Prepare for 2021 year-end with important tasks and deadlines
Year-end is fast approaching, and it’s time to start planning for the successful wrap-up of 2021 payroll.
There are a few key changes to this year’s calendar, including MN113021 pull deadline is 11/24/21, and the first biweekly payroll in 2022, BW122521, uploads due 1/4/22, which will process the same day. Please review all deadlines carefully for a successful year-end transition.
|2021 Year-end payroll deadlines|
|11/19/21||BW111321 Uploads due 5 p.m.|
|11/22/21||Process BW111321 with a check date of 11/26/21.
Review BW111321 Payroll Register
|11/23/21||BW111321 pull deadline is 10 a.m.
OC111821 uploads due 5 p.m.
|11/24/21||Process OC111821 with a check date of 11/26/21
MN113021 pull deadline is 10 a.m.
|11/26/21||Employee Services will be closed.|
|12/20/21||Deadline to submit imputed cash trasnactions including 2021 moving expenses from PO/PO-Card and Reimbursements
MN123121 uploads due 5 p.m.
|12/22/21||BW121121 pull deadline is 10 a.m.|
|12/27/21 - 1/3/22||Employee Services will be minimally staffed. This may result in delays responding to emails, calls, and tickets.|
|12/28/21||OC122321 upload deadline is 5 p.m. This is the FINAL 2021 OC|
|12/29/21||Process OC122321 with a check date of 12/31/21
MN123121 Pull deadline is 10 a.m.
|12/31/21||MON PPE 12/31/21 Payday|
|NO OC WEEK OF 1/3/2022
Any hand drawn warrants must be approved by ES Payroll. Requests will be reviewed and processed on a case-by-case basis as time and system availability allow.
|1/4/22||BW122521 uploads due 9 a.m.
Review BW122521 Payroll Register
|1/5/22||BW pull deadline is 10 a.m.|
|1/11/22||OC010622 uploads due for first OC in 2022.|
|1/14/22||Process BW010622 inlcudin the 2022 minimum wage updates.|
|2/15/22||W-4 exempt status expires
Must enter new exemption to continue
If not updated by this deadline W-4 status will default to single
Departments should complete the following payroll year-end processes on time during November and December to ensure paychecks will process on time and correctly.
Keep these tasks on hand the next few months to stay on track during this busy time of year.
- Process overpayments on time to allow the employee to repay the overpayment before Dec.31. Taxes will be added to the overpayment amount if payment is not received in 2021 which could cause a hardship.
- Ensure Moving expenses are entered into CU Time.
- Review payroll registers immediately after the December payroll is complete.
- Process any necessary pulls to prevent overpayments from crossing tax years.
- Verify Social Security numbers have been entered into employee records.
- Verify SSN for int’l/new employees. Enter imputed cash transactions.
- Review your campus Holiday Schedules.
- Review Payroll Calendars.
- Review the first paychecks for accuracy.
- Hire Spring Appointments before their first check. Terminate Fall Appointments and Contracts, if needed.
- Remind employees claiming exempt status on their W-4 that it will expire February 15, 2022 (To maintain their exemption, they will need to enter a new W-4 in the employee portal before the expiration date).
- W-2s will be mailed by the end of January
- January Minimum Wage rates apply*
*2022 – Colorado minimum wage increases to $12.56 ($12.32 in 2021), and Denver minimum wage increases to $15.87 ($14.77 in 2021)
- ES pulls and uploads the minimum wage rate for each hourly employee below the threshold for the applicable state
- Effective date: 12/26/21 (BW010822)
- Utilize Query CUES_HCM_MINIMUM_WAGE_STATE to obtain information for other states