It’s not only important, it’s the law.
Year end is upon us yet again, and a major issue for today’s business is availability of past year’s information. Asure is offering payroll record retention services to our clients. We offer this service to you as an optional benefit. This service can save you time, money, and all the worries of lost or misplaced payroll information. Federal and state law requires that you maintain complete payroll and employee information; the regulations differ by agency and state. There are costly fines associated with the failure to retain these records. For example, the Internal Revenue Service may request that a company reproduce 941 tax returns for 2018 as late as 2023 and only allow 72 hours to produce it! Complete payroll records can protect your company from costly lawsuits, tax assessments, and insurance adjustments. Asure can store all your payroll history for the year 2023 for the next 12 months and reproduce it in detail upon request.
Please Note: If you decline this service and in the future request this information from Asure, the cost will be $175.00 per year requested and $9.00 per report requested. Asure will not guarantee that your history will still be on file unless you choose the record retention service.
To decline the record retention service, an authorized contact must complete the form below.