Payroll Record Retention Requirements: Maintaining Compliant, Accurate Records
Knowing which payroll records to keep and which to destroy is always a challenge for employers.
Between federal rules and state laws, staying compliant isn’t easy. And complicating matters further, maintaining too many old records can drive up the cost of storage – but not storing the records you need can land you in hot water.
Maintaining organized, airtight financial records starts with a thorough understanding of the payroll record retention laws that apply to your organization - and we’re here to help.
Join this live training for a thorough review of payroll record retention requirements and to learn exactly how to stay compliant at your organization.
Bonus: we’ll also discuss the impact that the COVID-19 pandemic should have on your records retention policies.
In this session, you’ll learn:
- How to establish an airtight, compliant payroll records retention policy
- Tips to prepare your organization for an audit
- Benefits of electronic recordkeeping – and how to make it work for your organization
- COVID-19's impact on record retention
- And more!
Payroll record retention can be complicated, but with a few best practices, you can ensure that you’re maintaining accurate records and protecting your organization. This session will give you a thorough overview of record retention laws and help you prepare organized, audit-proof records.
Top tips for total payroll record retention compliance
- Payroll record keeping requirements by agency – including IRS and DOL
- Keys to good record retention polices & procedures
- Consequences of poor record retention polices
- How to handle special retention concerns for employers, including Form I-9 and changing requirements during mergers and acquisitions
Ensure your organization is up-to-date on the latest record retention policy changes
- A review of state retention requirements – and how to stay compliant
- COVID-19's impact on record retention rules
- How to map your internal processes to changing and complex retention laws
Establish an internal process that serves and protects the organization
- Write a detailed, actionable record retention policy
- Understand the importance of both keeping documents and destroying them timely
- Prepare your organization for audits with processes for record retrieval
- Properly handle documentation of the correction
About the Speaker
Vicki M. Lambert, CPP, is President and Academic Director of The Payroll Advisor with over 35 years of hands-on experience in all facets of payroll functions. Ms. Lambert has become the most sought-after and respected voice in the practice and management of payroll issues. She has conducted open market training seminars on payroll issues across the United States that have been attended by executives and professionals from some of the most prestigious firms in business today.
If you'd like this program customized for your organization, call us at 1-800-964-6033. We're certain we can fulfill your training needs, while making it fit in your budget!
This program has been approved for 1 (HR (General)) recertification credit hour toward aPHRTM, aPHRiTM, PHR®, PHRca®, SPHR®, GPHR®, PHRiTM and SPHRiTM recertification through the HR Certification Institute. Learn more at hrci.org