Termination Checklist

Please select the action items required for a termination of employment in your organization to create a customized checklist.

Benefits

ItemAction to be takenSelect
BenefitsReconcile taxable benefits and process any necessary adjustments on final pay
Reconcile employee-paid benefits deductions and process any adjustments on final pay
Cancel or continue until___/___/___(Date) as per termination letter (Under the Ontario Employment Standards Act, employees must retain all benefits until the end of the legislated notice period.)
Advise of possible transitional benefits offered by insurance provider
Life InsuranceAdvise employee of conversion option and deadline
Pension Plan/Group RRSPNotify pension department/administrator
Provincial medical forms (BC)Group consideration
Profit Sharing/BonusCalculate percentage owing per terms of plan
SharesRefer to company policy
Stock optionsRefer to company policy
Car allowanceCease/pro-rate
Company gas cardReturned to ___________________(Name) on ___/___/___(Date)
Reconcile for possible taxable benefits
Employer-owned/leased vehicleObtain logbook and calculate automobile taxable benefit from personal kilometres reported
Use Fair Market Value to determine potential taxable benefit if sold to employee
Service AwardEmployee still eligible
If employee no longer eligible, cancel order
Company loanRepaid to ___________________(Name) on ___/___/___(Date)
Outstanding balance/interest processed as taxable benefit
Tuition/ training reimbursementsVerify with company policy/employee contract for repayments upon termination
Sign-on bonusVerify with company policy/employee contract for repayments upon termination
Other