Prepare Now for Critical November 2023 Compliance Deadlines

26 of October, 2023

Have you started prepping for the compliance deadlines coming down the pike this November? If not, now’s the time to start circling some important dates on your calendar.

As an HR leader, you know how quickly deadlines can sneak up on you. The last thing you want is to be scrambling at the last minute to submit required paperwork or update policies. Whether you oversee HR for a small local company or a large multinational corporation, November is going to be a busy month for compliance.

From the US to India, Canada to Australia, there are several key deadlines on the horizon that you need to be aware of. Make sure you’ve got the necessary documents in order and ready to submit.

The good news is you’ve still got time to prepare—but don’t delay any further. Get your team together now to review what needs to be done and map out a plan to tackle everything efficiently. Staying on top of compliance might not always be the most glamorous part of your job, but it’s absolutely critical. A few weeks of focused preparation now can save you a major headache come November.

Key November 2023 Compliance Deadlines in the US

As an HR leader, November is one of the busiest months for compliance. There are several key deadlines to be aware of, so start preparing now to avoid penalties or legal issues.

In the US, several requirements need attention:

• The final deadline for distributing W-2 and 1099 tax forms to employees and contractors is January 31, so make sure all employee data and income is accurately reported by mid-November.
• For applicable large employers, the deadline to distribute annual CHIP notice to employees is November 15. This notice informs employees of potential opportunities for premium assistance under Medicaid or the Children’s Health Insurance Program (CHIP).
• Medicare Part D Creditable Coverage disclosure notices must be provided to all members by November 15. This is for group health plans that provide prescription drug coverage to inform members whether the coverage is creditable.
• The annual deadline for required OSHA workplace injury and illness recordkeeping is November 1. All OSHA 300A summary forms must be completed, certified and posted.

Taking proactive steps to get compliant and stay on top of requirements is critical. Using a document management system can help compile, track and organize the necessary forms and notices to distribute on time. When done right, staying on the good side of compliance can save you from headaches in the long run. The key is starting early – like now.

Upcoming Compliance Requirements in November for India, Canada, and Australia

November is always a busy month for HR compliance, but 2023 brings some important deadlines you need to be aware of.

India

In India, companies must submit PF (Provident Fund) returns and payments for October by November 15th. The EPFO (Employees’ Provident Fund Organization) requires companies to register all eligible employees, deduct 12% of their pay as contributions, and remit both employer and employee shares each month.

Canada

If you have employees in Canada, November 1st is the deadline to provide them with T4 and RL-1 tax forms summarizing their income and deductions for the previous calendar year. The CRA (Canadian Revenue Agency) requires these slips to be issued by the end of February, but many companies provide them earlier to allow employees more time to file personal tax returns.

Australia

Australian companies must register eligible employees in the Superannuation Guarantee system and pay superannuation contributions for the July to September quarter by November 28th. The SG requires employers to contribute a minimum of 9.5% of an employee’s ordinary time earnings to a superannuation fund. Contributions must be made quarterly, and the ATO (Australian Taxation Office) can charge penalties for late or missed payments.

With multiple important deadlines across countries, using a document management system to keep track of requirements and ensure on-time compliance is key. Storing all reference materials, forms and payments documentation in one central place gives you visibility and control over this complex responsibility.

Streamlining Compliance With Robust Document Management

Companies should start preparing now for critical compliance deadlines coming up in November 2023. There are key documents and filings that will be due to businesses in the US, India, Canada and Australia. That’s why it is so important to have your documents in order to do so.

The clock is ticking, but with advance planning you’ve got this. Focus on what matters for your company and your employees. Get the necessary forms and policies in order, set reminders, and tackle compliance one deadline at a time.

Before you know it, November will be here and you’ll breeze through, confident in the knowledge that you’re set for the next year and beyond. The months ahead may seem daunting, but think of it as an opportunity to strengthen your processes and better support your people.

You’ve built an amazing organization – now make sure you’ve got the documentation and compliance to match. The year is winding down, but your hard work and diligence will pay off. Stay focused and keep your eye on the future. You’ve got this!