As 2018 draws to a close, now is a good time to make sure we have all of our HR “must dos” on our calendars for the New Year. Here’s a handy chart that lists some of the major things you’ll need to do in 2019:
- All employers must give employees copies of Form W-2 for the previous year.
- Form W-3 (Transmittal of Wage & Tax Statements) along with Copy A of all Forms W-2 issued in the previous year must be submitted to the Social Security Administration
- Form 941 for the fourth quarter of the previous year is due. This report includes information about Social Security, Medicare, and income tax withheld.
- Form 940 – Federal Unemployment Tax.
- Health Care reporting – Applicable Large Employers (ALE) must provide Form 1095-C (Employer Provided Health Insurance Offer & Coverage) to full time employees. For all other providers of minimum essential coverage, provide Form 1095-B to individuals.
- OSHA 300-A (Summary for the previous year) must be posted February 1 through April 30
- Begin withholding income tax from the pay of any employee who claimed exemption from withholding in the previous year but didn’t give you a Form W-4 to continue the exemption for this year.
- ALEs must file Forms 1094-C and 1095-C with the IRS.
- Employers with 250+ employees or employers with 20-249 employees in certain industries must electronically submit information from their OSHA
300-A log from the previous year to OSHA.
- 31st EEO-1 Report must be filed by employers with 100+ employees and employers with 50+ employees and a prime contract or first-tier subcontract amounting to $50,000 or more.
- File Form 941 for the first quarter of the year.
- File Form 940 – Federal Unemployment Tax. Deposit taxed owed through March if more than $500.
- File Form 941 for the second quarter of the year.
- Form 940 – Federal Unemployment Tax. Deposit taxed owed through June if more than $500.
- Form 5500 or Form 5500-EZ must be filed if you maintain an employee benefit plan, such as a pension plan, profit sharing plan, or stock bonus plan. If you use a fiscal year as your plan year, file the form by the last day of the seventh month after the plan year ends.
- Vets-4212 must be submitted by all nonexempt Federal contractors and subcontractors with a contract or subcontract in the amount of $150,000 or more with any department or agency of the United States for the procurement of personal property or non-personal services.
- Notices of creditable coverage disclosures for Medicare Part D must be provided to eligible individuals no later than October 15.
- File Form 941 for the third quarter of the year.
- Form 940 – Federal Unemployment Tax. Deposit taxed owed through September if more than $500.
- It is generally recommended that employers ask employees whose withholding allowances will change in the new year to complete a new Form W-4, which should be available on the IRS website in mid-December.
OTHER TO DOs
Depositing Employment Taxes
- In general, you must deposit federal income tax withheld, and both the employer and employee social security and Medicare taxes.
- There are two deposit schedules, monthly and semi-weekly. Before the beginning of each calendar year, you must determine which of the two deposit schedules you are required to use.
- To determine your payment schedule, review Publication 15 for Forms 941, 944 and 945, or Publication 51 for Form 943.
- Deposits for FUTA Tax (Form 940) are required for the quarter within which the tax due exceeds $500. The tax must be deposited by the end of the month following the end of the quarter.
- You must use electronic funds transfer (EFTPS) to make all federal tax deposits.
- Must be provided when an employee is initially eligible and annually thereafter
- Must be provided when an employee/dependent is initially eligible for coverage AND must be included in the Summary Plan Description.
- There are also specific time frames when a qualifying event occurs that an employee/dependents must be notified. Generally, the employer has 30 days to notify the plan administrator of a qualifying event and the plan administrator has 14 days to notify the employee/dependents.
- Section 1 must be completed by the employee on the first day of hire.
- Section 2 must be completed by the employer (or employer representative) by the third day of the individual’s hire date.
Notice to Employees of Marketplace Coverage Options
- Must be provided to employees when they initially are eligible to enroll in group health insurance benefits and annually thereafter.
- There are two different notices available…one for those that offer group health insurance and one for those who do not.
- It’s recommended that harassment training for both employees and supervisors/managers be conducted annually. It’s also recommended that employers re-distribute their policies regarding harassment/discrimination at the same time.
- It’s recommended that employers review and make necessary revisions to their handbook each year. Many employers try to time this so that a new handbook or appropriate revised policies would be issued in time for the New Year.
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