Year End Reminders

We are quickly approaching the end of the year, so we wanted to remind all Payroll clients to prepare the following if they apply to you.

If you will have check date of 12/27/24: We will need to have your payroll submitted on Monday, 12/23/24 because of early cutoffs of our ACH processors on Christmas Eve. With the high volume of payrolls that need to be processed with a check date of Friday that week, we will need to have payrolls submitted on Monday.

If you will have any bonus runs:

Please submit your bonus information using this link to Microsoft Forms (and contact your payroll specialist) at least a week prior to needing to process the bonuses
We have some processing tools that can facilitate doing these bonus runs if you give us advance notice of needing to pay the bonuses, so please reach out to your processor a week or two prior to needing to pay the bonuses
There may be some additional fees for grossing up checks or other special requirements

If you have any of the following, please gather the information and have them ready to be entered into payroll before the last payroll of the year:

S-Corp health insurance
Personal use of vehicle
Group term life in excess of $50,000
Employer paid health insurance to be recorded on W2
Third party sick pay

The following are bank holidays, so check if they will affect your processing schedule:

Thursday, November 28: Thanksgiving Day
Wednesday, December 25: Christmas
Wednesday, January 1: New Year’s Day

Also, a reminder that for any direct deposit over $100,000 for an individual or over $500,000 for the entire payroll, a five-day processing window or wire of the funds will be needed.

Thank you,
The CPU Payroll Team

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