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Vida HR Year-End HR Checklist

Vida HR Year-End HR Checklist

Woman holding checklist with smaller woman peeking behind with a magnifying glass

As your HR partner, Vida HR manages most year-end tasks to keep you compliant and ready for the new year. Below is a checklist that includes items Vida HR will handle on your behalf, as well as areas where employees may need to verify their information.


Below is an Year-End HR Checklist that includes items to make sure you are up to date.


1. Business Information Confirmation

  • Employer Identification:

    • Vida HR ensures your state and federal employer identification numbers (EINs) and state unemployment account numbers are current and accurate in our records.


2. Set Compensation and Year-End Bonuses

  • Compensation Planning for 2025: 

    • Vida HR will manage any required adjustments to minimum wage and exempt salary thresholds to ensure compliance with new regulations.

  • Year-End Bonuses: 

    • Notify us promptly if you plan to issue bonuses so we can process them within the 2024 tax year.


3. Employee Information Verification

  • Address Confirmation: 

    • Vida HR will send a notification through isolved for employees to verify or update their current address to ensure timely and accurate W-2 delivery.

  • Verification of Employee Status: 

    • We will confirm termination statuses and process necessary updates to maintain accurate records.



4. W-2 and Tax Form Preparation

  • W-2 Preparation: 

    • Vida HR will handle W-2 preparation and ensure taxable benefits, such as company vehicle use, are properly documented.

  • Form 1099-NEC for Contractors: 

    • For contractors earning over $600, Vida HR will prepare and distribute 1099-NEC forms.

  • ACA Compliance: 

    • For applicable employers, we will prepare Forms 1094-C and 1095-C, handling IRS submissions and distributing forms to eligible employees.


5. Payroll and Benefits for the New Year

  • Benefit Deductions from Open Enrollment: 

    • Vida HR will update payroll records to reflect any benefit changes from open enrollment, effective January 1, 2025.

  • 401(k) Contributions: 

    • We’ll send reminders to employees to review and update their 401(k) contributions, if applicable, in line with 2025 limits.


6. Annual Employee Handbook Updates

  • Policy Updates: 

    • Vida HR will update your employee handbook with relevant policy changes for 2025. Please review and approve promptly for timely distribution to employees.


7. EEO-1 Reporting for Eligible Employers

  • EEO-1 Reporting: 

    • For employers with 100 or more employees, Vida HR will complete the EEO-1 filing to ensure compliance with federal reporting requirements.



8. Verify Tax Form Deadlines and Compliance

  • Forms W-2 and W-3: 

    • Vida HR will submit W-2s and W-3s to the SSA and distribute employee copies by January 31.

  • FUTA, FICA, and Quarterly Form 941: 

    • We handle these filings to ensure compliance with federal deadlines.




9. Total Compensation Statements

  • Total Compensation Review: 

    • Your assigned HRBP will coordinate with you to discuss whether you’d like total compensation statements available for your employees. These statements provide a clear picture of the full value of employee benefits, enhancing transparency and engagement.




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