WASHINGTON (DC News Now) -- President-elect Donald Trump and Vice President-elect JD Vance were sworn into office on Monday, Jan. 20, the same day the nation is commemorating the life and legacy of Rev. Martin Luther King Jr. This year, Inauguration Day lands on Martin Luther King Jr. Day, which is observed each year on the third Monday of January, around King's birthday, Jan. 15. The commemoration became a federal holiday in 1983 after Ronald Reagan signed the King Holiday Bill into law, 15 years after legislation to honor King was first introduced, according to the National Museum of African American History and Culture. As a result of the holiday, people can expect to see some closures and changes in services. Mail, delivery services In observance of the federal holiday, the United States Postal Service will not make regular mail deliveries on Monday. Post offices will be closed; however, mail from Priority Mail Express will still be delivered. UPS will also be closed for the holiday, with no pickup or delivery service. However, UPS Express Critical service will be available. Several UPS store locations will also be closed, but customers can locate the specific hours for their local store here. FedEx will have modified service, yet its Freight, Office, Critical and Logistics branches will remain open. Banks The Federal Reserve is closed for the day, meaning most Banks will also be closed; however, online banking options will still be available. The New York Stock Exchange and the NASDAQ will have the day off. Where does the vice president live in DC? Schools D.C. Public Schools, along with public schools in Maryland and Virginia, are also closed to honor King's legacy. Government offices Government offices are also closed, as federal employees have the off. Retail, grocery stores Most grocery stores, chain restaurants, and major retailers will remain open. However, hours at individual stores may vary. The Alcoholic Beverage and Cannabis Administration (ABCA) has permitted several establishments across D.C. to offer extended hours to serve alcohol from Jan. 14 through Jan. 21, overlapping with Martin Luther King Jr. Day and the inauguration. For a complete list, click here.