March is a busy month for business owners. It’s the last month of Q1 and the middle of tax season, so it’s crucial to keep your compliance deadlines straight.
Good news: we’re here to help. Get a breakdown below of key tax, payroll, benefits, and HR dates you need to know about this coming month.
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Federal holidays
March 31, 2025
César Chávez Day
March 31 is César Chávez Day, a federal holiday that commemorates the life and work of civil rights and labor movement activist César Chávez.
Tax and payroll compliance deadlines
Payroll tax deposits (for semi-weekly depositors)
The Internal Revenue Service (IRS) requires employers who file Forms 940 and 941 to deposit payroll taxes at different frequencies throughout the year, depending on factors like the information returns they use and their past filing history.
If you report more than $50,000 in payroll taxes during the lookback period of July 1, 2023, to June 30, 2024, you’re considered a semi-weekly depositor and must follow the schedule below:
| If payday for your employees is on | Deposit employment taxes by |
| Wednesday | the following Wednesday |
| Thursday | the following Wednesday |
| Friday | the following Wednesday |
| Saturday | the following Friday |
| Sunday | the following Friday |
| Monday | the following Friday |
| Tuesday | the following Friday |
There’s one exception: if you accumulate $100,000 or more of tax liability in a single day, you must deposit the amount by the following business day, regardless of your normal deposit schedule
For more information, read Publication 15.
Remember: some state and local governments collect payroll taxes, and the deadlines for those may be different from the federal ones. For more information, contact your state and local tax agencies directly.
March 3, 2025
Form 1040 filing deadline
If you’re a calendar-year farmer or fisherman, you need to file your 2024 income tax return (Form 1040) and pay any tax due by March 3. However, if you paid your 2024 estimated tax payments by January 15, 2025, you have until April 15 to file.
If you operate on a fiscal tax year (starting after January 1), you can either pay all your estimated taxes by the 15th day after the end of your tax year or file your return and pay all the taxes you owe by the first day of the third month after the end of your tax year.
Read more about estimated taxes for farmers and fishermen here.
March 10, 2025
Employee tip reporting deadline for February
If your employees earn tips, they’re required to report to you any tips of $20 or more that they earned during the month of February 2025; the deadline to do this is March 10. Learn more about tip withholding and reporting requirements here.
March 17, 2025
Payroll tax deposits for monthly depositors
If you pay payroll tax on a monthly schedule (because you reported less than $50,000 in payroll taxes during the lookback period), your tax deposit for February payrolls is due on March 17.
S corp (Form 1120-S) and partnership (Form 1065) tax returns due
If you own an S corporation or if your LLC is taxed as an S corp, your 2024 calendar year income tax return is due March 17. You’ll use Form 1120-S to report your income, losses, and dividends as a shareholder of the company.
If you own a partnership or an LLC set up as a partnership, your income tax return is also due March 17. You’ll use Form 1065 to report your operation’s gains, losses, deductions, and credits. Keep in mind that each partner is responsible for paying their share of income from the business on their personal tax returns (Form 1040).
As the owner of an S corp or partnership, you also have to fill out and submit a Schedule K-1 or Schedule K-3, which breaks down each shareholder or partner’s percentage of profits and losses in the business. You must submit these forms to the IRS by March 17 unless you apply for an extension.
You can request an automatic six-month extension—which puts your new deadline at September 15, 2025—by submitting Form 7004 to the IRS by March 17. Keep in mind that if you file for the extension, you still have to pay your estimated taxes on time to avoid a penalty.
Forms 8804 and 8805 filing deadline for partnerships
Form 8804 is used to report the total liability for your partnership’s tax year. If your partnership operates on a calendar year, you have to file Form 8804 by March 17.
If one or more of your partners is international, you also have to file Form 8805 (one for each separate partner). This shows the amount of effectively connected taxable income (ECTI) and the total tax credit allocable to the international partner for the partnership’s tax year.
If you have questions, learn more about partnership tax forms here. For an automatic six-month extension on this form, make sure to file Form 7004.
Form 2553 filing deadline to elect S corp status
If you want to be taxed as an S corp for the calendar year 2025, you have to make an official election by filing Form 2553. You have to file the form no later than two months and 15 days after the beginning of the tax year when the election is to take effect; in this case, the deadline is March 17.
To learn more about filing Form 2553, read the IRS instructions here.
Forms 1042 and 1042-S due
Form 1042 is the annual withholding tax return for US-sourced income for foreign individuals. You’re required to file electronically if you’re a withholding agent who’s part of a financial institution or if you’re filing ten or more information returns. Otherwise, you can file a paper copy by March 17 to the following address:
Internal Revenue Service
P.O. Box 409101
Ogden, UT 84409
If you need more time to file Form 1042, you can file for an automatic six-month extension using Form 7004.
Form 1042-S reports retirement plan distributions and certain other payments made to nonresident aliens who are subject to income tax withholding. As a withholding agent, you have to file this form by March 17 and can do it electronically through the FIRE system. You also have to furnish a copy to the income recipient. If you need an automatic 30-day extension to file Form 1042-S, file Form 8809 by March 17.
March 31, 2025
Quarter 1 of 2025 ends
The first quarter of the year ends at the end of the month for those who operate on a calendar year.
Electronic filing deadline for Forms 1097, 1098, 1099, 3921, 3922, and W-2G
If you didn’t already file these forms via mail in February, the electronic filing deadline for Forms 1098, 1098, 1099, 3921, 3922, and W-2G is March 31. Here’s a refresher on the forms:
- Use Form 1097 to report certain tax credit bonds
- Use Form 1098 to report mortgage interest of $600 or more that you received from an individual in the course of business
- Use Form 1099-MISC to report certain kinds of reportable payments that were paid last year, including rent, royalties, awards, and prizes
- Use Form 3921 to report when someone exercises an incentive stock option
- Use Form 3922 to report the transfer of stock acquired through an employee stock purchase plan
- Use Form W-2G to report certain gambling winnings
Electronic filing deadline for Form 8027
If you run a large food or beverage establishment and didn’t file Form 8027 via mail by February 28, you need to file electronically by March 31 to report employee tips and your receipts from food and beverages.
Form 730 filing deadline for February wagers
You have to file Form 730, the monthly tax return for wagers, if you meet the following criteria and you accepted wagers during February 2025:
- are in the business of accepting wagers
- conduct a wagering pool or lottery
- are required to be registered and received wagers for or on behalf of another person but did not report that person’s name and address
Learn more about Form 730 here.
Form 2290 filing deadline for February
If you’ve registered a heavy highway motor vehicle (with a taxable gross weight of 55,000 pounds or more) that was first used in February 2025, you have to file Form 2290 by March 31.
To learn more about Form 2290, review the IRS’ instructions and information.
HR compliance deadlines
March 1, 2025
MEWA M-1 filing deadline
Multiple Employer Welfare Arrangement (MEWA) is a group health insurance plan that gives coverage to the employees of two or more employers. If you have MEWA or any other employee welfare benefit plan, you have to file an annual report to the Department of Labor (DOL) using Form M-1. This report is due by March 1 (it’s a weekend day, so plan ahead).
You can see filing instructions from the DOL here.
HIPAA breach notification deadline for incidents with fewer than 500 people
According to the HIPAA Breach Notification rule, HIPAA-covered entities are required to notify affected individuals if they experience a breach of unsecured protected health information and report the event to the Office for Civil Rights (OCR).
Breaches that took place in 2024 and affected fewer than 500 people must be reported to those people and the OCR within 60 days of the end of the year when the breach took place. That makes the deadline March 1 (it falls on a weekend this year, so plan ahead).
Submit these notifications to the Secretary of the Department of Health and Human Services (HHS) on the HHS website.
Deadline for creditable coverage disclosure (for calendar year plans)
The Medicare Modernization Act mandates that businesses with Medicare Part D-eligible employees and offer group healthcare plans with prescription drug coverage must disclose to the Centers for Medicare & Medicaid Services (CMS) the creditable coverage status of their prescription drug plans.
If this applies to you and you’re on a calendar year plan, you must submit this information online through the Disclosure to CMS form by March 1 (or within 60 days of the start of the plan year for a non-calendar year plan). March 1 falls on a weekend this year, so make sure to account for that.
For more information, including comprehensive instructions and screenshots, see the CMS guide.
March 2, 2025
OSHA e-filing deadline
The Occupational Safety and Health Administration (OSHA) requires most companies with 10 or more full-time employees to keep an annual record of all reportable workplace injuries and illnesses, the time and place they occurred, and other relevant details using Form 300A.
If you employ 250 or more employees in an industry covered by the record keeping regulation (or if you employ between 20 and 249 employees in certain high-risk industries), you have to file Form 300A electronically using the OSHA e-file website by March 2.
Keep in mind that March 2 falls on a Sunday this year, so do your best to file ahead of time.
March 3, 2025
Deadline for furnishing Forms 1095-C and 1095-B to employees
If you have 50 or more full-time equivalent employees, you’re considered an applicable large employer (ALE), which means you have to furnish Form 1095-C to all your employees eligible for health insurance coverage by March 3. The form explains the health benefits you offer and goes over your employees’ enrollment status.
If you’re self-insured and not considered an ALE, you must provide Form 1095-B (along with Form 1094-B) to any employees identified as “responsible individuals” on the coverage form. This form includes information about the health benefits you offer and your employee’s enrollment status.
To learn more about filing Forms 1095-C and 1095-B, check out the IRS instructions here.
March 17, 2025
Deadline for distributing ADP/ACP refunds
If you corrected your retirement plan as a result of any Actual Deferral Percentage (ADP) or Actual Contribution Percentage (ACP) testing failures, you need to distribute your ADP/ACP refunds by March 17. This is the last day to distribute refunds without incurring a 10% excise tax.
Deadline for employer contributions to S corp or partnership retirement plan trust
If you operate on a calendar year and want to contribute to your S corp or partnership’s retirement plan trust, you have until March 17 to do so. This is the last day you can contribute and take deductions without requesting a corporate tax extension.
Learn more about the IRS’ retirement plan contribution rules.
Deadline to apply for a waiver for minimum funding standards for defined benefit plans
Defined benefit plans are subject to minimum funding standards imposed by the IRS. If you need to apply for a waiver of the minimum funding standard for your defined benefit or money purchase pension plan, you need to do so by the 15th day of the third month after the end of the plan year.
In this case, that deadline is March 17. You can learn more about minimum funding standards here.
March 31, 2025
Electronic filing deadline for Forms 1094-C, 1095-C, 1094-B, and 1095-B
If you’re an ALE and didn’t file Form 1095-C to the IRS via mail in February, you need to file electronically by March 31. You’ll also need to turn in a cover sheet to the IRS, along with your returns, in the form of Form 1094-C (for 1095-C forms).
All other providers of minimum essential coverage need to file Form 1095-B (along with Form 1094-B) with the IRS electronically.
Electronic filing deadline for Form 1099-R
Form 1099-R reports distributions from pensions, annuities, and retirement plans made in 2024. If you didn’t file a paper copy of Form 1099-R in February, the due date to file electronically is March 31.
See the form’s instructions here.
Deadline for summary plan description
The Employee Retirement Income Security Act (ERISA) requires employers to provide employees with a simplified version of their benefits plan, called a summary plan description (SPD). The SPD covers an employee’s rights, benefits, and responsibilities under the plan.
You must distribute the SPD to your plan participants within 90 days of the adoption of a new plan. If you follow a calendar year plan, March 31 is your deadline.
