HR & Payroll Recordkeeping Compliance | IRS, FLSA & State Laws Explained

Overview:

Managing payroll and HR records has evolved from simply maintaining folders in a filing cabinet to navigating a complex web of regulatory expectations — with little room for error. In today’s highly scrutinized business environment, companies must comply with a wide range of recordkeeping requirements issued by federal agencies such as the IRS, DOL (FLSA), EEOC, and numerous state authorities. Each of these entities can request different types of records, sometimes going back several years — and noncompliance can result in costly penalties, failed audits, or reputational damage.

Fortunately, the shift to digital systems has made it easier to store and retrieve information — but that convenience also comes with new expectations. Many organizations still struggle to determine how long to keep specific records, in what format, and whether their electronic storage systems meet federal standards. Others are unsure how to handle requests for information, especially when dealing with multiple agencies with conflicting requirements.

This webinar cuts through the confusion by offering a clear, practical breakdown of the record retention obligations that apply to payroll and HR professionals. You'll learn the distinctions between IRS and FLSA requirements, how to satisfy multiple agencies with one documentation strategy, and what the best practices are for both paper and digital recordkeeping.

We’ll also cover what information must be included in your records, the pros and cons of different electronic archiving systems, and what to look for in IT tools that support audit-readiness. Most importantly, you'll walk away with actionable rules of thumb tailored to the type and size of your business — enabling you to build a compliant, cost-effective record management system that can stand up to scrutiny.

Whether you’re part of a large enterprise or a small business managing records manually, this session will equip you with the confidence to handle recordkeeping challenges and prepare proactively for agency inquiries.

Areas covered in the session:

• General Requirements
• IRS Guidance on Small Business Recordkeeping
• IRS access to electronic accounting records
• Requirements that satisfy IRS AND FLSA both
• Requirements for FLSA only
• Requirements for IRS only
• Other federal acts and their requirements
• State Requirements overview
• Summary of content by record type
• Information on electronic data storage and archiving
• Best practices on handling info requests

Learning Objectives:

• How long do I have to keep payroll and HR records?
• How do I manage paper storage? What are the risks?
• Is there an electronic solution that is acceptable to government agencies?
• Is there a prescribed format for records?
• What information must be contained in the records?
• What agencies other than the IRS demand access to payroll and HR records?
• How do I comply with record requests? From whom might I receive request?
• Are there simple rules of thumb that satisfy most requirements?
• Under what circumstances should I keep some records longer than others?

Attendees will receive practical, ready-to-use resources including:

• A Payroll & HR Record Retention Matrix outlining agency-specific timelines
• A Digital Archiving Checklist to assess recordkeeping systems for compliance
• An Information Request Log Template to track audit and inquiry requests

These tools are designed to support your ongoing compliance efforts and simplify day-to-day payroll documentation practices.

Why should you attend?

Understanding which HR and payroll records to retain — and for how long — is not optional in today’s regulatory climate. With oversight from agencies like the IRS, DOL, EEOC, and various state entities, even small missteps in documentation or retention periods can result in penalties, legal exposure, or failed audits. Many professionals are unsure which rules apply, especially when requirements overlap or differ by jurisdiction.

This webinar offers clarity. It breaks down complex legislative requirements into practical guidance that can be immediately applied, whether you’re using paper files or digital systems. You'll gain a deeper understanding of what data must be stored, how to organize it for quick access, and how to respond effectively to agency inquiries — without scrambling or second-guessing.

Whether you're building a retention policy for the first time or trying to modernize outdated practices, this session will help you create a compliant, audit-ready recordkeeping system.

Who will benefit?

This webinar is designed for professionals responsible for maintaining, managing, or auditing HR and payroll records in compliance with federal and state regulations — those include:

• HR Managers
• Payroll Managers
• HR Generalists
• Compliance Officers
• HR Assistants
• Records Management Specialists
• HRIS Analysts
• Office Managers
• Finance Managers
• Controllers
• Auditors
• HR Consultants
• Legal and Risk Professionals
• HR Administrators
• Operations Managers
• Business Owners