Planning Your Year

As 2024 begins, review your company’s compliance with federal, state and local employment laws, including any new requirements. This review should include:

• Checking that workplace posters are up to date.
• Verifying minimum wage and overtime requirements and updating the wage base limit for withholding.
• Reviewing procedures for completing Form I-9 (Employment Eligibility Verification).
• Confirming employee leave policies are consistent with federal, state and local leave requirements.
• Reviewing any new fair employment law protections and incorporating changes into employee training.
• Updating the employee handbook and employment policies as necessary.
• Making a schedule for any required workplace training, such as sexual harassment training.
• Reviewing recruitment and compensation practices to ensure they are consistent with any applicable pay transparency laws.

January

Jan. 31, 2024—File and Furnish Forms W-2
File Forms W-2 with the Social Security Administration by Jan. 31, 2024. Companies may request a 30-day filing extension by using Form 8809, but extensions will only be granted in limited cases for extraordinary circumstances or catastrophes. Forms W-2 must also be furnished to employees on or before Jan. 31, 2024.

Jan. 31, 2024—File and Furnish Forms 1099-NEC, Nonemployee Compensation
File Forms 1099-NEC with the IRS by Jan. 31, 2024, if your company made payments totaling $600 or more for services performed by nonemployees, such as independent contractors, in 2023. A 30-day filing extension may be requested by using Form 8809, but extensions will only be granted in limited cases for extraordinary circumstances or catastro- phes. Companies must also furnish statements to the nonem- ployees on or before Jan. 31, 2024.

Jan. 31, 2024—File Form 941, Employer’s Quarterly Federal Tax Return
File Form 941 with the IRS by Jan. 31, 2024, to report the federal income tax, social security tax and Medicare tax you withheld from your employees' pay during the fourth quarter of 2023 (October, November and December). If your company timely deposited all taxes when they were due, the filing deadline is extended to Feb. 10, 2024. However, since Feb. 10, 2024, is a Saturday, the extended deadline is the next busi- ness day, which is Feb. 12, 2024.

Jan. 31, 2024—File Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return
File Form 940 with the IRS by Jan. 31, 2024, to report taxable FUTA wages paid in 2023. If your company deposited all its FUTA tax when it was due, the filing deadline is extended to Feb. 10, 2024. However, since Feb. 10, 2024, is a Saturday, the extended deadline is the next business day, which is Feb. 12, 2024.

February

Feb. 1, 2024—Post OSHA Form 300A (Summary of Work-related Injuries and Illnesses)
Post OSHA Form 300A by Feb. 1, 2024, in an area in the workplace where employee notices are customarily posted. This form, which summarizes workplace data from 2023, must remain on display until April 30, 2024. This requirement does not apply to companies with 10 or fewer employees or employers in a partially exempt industry.

Feb. 15, 2024—Forms W-4 That Claim Exemption From Withholding for 2023 Expire
Request a new Form W-4 from any employee who claimed an exemption from income tax withholding last year and wants to claim the exemption again for 2024. If the employee doesn’t give you a new Form W-4, withhold tax as if the employee is single or married and filing separately without any allowances.

Feb. 28, 2024—File ACA Forms 1094-C and 1095-C (Paper Filing Deadline)
Paper Filing Is No Longer an Option for Most Employers The deadline for applicable large employers (ALEs) to file Affordable Care Act (ACA) Forms 1094-C and 1095-C on paper with the IRS is Feb. 28, 2024. This deadline only applies to filing paper versions of these forms; the deadline for elec- tronic filing is April 1, 2024. Beginning in 2024, most employ- ers subject to ACA reporting are required to file their returns electronically. Paper filing is only an option for very small employers (i.e., employers who file fewer than 10 information returns during the year). A hardship waiver may be requested from the electronic filing requirement by submitting Form 8508 to the IRS. Reporting entities are encouraged to submit Form 8508 at least 45 days before the due date of the returns.

Feb. 28, 2024—File ACA Forms 1094-B and 1095-B (Paper Filing Deadline)
Paper Filing Is No Longer an Option for Most Employers. The deadline for non-ALEs with self-insured health plans to file Forms 1094-B and 1095-B on paper with the IRS is Feb. 28, 2024. This deadline only applies if your company files paper versions of these forms; the deadline for electronic filing is April 1, 2024. Beginning in 2024, most employers subject to ACA reporting are required to file their returns electronically. Paper filing is only an option for very small employers (i.e., employers who file fewer than 10 information returns during the year). A hardship waiver may be requested from the elec- tronic filing requirement by submitting Form 8508 to the IRS. Reporting entities are encouraged to submit Form 8508 at least 45 days before the due date of the returns.

Feb. 29, 2024—Submit the Medicare Part D Disclosure to CMS (Calendar-year Plans Only)
Submit an online form to the Centers for Medicare and Medicaid Services (CMS) indicating whether your health plan’s prescription drug coverage is creditable or non-creditable. The deadline for submitting this annual disclosure is 60 days after the beginning of the plan year. For calendar-year health plans, the deadline for the annual online disclosure is normally March 1. However, since 2024 is a leap year, the deadline is Feb. 29, 2024.

March

March 1, 2024—File Form M-1 for MEWAs
Administrators of multiple employer welfare arrangements (MEWAs) that offer medical benefits must electronically file Form M-1 with the U.S. Department of Labor (DOL) each year by March 1. In general, MEWAs are arrangements that offer benefits to the employees of two or more different employers, including association health plans. A 60-day automatic exten- sion may be requested by the filing deadline.

March 1, 2024—Provide ACA Form 1095-C to Employees
Furnish Form 1095-C to employees by March 1, 2024, if your company is an ALE. These statements were required to be provided on or before Jan. 31; however, the IRS extended this deadline by 30 days. With the extension, the deadline is normally March 2. However, since 2024 is a leap year, the deadline is March 1, 2024.

March 1, 2024—Provide ACA Form 1095-B to Employees
Furnish Form 1095-B to employees by March 1, 2024, if your company is a non-ALE with a self-insured health plan. These statements were required to be provided on or before Jan. 31; however, the IRS extended this deadline by 30 days. With the extension, the deadline is normally March 2. However, since 2024 is a leap year, the deadline is March 1, 2024.

March 2, 2024—Submit Electronic Reports to OSHA
Submit OSHA Form 300A by March 2, 2024, for establish- ments with at least 250 employees who are required to create and maintain OSHA records. Establishments with 20-249 employees in certain high-hazard industries must also submit this data by March 2, 2024. Beginning in 2024, employers with 100 or more employees in certain high-hazard indus- tries must submit additional injury and illness information from their OSHA Forms 300 and 301. Companies use OSHA’s Injury Tracking Application to submit their reports.

March 2024—Monitor the Deadline for Filing the EEO-1 Report With the EEOC
Private sector employers with 100 or more employees and federal contractors with 50 or more employees meeting certain criteria must submit demographic workforce data to the Equal Employment Opportunity Commission (EEOC) each year as part of the EEO-1 data collection. In general, these reports are due by March 31 each year. However, the EEOC has delayed this deadline in previous years. For example, the deadline for reporting data for 2022 was delayed until Dec. 5, 2023. The EEOC will update its EEO-1 data collection website to announce when the data collection period will open in 2024.

April

April 1, 2024—Electronically File ACA Forms 1094-C and 1095-C
File Forms 1094-C and 1095-C with the IRS by April 1, 2024, if your company is an ALE. The normal filing deadline is March 31. However, since March 31, 2024, is a Sunday, electronic returns must be filed by the next business day, which is April 1, 2024. Employers may request an automatic 30-day extension by filing Form 8809 by the filing due date. Beginning in 2024, most employers subject to ACA reporting are required to file their returns electronically. Paper filing is only an option for very small employers (i.e., employers who file fewer than 10 information returns during the year). The paper filing deadline is Feb. 28, 2024.

April 1, 2024—Electronically File ACA Forms 1094-B and 1095-B
File Forms 1094-B and 1095-B with the IRS by April 1, 2014, if your company is a non-ALE that sponsors a self-insured health plan. The normal filing deadline is March 31. However, since March 31, 2024, is a Sunday, electronic returns must be filed by the next business day, which is April 1, 2014. Employ- ers may request an automatic 30-day extension by filing Form 8809 by the filing due date. Beginning in 2024, most employers subject to ACA reporting are required to file their returns electronically. Paper filing is an option only for very small employers (i.e., employers who file fewer than 10 infor- mation returns during the year). The paper filing deadline is Feb. 28, 2024.

April 30, 2024—Remove OSHA Form 300A (Summary of Work-related Injuries and Illnesses)
Remove your company’s OSHA Form 300A posting at any time on or after April 30, 2024. This form, which summarizes workplace data from 2023, must be posted from Feb. 1, 2024, until April 30, 2024. This posting requirement does not apply to companies with 10 or fewer employees or employers in a partially exempt industry.

April 30, 2024—File Form 941, Employer’s Quarterly Federal Tax Return
File Form 941 with the IRS by April 30, 2024, to report the federal income tax, social security tax and Medicare tax you withheld from your employees’ pay during the first quarter of 2024 (January, February and March). If your company timely deposited all taxes when they were due, the filing deadline is extended to May 10, 2024.

May

No notable dates

June

June 1, 2024—Submit Your Health Plan’s Prescription Drug Data Collection Report
Confirm that your health plan’s annual prescription drug data collection report is submitted to CMS by June 1, 2024. Because June 1, 2024, is a Saturday, CMS may extend the submission deadline to the next business day, which is June 3, 2024. A transparency law requires employer-sponsored health plans and health insurance issuers to annually report information about prescription drug spending to the federal government. This reporting process is referred to as the “prescription drug data collection” (or “RxDC report”). Most employers rely on third parties, such as issuers, third-party administrators (TPAs) or pharmacy benefit managers, to prepare and submit the RxDC report for their health plans.

July

July 31, 2024—File Form 941, Employer’s Quarterly Federal Tax Return
File Form 941 with the IRS by July 31, 2024, to report the federal income tax, Social Security tax and Medicare tax you withheld from your employees’ pay during the second quar- ter of 2024 (April, May and June). If your company timely deposited all taxes when they were due, the filing deadline is extended to Aug. 10, 2024. However, since Aug. 10, 2024, is a Saturday, the extended deadline is the next business day, which is Aug. 12, 2024.

July 31, 2024—Report and Pay PCORI Fees (Self-insured Health Plans Only)
If you have a self-insured health plan, report and pay fees to fund the Patient-Centered Outcomes Research Institute (PCORI) by July 31, 2024. Employers use IRS Form 720 to report and pay PCORI fees. PCORI fees for plan years ending in 2023 are due by July 31, 2024.

July 31, 2024—File Form 5500 for the 2023 Plan Year (Calendar-year Plans Only)
File Form 5500 with the DOL by July 31, 2024, for your ERISA-covered employee benefit plans that operate on the calendar year unless a reporting exemption applies. Form 5500 must be filed by the last day of the seventh month following the end of the plan year. For calendar-year plans, this deadline is July 31. An automatic extension of 2.5 months may be requested by filing IRS Form 5558 by the due date. Small welfare benefit plans (fewer than 100 participants) that are fully insured, unfunded, or a combination of insured/unfunded are generally exempt from the Form 5500 filing requirement.

August

No notable dates.

September

Sept. 30, 2024—Provide SAR to Plan Participants (Calendar-year Plans Only)—If Form 5500 Deadline Was Not Extended
Provide a summary annual report (SAR) to plan participants by Sept. 30, 2024, for calendar-year plans if the employee benefit plan’s Form 5500 deadline was not extended. The SAR must be provided within nine months of the close of the plan year unless the plan’s Form 5500 deadline was extended. Plans exempt from the annual 5500 filing requirement are not required to provide an SAR. Unfunded welfare plans are also generally exempt from the SAR requirement.

Sept. 30, 2024—Watch for MLR Rebates (Fully Insured Health Plans Only)
Employers with insured health plans might receive rebates if their issuers did not meet their medical loss ratio (MLR) percentage for 2023. Rebates must be provided by Sept. 30 following the end of the MLR reporting year. Employers who receive rebates should consider their legal options for using the rebate. Any rebate amount that qualifies as a plan asset under ERISA must be used for the exclusive benefit of the plan’s participants and beneficiaries. Also, as a general rule, plan sponsors should use the plan asset portion of the rebate within three months of receiving it to avoid ERISA’s trust requirements.

October

Oct. 2, 2024—Apply to CMS for the Retiree Drug Subsidy (Calendar-year Plans Only)
The retiree drug subsidy (RDS) is available to certain employ- ers who sponsor group health plans covering retirees who are entitled to enroll in Medicare Part D but elect not to do so. To participate in the RDS program, eligible employers must submit an application to CMS before the beginning of the plan year by a date specified by CMS (usually about 90 days before the beginning of the plan year). The approximate dead- line is Oct. 2, 2024, for plan years beginning on Jan. 1, 2025. This deadline may be extended by 30 days if CMS grants an extension.

Oct. 3, 2024—Provide ICHRA Notice for 2025 Plan Year (Calendar-year Plans Only)
Employers who offer individual coverage health reimburse- ment arrangements (ICHRAs) must provide a notice to eligible employees regarding the ICHRA’s coverage. This notice must be provided at least 90 days before the beginning of each plan year. For ICHRAs that operate on a calendar year basis, this notice must be provided by Oct. 3, 2024, for the upcom- ing 2025 plan year. Model notice is available for employers to use.

Oct. 3, 2024—Provide QSEHRA Notice for the 2025 Plan Year (Calendar-year Plans Only)
Employers who offer qualified small employer health reim- bursement arrangements (QSEHRAs) must provide a notice to eligible employees regarding the QSEHRA’s coverage. This notice must be provided at least 90 days before the beginning of each plan year. For QSEHRAs that operate on a calendar year basis, this notice must be provided by Oct. 3, 2024, for the upcoming 2025 plan year.

Oct. 14, 2024—Provide Medicare Part D Notices to Plan Participants
Notify Medicare Part D eligible individuals by Oct. 14, 2024, whether the health plan’s prescription drug coverage is creditable or non-creditable. CMS has model notices that employers may use.

Oct. 15, 2024—File Form 5500 for the 2023 Plan Year (Calendar-year Plans Only)—Form 5500 Deadline Was Extended
File Form 5500 with the DOL by Oct. 15, 2024, if you have a calendar-year plan and applied for the automatic 2.5-month filing extension.

Oct. 31, 2024—File Form 941, Employer’s Quarterly Federal Tax Return
File Form 941 with the IRS by Oct. 31, 2024, to report the federal income tax, Social Security tax and Medicare tax you withheld from your employees’ pay during the third quarter of 2023 (July, August and September). Employers who timely deposited all taxes when due have 10 additional calendar days to file Form 941 or until Nov. 10, 2024. However, since Nov. 10, 2024, is a Sunday, the extended deadline is the next business day, which is Nov. 11, 2024.

November

No notable dates.

December

Dec. 15, 2024—Provide SAR to Plan Participants (Calen- dar-year Plans Only)—If Form 5500 Deadline Was Extended
Provide an SAR to covered employees by Dec. 15, 2024, if you have a calendar-year plan and the plan’s form 5500 deadline was extended. In general, the SAR must be provided within nine months of the close of the plan year. However, if the plan’s Form 5500 deadline was extended, the SAR must be provided within two months after the close of the extension period. For calendar-year plans, this extended deadline is Dec. 15, 2024. Plans that are exempt from the annual 5500 filing requirement are not required to provide a SAR. Unfunded welfare plans are also generally exempt from the SAR requirement.

Dec. 31, 2024—Submit a Gag Clause Attestation for Your Health Plan
A federal transparency law requires health plans and health insurance issuers to submit attestations of compliance with the prohibition on gag clauses by Dec. 31 each year. Plans and issuers submit their attestations through a CMS website. If the issuer for a fully insured health plan provides the attes- tation, the health plan does not also need to provide an attes- tation. Employers with self-insured health plans can enter into written agreements with their TPAs to provide the attestation, but the legal responsibility remains with the health plan.

Closing Out the Year

As 2024 comes to a close, review your company’s compliance to ensure that all required activities will be completed by the end of the year. This review may include the following tasks:

• Complete any outstanding annual performance reviews.

• Confirm that any required workplace employee training will be completed by the appropriate deadline.
• Encourage employees to fill out a new Form W-4 for 2025 if they have experienced personal or financial changes that impact their tax withholding.
• Confirm that annual nondiscrimination testing has been performed for employee benefit plans that are subject to these testing requirements, including Section 125 cafete- ria plans, self-insured health plans, health FSAs, depen- dent care FSAs, HRAs, group term life insurance and retirement plans.