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ITEM NUMBER
1. Wage and Tax Statements
These records include, but are not limited, to copies of the W-2 prepared for each University employee, showing all state and federal taxes withheld; 1099R showing all annuity, pension, and retired employee payments; 1042-S reporting income paid and taxes withheld for nonresident aliens; 1098-E showing interest received by the University from student loans; 1098-T showing student tuition information for the Hope and Lifetime Learning Credit. These records include all supporting documentation, such as Payroll financial controls, which include control totals by pay cycles and Cashier reports.
Authorized Retention:
Retain for five (5) years, then destroy.
2. Returned W2's
These are W2s that have been returned to the University because of an incorrect address.
Authorized Retention:
Retain for four (4) years, then destroy.
3. Payroll History Files
These records are the earnings records for each employee, which show gross earnings and various payroll deduction detail.
Authorized Retention:
Electronic: Retain Permanently.
NOTE: In order to ensure the electronic file is accessible, all data must be migrated as hardware and software technology is upgraded.
Microfilm: Retain Permanently.
4. Payroll Checks
These records include both payroll checks issued to employees and payroll checks that were cut, but not given to the employee because the employee was not entitled to the check.
Authorized Retention:
Retain for five (5) years, then destroy.
5. Writs of Sequestration
These records consist of garnishment documents served on the University. They include both the short-term standard garnishment writs and the student loan continuous writs.
Authorized Retention:
Standard – Retain for five (5) years after the return (end) date of the garnishment, then destroy.
Student Loan – Retain for five (5) years after the cancellation or order to stop withholding has been received, then destroy.
This authorization supersedes authorizations: 71-13 item 2, 71-23 and 80-03.
Reviewed 2019-08-05