All businesses have payroll in common. Along with processing payroll, many different payroll records are required. Each record type has different requirements for how long they must be retained.

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

Special record retention concerns, such as handling records during a merger or acquisition, will be reviewed. Legislative updates and common errors employers make that can cost your company money regarding record retention policies will be reviewed.  

Learning Objectives:-

• Discuss record retention requirements by agency IRS, DOL, etc.
• Review record retention policies & procedures & the cost of a poor policy.
• Explain how to handle and be prepared for audits.
• Elaborate on Form I-9 Record retention concerns.
• Analyze Sarbanes-Oxley, Mergers & Acquisitions, and how they affect your record policy.

Major Topics Covered:-

• Record retention requirements by agency IRS, DOL, etc.
• Record retention policies & procedures & the cost of a poor policy.
• How to be prepared for audits and handle it. 
• Form I-9 Record retention concerns.
• Sarbanes-Oxley, Mergers & Acquisitions, and how they affect your record policy.

Who Will Benefit:-

• Payroll Professionals
• Human Resources Personnel
• Finance and Accounting Staff
• Compliance Officers
• Business Owners
• Internal Auditors
• Legal and Risk Management Teams
• HRIS Managers
• Operations Managers.