Payroll Record Retention

Payroll is one thing that all businesses have in common.  Along with processing payroll comes many different payroll records required to process the payroll.  Each type of record has different requirements of how long you must retain those records. 

Payroll departments receive and submit hundreds of thousands of bits of data every year. Employee master file data such as name and social security number, employee forms such the Form W-4, report to the IRS such as Form 941, state unemployment insurance quarterly returns, termination dates for employees, and even child support withholding orders.

A critical question that every payroll professional must ask and more importantly answer is “What am I required to keep, in what format, and for how long”?  The time over which payroll records must be retained will depend upon government requirements.

The Internal Revenue Service typically states a required retention period in each document it issues dealing with payroll issues. In general, wage calculations should be retained for two years, while collective bargaining agreements should be retained for three years.

Webinar Objectives

Our expert speaker will go over the different types of documents that are considered payroll documents that must be maintained for a specific amount of time.  Some forms you might not consider as payroll documents actually are.

Many States have different rules than the Federal regulations regarding these documents.  I will touch on a few of these States and give guidance on how to find out more information about their regulations.

Each different type of document will be discussed in regard to how long you are required to keep the documents.  This will include timesheets, payroll changes, additions/deductions from Wages, State taxes and many more.

Webinar Agenda

• Types of Payroll Documents
• Retention of Documents
• Specific State Laws

Webinar Highlights

• To discuss the types of payroll records that must be retained.
• To analyze the requirements for each type of payroll record.
• To inspect for how long payroll records must be kept.
• To different State requirements for record retention.
• To discuss information and guidelines by specific states with different requirements.

Who Should Attend

Payroll Professionals, Small Business Owners, Bookkeepers, Managers, Tax Professionals