In the realm of business operations, meeting regulatory deadlines is paramount. Here, we outline...
As we dive into the new year, businesses must stay informed about key deadlines and compliance requirements to ensure smooth operations and avoid penalties. From healthcare reporting to workplace safety, various obligations loom on the horizon. Let's explore the essential deadlines for March 2024 and what they entail for employers.
Filing Form M-1 for MEWAs
Administering multiple employer welfare arrangements (MEWAs) comes with its set of responsibilities, particularly when it comes to offering medical benefits. Each year, administrators must electronically file Form M-1 with the U.S. Department of Labor (DOL) by March 1. MEWAs encompass arrangements providing benefits to employees from two or more employers, including association health plans. Note that a 60-day automatic extension can be requested.
Providing ACA Form 1095-C to Employees
For applicable large employers (ALEs), furnishing Form 1095-C to employees is imperative. The deadline for this task is March 1, 2024. Originally due by January 31, the IRS extended the deadline by 30 days. However, due to 2024 being a leap year, the deadline is shifted to March 1.
Providing ACA Form 1095-B to Employees
Non-ALEs with self-insured health plans must also adhere to ACA reporting requirements by providing Form 1095-B to employees by March 1, 2024. Like Form 1095-C, the deadline was extended by the IRS due to being a leap year.
Submitting Electronic Reports to OSHA
Ensuring workplace safety remains paramount, and this includes fulfilling OSHA reporting obligations. By March 2, 2024, establishments with 250 or more employees or 20-249 employees in certain high-hazard industries must submit OSHA Form 300A. Moreover, beginning in 2024, additional injury and illness information must be provided for employers with 100 or more employees in specific high-hazard industries.
Monitoring the Deadline for Filing the EEO-1 Report With the EEOC
Private sector employers with 100 or more employees and federal contractors with 50 or more employees meeting specific criteria must submit demographic workforce data to the Equal Employment Opportunity Commission (EEOC) annually as part of the EEO-1 data collection. While reports are generally due by March 31 each year, past delays by the EEOC indicate the importance of monitoring updates on the deadline, as seen in previous years.
Conclusion
Staying compliant with regulatory requirements is essential for businesses to uphold their obligations and ensure a safe and fair work environment. As we approach March 2024, keeping these key deadlines in mind can help companies navigate through their responsibilities efficiently. By staying informed and proactive, organizations can mitigate risks and focus on their core operations with confidence.
Every month we update you on the latest compliance and regulations regarding payroll, HR and tax filing so make sure to stay tuned for next month's article! If you have any questions about your payroll services or HR department don't hesitate to call a TPG Specialist at 909.466.7876 today!
Also, do you know how to Remit Your Payroll Taxes and Retirement Plan Contributions on Time ? And, What are Professional Employer Organizations? Read about these topics and more on our blogs/resources page!
