4 Actionable Tips For This Year’s Compliance Filing

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Compliance filing should be a year-round initiative, not just a mad dash before forms are due. Staying on top of compliance and requirements throughout the year with quarterly or monthly audits will make filing a breeze as deadlines approach.

But what measures are savvy HR teams taking to stay on top of this year’s compliance?

Here are four quick, actionable tips from Heather, our Vice President of HCM Operations, to improve your compliance filings in 2019.

W-2 Forms

HR plays an important role in ensuring employee data entry is accurate and up to date. Ask your HCM provider if they can assist in keeping SSN’s, employee names and other information correct through the integration of E-Verify into the onboarding process. Also, schedule a quarterly campaign to encourage employees to verify tax withholding and address information.

As a reminder, January 31st is the deadline to file and distribute W-2s.

 

ACA Forms

Leverage your benefits platform to monitor and review ACA data monthly, if not quarterly. This includes running the potential penalty report, previewing forms and reviewing ACA calculation errors regularly. Doing so will shorten the forms approval process during what is certainly an already chaotic time of year for HR.

stethoscope on medical textbook

Stay up to date with the latest best practices and deadlines with our ACA Guide.

EOO-1 Filing

Learn how to limit or eliminate data entry issues by contacting your HCM provider. Ideally, they will be able to easily link job code to EEO categories. Then, audit the data quarterly to ease the cleanup process prior to filing, and leverage your HCM to create an electronic file for submission.

As a reminder, the 2019 deadline for EEO-1 filing has been extended to May 31st.

Disaster Recovery and Business Continuity

Identify a committee to review and update your disaster recovery plan annually. As a general rule, avoid updates to this plan just prior to a threatening disruption. For example, coastal regions should avoid scheduling this annual review right before or during hurricane season. 

HR manager making list

Be sure to include a section for government shutdowns and potential repercussions (E-verify, IRS Support) and consider having a loan program available to assist families that might be financially impacted by the shutdown.

Remember, compliance should be top of mind throughout the year, and the cost of non-compliance can be devastating. Stay on top of requirements through regularly scheduled audits, and remain cognizant of any changes to requirements, deadlines, etc. Doing so will ensure a quick and painless process as deadlines approach!

Can Your HCM Do That?

If your current HCM lacks any of the features and functionality mentioned above, it might be time for an upgrade. Contact us below for a complimentary consultation and take your HR experience to the next level with PlanSource.

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