Handling Unclaimed or Abandoned Wages

Tuesday, July 18, 2017 at 2pm ET           Duration: 90 minutes

Abandoned wages, abandoned property, escheat…the process may have many names but only one real requirement. All employers must identify and report unclaimed wages to the proper state, at the proper time, in the proper manner using the proper method. No ifs, ands or buts.

The trouble is that many employers are simply not aware of this requirement. And a state or federal Department of Labor won’t accept lack of awareness as an excuse. They’ll still hit you with huge fines and penalties for failing to report unclaimed wages. Plus, you could be audited at any time, even if you’ve gotten away with noncompliance in the past. (more details below)


WHY ATTEND

Failure to comply could result in assessments, interest accumulations, and criminal penalties. The ramifications may not even be limited to one state. For instance, organizations with corporate headquarters in one state and employees in other states could be liable for penalties in all states that they have employees. Recently, many states have moved towards unclaimed wages as a source of revenue that can be easily tapped with existing laws and a crackdown on enforcement.

The only way to avoid these huge penalties, fines and interest is for the payroll department to correctly identify all unclaimed wages, and report and remit them each year to the proper authorities.

LEARNING OBJECTIVES

Areas covered in the webinar: 

  • When are wages considered abandoned
  • What laws or regulations cover unclaimed wages
  • What is payroll’s responsibility relating to abandoned wages
  • What processes to take to correctly report and remit unclaimed wages
  • Liability issues—what do you do if you have an outside payroll service
  • How to establish proper procedures for tracking unclaimed wages correspondence to comply with due diligence requirements
  • How to safeguard unclaimed wages from unauthorized and improper release
  • The importance of written procedures
  • Steps to surviving an audit

Who will benefit from this session:

  • Payroll Professionals
  • Human Resources
  • Accounting Personnel
  • Business Owners
  • Lawmakers
  • Attorneys, or any individual or entity that must deal with the complexities and technicalities within the payroll process

ABOUT THE SPEAKER

Vicki M. Lambert, CPP, is President and Academic Director of The Payroll Advisor™, a firm specializing in payroll education and training. The company’s website www.thepayrolladvisor.com offers a payroll news service which keeps payroll professionals up-to-date on the latest rules and regulations.

With over 35 years of hands-on experience in all facets of payroll functions as well as over 20 years as a trainer and author, Ms. Lambert has become the most sought-after and respected voice in the practice and management of payroll issues. She has conducted open market training seminars on payroll issues across the United States that have been attended by executives and professionals from some of the most prestigious firms in business today.

A pioneer in electronic and online education, Ms. Lambert produces and presents payroll related audio seminars, webinars and webcasts for clients, APA chapters and business groups throughout the country. Ms. Lambert is an adjunct faculty member at Brandman University in Southern California and is the creator of and instructor for their Practical Payroll Online program, which is approved for recertification hours by the APA. She is also the Program Developer, Subject Matter Expert (SME), and Facilitator for the Certificate in Payroll Practice and Management Program offered by Cengage Learning / Ed2Go through hundreds of colleges and universities across the country.

Certification

This program has been approved for 1.5 recertification credit hour(s) through the HR Certification Institute (HRCI) & Society for Human Resource Management (SHRM).

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Event Value Pack

Participation in the live webinar + Full MP4 Recording + Audio-only MP3 recording. For recordings, choose digital download or CD-ROM by mail.

What You Get With Each Option close

Live Recording

Live Only

Participation in the live upcoming webinar

Recording

Recording Only

Full MP4 recording of webinar, including Q&A. Choose digital download or CD-ROM by mail.

Live and Recording

Live + Recording

Participation in the live webinar + Full MP4 Recording. For recording, choose digital download or CD-ROM by mail.

Event Package

Event Value Pack

Participation in the live webinar + Full MP4 Recording + Audio-only MP3 recording. For recordings, choose digital download or CD-ROM by mail.

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