Processing deadlines
Note: Any corrections needed but not submitted prior to the December cut-offs, as outlined below, are subject to amendment fees.
STANDARD DEADLINES
Payrolls need to be submitted at least two banking days in advance of the check date to allow sufficient time for payroll funding and employee direct deposits to be received and posted by the check date. Due to strict banking rules, we will not make exceptions to the two-day rule. If you need to process one day before, you may be required to wire funds.
YEAR-END DEADLINES
Reminder: Process year-end adjustments early – 2024 corrections needed after the December cut-off dates specified above will not begin until Monday, March 3, 2025.
No payrolls with a 2025 check date should be processed before you have completed the processing of all 2024 payrolls and adjustments. A few important points to remember:
- Bonuses and extra payrolls: If you are paying bonuses or have extra payrolls that need to be included in your 2024 W-2s, notify your payroll specialist by Dec. 13, 2024. (Note: Wiring of funds may be required.)
- Year-end adjustment cut-off date: Payroll adjustments must be processed by 3 p.m. CT on Dec. 13, 2024 Adjustments made after Dec. 13, 2024, may result in a W-2c for employees, along with amended tax returns and fees, if applicable. We encourage you to process adjustments well in advance of Dec. 13, 2024.
- Fringe benefit adjustments: Identify and schedule special payroll adjustments, such as group-term life, auto allowances, and other fringe benefits. Because some of these fringe benefits require tax withholdings, they need to be entered at the same time as a normal payroll run before the end of the year.
- Submission of Third-Party STD and LTD Payments: Ensure all third-party disability payments (STD/LTD) are submitted to your payroll specialist no later than Dec. 30, 2024.
- After Dec. 30th: Any late submissions will require manual adjustments that will delay corrected W-2 reporting. Adjustments cannot be processed until after March 15, 2025, and will be subject to a fee of $350 per quarter.