Payroll Records: What To Keep, What To Toss


August 18, 2017


Dayna J Reum

  1:00 PM ET | 12:00 PM CT | 10:00 AM PT | 60 Minutes

This program has been approved for 1.0 PDCs toward SHRM certification hours.
The program is pre-approved for 1 credit hour under HRCI


The Payroll Department creates thousands of records each year. Unfortunately, there are many agencies and a multitude of rules, regulations, and paperwork requirements to comply with. And to make matters worse, different agencies have different requirements for different records - and employers must not only comply with all of them, but keep accurate records!

With all those records around, it's tempting to have a big clean-out day. But if you destroy the wrong document, you could be destroying your career. This webinar will give the rules and regulations in regards to record retention for payroll. We will also review how to set up a good records retention policy that will keep your company compliant but also not to keep too much that can cause large cost of storage or issues if records are ever requested.

Learning Objectives:

This training session covers the rules for identifying, filing, retaining, protecting, and destroying your important payroll records. By attending, you and your team will learn:

  • Which records must you keep - and for how long?
  • Recommended record retention processes
  • Do record retention rules vary by state, and if so, how?
  • How electronic retention rules differ from paper standards
  • How to know when it's safe to scan a document and dump the paper original
  • How and where to keep W2s, 1099s, payroll tax deposits, quarterly payroll tax returns, yearly summary reports to government agencies, and other year-end forms
  • How to handle special forms such as local tax forms, prevailing wage reports, government contract requirements, etc.
  • Electronic I-9s: How to comply with the strict new federal rules on completing, signing and retaining
  • The four steps you must include in your electronic I-9 program
  • How does the Lilly Ledbetter Fair Pay Act change the retention requirements for your payroll records?
  • Must payroll records be kept separate from HR records?
  • How to destroy records
Highlight Points:

  • Payroll Record Keeping Requirements by agency
    • IRS-Internal Revenue Service
    • DOL-Department of Labor
  • Keys to good record retention polices & procedures
  • Consequences of poor record retention polices
  • How to handle and be prepared for audits
  • Special Retention Concerns
    • Form I-9
    • Sarbanes-Oxley
    • Mergers & Acquisitions
  • State Retention Requirements
Who will Benefit:

  • Executives
  • HR professionals
  • Supervisors and managers
  • Business owners

Download Conference Material

Download Here (Password Needed)