Human Resource : End of Year Checklist

Human Resource : End of Year Checklist

We are approaching the new year, and for HR professionals, this is the busiest time of the year. Now is the perfect time to clean up all employee files and ensure your business is compliant. Over at My HR Pros, we continue to assist clients with open enrollments, processing the last payroll and bonuses, updating the system with new tax limits, minimum wage updates, and a long list to ensure our clients are taken care of before January 1, 2024. Here is an HR end of year checklist to ensure you’re on the right track to close out the year.

Verify Employee Information

Before you issue the last payroll of the year, it is important to verify the employee data for W-2s and tax reporting and to confirm all Social Security Numbers and FEIN. Incorrect information may lead to IRS penalties.

Personal information

Remind employees to keep their personal information updated, such as their addresses, phone numbers, and tax withholding. If your employee is registered and has access to their Employee Self Service portal (ESS) and has the My HR Pros app on their phone, they will receive a push notification to update their address by December 31st to guarantee receipt of their W2.
Check records and make sure employees are reflecting the correct employment status.
Take this opportunity to clean employee files. Employee medical records shouldn’t be combined with other employee documents. There are federal laws and regulations that mandate how long employee files and each document must be kept. Here is an example of what the Society for Human Resource Management (SHRM) made available as a resource for employers to follow.

Payroll & Taxes

Schedule and issue the last payroll for the current year. Plan and communicate with your payroll team to ensure bonuses are issued within this year’s wage. Report all cash and non-cash benefits to payroll to ensure they make it onto the employee’s W2. Companies that must comply with the Affordable Care Act must prepare 1095-C forms. 1099s and W2s should be ready to be issued by January 31st.
Prepare to report payroll taxes, unemployment, income, social security, and Medicare taxes.
Confirm the new year payroll schedule and provide employees with a calendar.
It is also a great time to review employee compensation with the 2024 market in your specific location and industry. Review state and local wage rates.


Employee handbooks should be reviewed annually, and any changes should be announced to employees.
Update OSHA logs of work-related injuries and illnesses. Click here to learn more about what our Workers’ Compensation Service can provide and assist with.
Research federal, state, and local employment and labor laws, which include minimum wage rates that may go into effect on January 1. Check all employment posters and update them as necessary.
Schedule annual meetings and trainings for the upcoming year– management, harassment, etc. It’s important to ensure you are complying with mandated training. My HR Pros’ Compliance team has a list of trainings that we can assist with. To learn more about our Enhanced HR and trainings, click here.


Review employee time off. If you have a payout or a use it or lose it policy, communicate and remind employees of their options.
Share 2024 paid holidays and share any additional time, such as floating holidays.
Provide the necessary documents to employees: 401k and benefits plan documents.
Remind employees of any changes to their insurance benefits plans and remind employees to check their beneficiaries.
If you have an FSA plan, set it up, and employees will need to enroll before the new year.


The year-end checklist can be overwhelming and limitless, but following the above will point you in the right direction to close the year. Once you tackle your checklist, enjoy the holidays and prepare yourself for 2024!

Written by Kia Yang


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