Keep P/R how long?

njjel

How long must a company keep their payrolls records on file before destroying them? I have heard it is seven years. Is this correct?

Rockie

In South Carolina, the Wage and Hour Division of the DOL can only go back three years.

njjel

We are in New Jersey and are there any federal requirements for the retention of payroll records and if so what are they?

Geno

njjel,

A search of the HRHero sight reveals the following three (3) year federal recommendation for payroll records.

[url]http://www.hrhero.com/hl/052104-tip-files.shtml[/url]

Some CPA's and payroll professionals will also tell you seven (7) years.

Geno

Don D

For employers with 20 or more employees, Age Discrimination in Employment Act of 1967, 29USC s/s 621 et seq., requires three years retention of payroll or other records containing each employee's name, address, date of birth, rate of pay and compensation per week, kept safe and accessible at place of employment or at a central record keeping office or if in storage, within 72 hours of request for information.

allison13

>How long must a company keep their payrolls
>records on file before destroying them? I have
>heard it is seven years. Is this correct?


NJJEL; The state public records retention schedule is 7 years...if your private it's 3