ACA HR Compliance Deadlines- Need to Know Calendar

HR Compliance Calendar 2023

A HR compliance calendar is a valuable tool to help your business stay on track with key employment-related deadlines throughout the year. HR compliance is a complex area with many moving parts. Keeping track of HR deadlines during 2023 can help your business prepare and avoid the penalties or workplace disruption that may be a result of noncompliance.

There are a number of HR compliance tasks with predictable deadlines that you can anticipate from year to year, such as providing your employees with Form W-2 and filing Form 5500 for your employee benefit plans. Other deadlines can be unpredictable or triggered by certain events, such as when you hire a new employee or when an employee gets injured at work. Knowing what your business is required to do and when is the best way to stay compliant.

Use this HR calendar to keep track of important compliance tasks for 2023. This calendar includes a month-by-month summary of key HR compliance deadlines and helpful reminders for compliance tasks to complete throughout the year. It also describes compliance tasks that are dynamic, which only occur when certain events happen, to help you anticipate those deadlines.

Key HR Compliance Deadlines for May

May 1, 2023, Deadlines

May 1, 2023—File Form 941, Employer’s Quarterly Federal Tax Return

File Form 941 with the IRS by May 1, 2023, to report the federal income tax, social security tax and Medicare tax you withheld from your employees’ pay during the first quarter of 2023 (January, February and March). Because the normal filing deadline (April 30, 2023) falls on a Sunday, you can file returns on the next business day, May 1, 2023. Companies that timely deposited all taxes when due have 10 additional calendar days to file Form 941, or until May 10, 2023.

Key HR Compliance Deadlines for June

June 1, 2023, Deadlines

Confirm that your health plan’s annual prescription drug data collection report submission to CMS by June 1, 2023. A new transparency provision 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 will rely on third parties, such as issuers, third-party administrators or pharmacy benefit managers, to prepare and submit the RxDC report for their health plans.

Compliance Reminders

As 2023 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 trainings.

– Updating the employee handbook and employment policies as necessary.

– Making a schedule for any required workplace training, such as sexual harassment training.