At Clarity, we know that compliance can be complicated and potentially costly—the IRS collected $2.6 billion in civil penalties in 2017 alone. As 2019 gets underway, employers, brokers, and HR professionals should start marking their calendars with these important compliance dates through the rest of the year. There are other dates to keep track of, but this is a comprehensive list of the absolutely most essential dates.
January 31, 2019
The end of January is the deadline for businesses to send out their W-2 forms to employees and 1099-MISC forms to vendors and contractors. Employers who fail to do so by this date can face penalties.
The IRS advises employers to begin preparing the forms well in advance to allow time to correct W-2 errors.
February 1, 2019
Large businesses should be careful—the W-2 and 1099-MISC deadline is directly before the OSHA deadline. February 1st is the day large businesses (of 250 or more employees) have to post the previous year’s OSHA summary of injuries and illnesses.
Maintain company injury and illness records and complete an Injury Tracking Application electronically. Then, OSHA is able to compile information from every large organization to evaluate workplace safety, and implement new strategies to prevent future injuries.
February 28, 2019
All Applicable Large Employers (ALEs) are required to submit 1094-C and 1095-C forms by this day. Non-ALEs—employers with fewer than 50 full-time employees—have to send their 1094-B and 1095-B forms by this day as well. These documents are essentials to employees as they file their tax returns.
March 1, 2019
March 1st is the deadline for M-1 forms submissions to the IRS. This report documents information regarding a Multiple Employer Welfare Arrangement.
June 1, 2019
EEO-1 reports are due on the first of June. The EEO-1 is a compliance survey mandate by federal statute and regulations. It requires company data to be categorized by race, ethnicity, gender, and job category. Then, federal agencies use this data to enforce civil rights and analyze employment patterns across industries. Not every company is required to submit an EEO-1 Report—find out if your company meets the criteria here.
July 31, 2019
PCORI (Patient-Centered Outcomes Research Initiative) payments are due by the end of July. The IRS collects this annual trust fund fee from issuers of certain health insurance policies. The payments are then used to “assist, through research, patients, clinicians, purchasers, and policy-makers, in making informed health decisions by advancing Find out if your organization is responsible for reporting and paying the PCORI fee here.
October 15, 2019
If your organization offers prescription drug coverage, you are required to provide written notice of credibility to employees covered by a drug plan by October 15th—before Medicare’s annual enrollment period. The documents can be delivered by mail or electronically, but if your company doesn’t offer this type of coverage, then notice isn’t required.
Compliance can be complicated (and very expensive if you miss important deadlines!). Clarity helps you avoid costly penalties.
With our expertise and innovative software, we’ll help minimize your risk of noncompliance and make sure you’re prepared. We’ll do the heavy lifting for you and provide a 24/7 compliance portal, so you can focus on what matters most to your business. Visit our employers’ page to learn more!
Sources:
1. https://www.zenefits.com/blog/7-must-know-2019-hr-compliance-dates/
