The Board of Governors of the Federal Reserve System maintains a list of federal banking holidays for the current year and the following four years. As 2020 approaches, you should take note of upcoming federal banking holidays and how they may impact your payroll processing schedule. Preparing now will help ensure your employees are paid on time throughout 2020.
If a holiday falls during your payroll processing period, you’ll want to move up the processing schedule. If your check date falls directly on a holiday, adjust your payday to the previous business day.
For more help, check out our table of holidays, payroll processing dates, and check dates. Our table is based on the following criteria:
- Your scheduled check date falls on a holiday (or the Friday after Thanksgiving)
- You would like to pay your employees the business day before
- You follow a two-day processing timeline
Visit the Federal Reserve website for future banking holiday dates or download our 2020 payroll calendar.
|Holiday||Date||Process Payroll||Check Date|
|New Year’s Day 2020||Wednesday, January 1, 2020||December 27, 2019||December 31, 2019|
|Birthday of Martin Luther King Jr.||Monday, January 20, 2020||January 15, 2020||January 17, 2020|
|Washington’s Birthday||Monday, February 17, 2020||February 12, 2020||February 14, 2020|
|Memorial Day||Monday, May 25, 2020||May 20, 2020||May 22, 2020|
|Independence Day||Saturday, July 4, 2020|
Observed Friday, July 3, 2020
|June 30, 2020||July 2, 2020|
|Labor Day||Monday, September 7, 2020||September 2, 2020||September 4, 2020|
|Columbus Day||Monday, October 12, 2020||October 7, 2020||October 9, 2020|
|Veterans Day||Wednesday, November 11, 2020||November 6, 2020||November 10, 2020|
|Thanksgiving Day||Thursday, November 26, 2020||November 23, 2020||November 25, 2020|
|The day after Thanksgiving is not a banking holiday but is likely a check date for many employers.||November 24, 2020||November 27, 2020|
|Christmas Day||Friday, December 25, 2020||December 22, 2020||December 24, 2020|
|New Year’s Day 2021||Friday, January 1, 2021||December 29, 2020||December 31, 2020|