Direct Deposit Forms
6497151
2 Posts
Do we need to keep the completed "Authorization Agreement for Direct Deposits" form for any length of time after the employee is no longer with the company? Do I file in their Employment File? Or can I just shred them?
I keep thinking it should be okay to shred only because if they ever came back, they would have to complete a new one anyway. The only purpose of this form is to be able to deposit their payroll checks. When they are no longer with the company it has no purpose. I feel 99% sure it would be okay, and then I panic thinking there could be some reason I am missing.
Can anyone help?
Comments
I would keep them for terminated employees for 2-3 years after they terminate or 2-3 years after their last paycheck was direct deposited. Why? Because that is the general standard on any payroll related documents that are used to backup pay actions/wage claims etc.