2020 Banking Holidays and Your Payroll

October 4, 2019|

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.

Download 2020 Payroll Calendar 

HolidayDateProcess PayrollCheck Date
New Year’s Day 2020Wednesday, January 1, 2020December 27, 2019December 31, 2019
Birthday of Martin Luther King Jr.Monday, January 20, 2020January 15, 2020January 17, 2020
Washington’s BirthdayMonday, February 17, 2020February 12, 2020February 14, 2020
Memorial DayMonday, May 25, 2020May 20, 2020May 22, 2020
Independence DaySaturday, July 4, 2020

Observed Friday, July 3, 2020

June 30, 2020July 2, 2020
Labor DayMonday, September 7, 2020September 2, 2020September 4, 2020
Columbus DayMonday, October 12, 2020October 7, 2020October 9, 2020
Veterans DayWednesday, November 11, 2020November 6, 2020November 10, 2020
Thanksgiving DayThursday, November 26, 2020November 23, 2020November 25, 2020
The day after Thanksgiving is not a banking holiday but is likely a check date for many employers.November 24, 2020November 27, 2020
Christmas DayFriday, December 25, 2020December 22, 2020December 24, 2020
New Year’s Day 2021Friday, January 1, 2021December 29, 2020December 31, 2020

 

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