Payroll Record Keeping: Who Requires What, for How Long and in What Format

This training program will focus on the retention requirements of payroll records for the Fair Labor Standards Act, the Internal Revenue Code, and Child Support Enforcement. It will detail record keeping requirements and formats as well as review data security requirements.

Why Should You Attend:

Payroll departments receive and submit hundreds of thousands of bits of data each and every year. Employee master file data such as name and social security number, employee forms such the Form W-4, reports to the IRS such as Form 941, state unemployment insurance quarterly returns, termination dates for employees and even child support withholding orders. But the one 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”? This webinar will address this question and provide participants with the answers needed.

It will focus on the details at the federal level for regulations and laws including the Fair Labor Standards Act, the Internal Revenue Code, and Child Support Enforcement. The course will:

• Discuss how long records must be kept and in what format.
• Review the records needed when a merger or acquisition has taken place and whether or not Sarbanes-Oxley is still relevant when it comes to record keeping.
• Review best practices for data security and ensure that the data retained is safe and accessible.

Areas Covered in the Webinar:

• The importance of record keeping in a payroll department
• Regulatory agencies with payroll record keeping requirements including:
• Department of Labor
• IRS
• Child Support
• Others
• Details of exactly what data needs to be saved and in what format
• Does Sarbanes-Oxley still matter in 2015 for record keeping?
• Mergers, acquisitions and how it affects payroll record keeping
• Keeping the data secure to remain in compliance

Who Will Benefit:

• Payroll Professionals
• Human Resources Professionals
• Accounting Personnel
• Business Owners
• Lawmakers
• Attorneys, or any individual or entity that must deal with the complexities and technicalities within the payroll process