Note: This calendar is designed to help our clients review the key human resources-related reporting and notice requirements that may apply to their organizations. Please note that this list is for general reference purposes only and is not all-inclusive. Many of the compliance requirements are complex ERISA or other statutory legal filings and responsibilities may vary depending on your company’s plans. We encourage you to consult with your insurance brokers, plan administrators and/or your ERISA and tax advisors for further guidance.
Certain documents or forms provided by the IRS, or other sources were issued as drafts, or for the effective date at the time of publication. For the most current information, please check with a tax professional, benefit professional and/or the correlating websites. (i.e. irs.gov/LatestForms, etc.)”
- New Year’s Day – January 1
- MLK Day – 3rd Monday in January
Important Dates and Deadlines for this Month
- Coverage begins for new year health insurance plans for individuals through the Marketplace.
First Monday on Third Week of January
- Tax season begins. *
- Deadline to file Form 941 reporting on Q4 of 2019.*
- Deadline for employers to furnish Form W-2 to all employees and Form 1099-MISC to all independent contractors, vendors, etc., for work performed in previous year. Deadline to file Forms W-2, W-3, 8027, 1099, and 1096 to the appropriate agencies (electronic and paper).
- The due date for furnishing Form 1095-C to employees is extended from January 31, 2020, to March 2, 2020. See Notice 2019-63 and Extension of Time To Furnish Statement to Recipients.
- Deadline to file Form 1099-MISC, if reporting NEC in box 7.
- Deadline to deposit the Form 940, Federal Unemployment Tax Rate (FUTA) if owed.*
- Deadline to file Form 945 to report any nonpayroll federal income tax withheld.*
Topics to Discuss and/or Review
1. Verify minimum wage requirements for facility locations. (check federal, state, and local laws as minimum wage varies).
2. Record retention: Maintain necessary records and purge outdated records. (See laws on I-9 record retention).
3. Finalize Employee Handbook (If applicable).
4. Update all internal resources for appropriate year limits and reporting requirements.
5. Distribute updated Employee Handbook or updates to Company Polices, collect and store Employee Handbook Acknowledgements, and/or contractual agreements.
6. Review required employee communications for the upcoming year.
- Certain notices must be available to employees upon request, required by federal, state, or local laws or given circumstances (i.e. COBRA information, statutory required pamphlets, benefit summaries, etc.)
- Post new compliance posters, update required pamphlets and wage orders (if necessary).
- Check to see what requirements in your City/State has for required notices/employee communications.
7. Work with benefits broker to ensure that all filing deadlines for benefits plans and health care reform elements are met (such as quarterly disclosure notices for 401(k) plans, etc.).
8. Review Employee Personnel Documents for upcoming Evaluations.
- Prepare for employees’ performance evaluations by comparing past evaluations noting current level of performance, examining the progress made since the last review, and establishing goals for employees’ next review.
- Determine if any salary increases should be made at this time based on performance, productivity, seniority and other lawful factors contemplated by the Company.
9. Schedule Annual Performance Evaluations.
- Follow through with Performance Evaluations.
- Determine if the evaluation was effective (i.e. notice any changes in employee’s work quality or quantity, or any changes in employee’s performance after evaluation.