Payroll & Tax Record Retention Guidelines
| Employee Record | ERISA | FLSA, EPA | FMLA | ADEA | Title VII, ADA | Tax Laws |
| Daily & Weekly work hours | 3 yrs from last entry | 3 yrs from last entry | 1 yr after record created | 4 yrs after tax due or paid | ||
| Regular pay rate/basis/exclusions | 3 yrs from last entry | 3 yrs from last entry | 3 yrs from last entry | 1 yr after tax due or paid | ||
| Dates, amounts of total compensation/wages paid per period | 3 yrs after payment | 3 yrs after payment | 3 yrs from payment | 1 yr after record created | ||
| Straight-time, overtime earnings per day/week | 3 yrs after payment | 3 yrs after payment | 3 yrs after payment | 1 yr after record created | 4 yrs after tax due or paid | |
| Deductions from / additions to pay | 2 yrs after payment | 3 yrs after payment | 1 yr after record created | 4 yrs after tax due or paid | ||
| Tip reporting statements | 3 yrs after payment | 3 yrs after payment | 1 yr after record created | |||
| Pension, annuity payments | While relevant | 3 yrs after payment | 3 yrs after payment | 1 yr after record created | 4 yrs after tax due or paid | |
| Accident / health plan payments | While relevant | 3 yrs after payment | 3 yrs after payment | 1 yr after record created | ||
| Fringe benefit payments | While relevant | 3 yrs after payment | 3 yrs after payment | 1 yr after record created | ||
| Wage rate tables | 2 yrs from last entry | 1 yr after record created | ||||
| Work schedules, time cards, units produced | 2 yrs from last entry | 3 yrs from last entry | 1 yr after record created | |||
| Job descriptions | 2 yrs after created | 1 yr after record created | ||||
| Merit/senior systems | 2 yrs after created | 1yr after system discontinued | 1 yr after record created | |||
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Individual contracts & collective bargaining agreements |
3 yrs from last entry | 1 yr after record created | ||||
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Withholding agreements, & dates/amount of w/h for specific taxes |
3 yrs after created | 3 yrs after created | 1 yr after record created | |||
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Amount of pay subject to specific taxes |
4 yrs after tax due or paid | |||||
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Explanations of discrepancies between total pay and taxable pay |
4 yrs after tax due or paid | |||||
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Explanation of pay differentials between sexes for employees performing same jobs |
2 yrs after created | |||||
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Data used to calculate experience ratings for FUTA & amounts paid to state unemployment funds |
4 yrs after tax due or paid | |||||
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Tax returns, schedules, statements and forms |
4 yrs after tax due or paid |
ERISA: Employee Retirement Income Security Act
FLSA, EPA: Fair Labor Standards Act, Equal Pay Act
FMLA: Family & Medical Leave Act
ADEA: Age Discrimination in Employment Act
IRCA: Immigration Reform & Control Act
Title VII, ADA: Civil Rights Act, Americans with Disabilities Act
Source: Bradley University, Foster College for Business Administration
Availability, Inc. is a leader in professional office staffing in the Greater St. Louis Area. Our staff stays current on state and federal employment laws and issues through continuing education, employment law courses and membership in the American Staffing Association. Our clients rely on us to help them stay up-to-date on changing federal and state employment laws. This list offers guidance on how long to retain records by law. Other requirements may apply to your business – be sure to check all applicable federal, state and local laws, and consult with legal counsel and your accountant for tax and other regulations.
