HR, Payroll & Benefits Year-End Checklist
As the year comes to a close, follow this important checklist to wrap up your HR, payroll, and benefits needs for the year. Download the checklist here!
Human Resources
☐ Verify home address for all employees
☐ Reconcile all vacation/sick and/or Paid Time off 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.
Payroll
☐ Reconcile manual checks to annual totals
☐ Send reminder to all employees to verify their social security number and address on pay stubs (use our pre-written email!)
☐ Review taxable fringe benefits that must be posted into payroll for W2 reporting
☐ Capture all information (ex: personal use of company car, relocation, bonuses, etc.)
☐ Check third party sick pay (short or long term disability) postings to make sure you have captured all information required
☐ Create a list of outstanding checks to ensure you comply with your State Escheat Laws (unclaimed property).
Benefits
☐ Verify current employee and accurate dependent coverage
☐ Distribute new health/dental insurance cards
☐ Compile Census information for retirement plan testing (highly compensated).
☐ Review list of 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.
