Remember to run payroll before these holidays!
We wanted to remind you that Monday, December 25th, 2023, and the following Monday, January 1, 2024, are both federal banking holidays. Depending on your payroll schedule, this may mean you need to run payroll one or two business days early to get everyone paid on time.
We've included schedules for different turnaround times below. If you have any questions at all, feel free to contact us at 877-328-6505 or hello@onpay.com.
Holiday payroll schedules
How early you need to submit payroll depends on your payroll turnaround time. If the holiday falls between any of the four stages in the table below, it can interfere with your workers getting paid on-time.
| Pay Date | Submit Date* | Employer Draft Date | Employee Credit Date |
|
Pay dates affected by this holiday are listed in this column. Check for dates that coincide with employee payday(s). |
Submit payroll by 11:30 PM* on this date. **Running payroll on a bank holiday will not affect the employee payday. |
Payroll funds will be debited from your account on this date. This is typically the first business day following the submit date. |
Employees will see the funds in their account on this date. If the pay date falls on the holiday, then the employee credit date is always the business day before. |
Learn more about how turnaround time is determined.
Select the turnaround time below to find your desired Pay Date. To the right of this date will be your submit date, or pay run deadline. Note that if the pay date falls on the holiday, then the employee credit date is always the day before.
2-Day Turnaround
| Pay Date | Submit Date* | Employer Draft Date | Employee Credit Date |
| Friday 12/29 | Wednesday 12/27* | Thursday 12/28 | Friday 12/29 |
| Monday 1/1 | Wednesday 12/27* | Thursday 12/28 | Friday 12/29 |
| Tuesday 1/2 |
Thursday 12/28* |
Friday 12/29 | Tuesday 1/2 |
| Wednesday 1/3 | Monday 1/1** | Tuesday 1/2 | Wednesday 1/3 |
*OnPay’s Banking cut-off is 11:30 PM ET. Any payrolls processed after 11:30 PM ET are considered to be submitted on the next business day.
**Submit Date can be on the holiday, before 11:30 PM ET, without affecting the payroll turnaround time. Any payrolls processed after 11:30 PM ET are considered to be submitted on the next business day.
4-Day Turnaround
| Pay Date | Submit Date* | Employer Draft Date | Employee Credit Date |
| Friday 12/29 | Monday 12/25** | Tuesday 12/26 | Friday 12/29 |
| Monday 1/1 | Monday 12/25** | Tuesday 12/26 | Friday 12/29 |
| Tuesday 1/2 | Tuesday 12/26* | Wednesday 12/27 | Tuesday 1/2 |
| Wednesday 1/3 | Wednesday 12/27* | Thursday 12/28 | Wednesday 1/3 |
| Thursday 1/4 | Thursday 12/28* | Friday 12/29 | Thursday 1/4 |
| Friday 1/5 | Monday 1/1** | Tuesday 1/2 | Friday 1/5 |
*OnPay’s Banking cut-off is 11:30 PM ET. Any payrolls processed after 11:30 PM ET are considered to be submitted on the next business day.
**Submit Date can be on a federal holiday (before 11:30 PM ET) without affecting the payroll turnaround time. Any payrolls processed after 11:30 PM ET are considered to be submitted on the next business day.
December 25th is also an observed holiday. See Christmas Day holiday pay run schedules→
5-Day Turnaround
| Pay Date | Submit Date* | Employer Draft Date | Employee Credit Date |
| Friday 12/29 | Thursday 12/21* | Friday 12/22 | Friday 12/29 |
| Monday 1/1 | Friday 12/21* | Monday 12/22 | Friday 12/29 |
| Tuesday 1/2 | Monday 12/25*** | Tuesday 12/26 | Tuesday 1/2 |
| Wednesday 1/3 | Tuesday 12/26* | Wednesday 12/27 | Wednesday 1/3 |
| Thursday 1/4 | Wednesday 12/27* | Thursday 12/28 | Thursday 1/4 |
| Friday 1/5 | Thursday 12/28* | Friday 12/29 | Friday 1/5 |
| Monday 1/8 | Monday 1/1** | Tuesday 1/2 | Monday 1/8 |
*OnPay’s Banking cut-off is 11:30 PM ET. Any payrolls processed after 11:30 PM ET are considered to be submitted on the next business day.
**Submit Date can be on a holiday, before 11:30 PM ET. Any payrolls processed after 11:30 PM ET are considered to be submitted on the next business day.
***December 26th is also an observed holiday. See New Year's holiday pay run schedules→
Please keep in mind, OnPay schedules the direct deposit date based on information entered when running payroll and your turnaround time within OnPay. At the "Approve Payroll" step of the pay run, the direct deposit effective date may differ from the examples outlined above. If this occurs or if you have any questions about processing your payroll around this holiday, please contact us at 877-328-6505 or hello@onpay.com.
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