\/wp-content\/uploads\/2023\/12\/the-job-blog-lt-horiz.png","name":"The Job Blog logo","height":"116","width":"818","@id":"https:\/\/jobbloghq.com\/wp-content\/uploads\/2023\/12\/the-job-blog-lt-horiz.png"},"url":"https:\/\/jobbloghq.com\/","employee":["https:\/\/jobbloghq.com\/beverly-mapes\/#Person",{"@type":"Person","url":"https:\/\/jobbloghq.com\/amber-schneider\/","name":"Amber Schneider","description":"Amber Schneider has significant experience in staffing. 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