Handling Unclaimed or Abandoned Wages: What Payroll Needs to Know in 2016

Instructor: Vicki M. Lambert
Product ID: 703938
  • Duration: 90 Min

recorded version

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This training program will discuss when wages are considered abandoned, how to track and submit these checks to the appropriate state, and how to perform the required due diligence. Failure to comply with state regulations could result in audit assessments, significant interest accumulations, and criminal penalties. The ramifications may not even be limited to one state.

Course "Handling Unclaimed or Abandoned Wages: What Payroll Needs to Know in 2016" has been pre-approved by HRCI as eligible for 1.5 credits towards a participant's recertification upon full completion.
“The use of this seal is not an endorsement by the HR Certification Institute of the quality of the program”.

Why Should You Attend:

It is every employer’s responsibility to identify which paychecks have remained unclaimed by employees and to turn over these unclaimed wages to the appropriate state annually. But most employers are unaware of this requirement and are equally unaware of the penalties, fines and especially interest that can be levied against such employers by the state. 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.

This webinar will detail laws and regulations regarding unclaimed wages; discuss payroll’s responsibility when it comes to abandoned wages and liability issues in case of an outside payroll service; and list best practices for tracking unclaimed wages correspondence to comply with due diligence requirements.

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 are the steps taken 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:

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

Instructor Profile:

Vicki M. Lambert, CPP, is president and academic director of The Payroll Advisor™ a firm specializing in training payroll professionals. 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 is a 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.

Ms. Lambert has lectured extensively on payroll administration and compliance issues for clients that have included Automatic Data Processing, CCH Incorporated, Ceridian Employer Services, and The Employer Group. Ms. Lambert has also served as a consultant and in-house trainer for businesses such as Sun Microsystems, Paychex, Fox Studios, Disney, County of Riverside, and City of Hesperia.

Ms. Lambert is an adjunct faculty member at Brandman University in Southern California. She is the creator of and the instructor for the Practical Payroll Online program offered through the School of Extended Education. Ms. Lambert currently produces and presents audio seminars and webcasts for clients and business groups throughout the country.

Topic Background:

Abandoned wages, abandoned property, escheat…the process may have many names but only one real requirement. All employers must report all unclaimed wages to the proper state, at the proper time, in the proper manner using the proper method. The trouble is many employers are simply not aware of this requirement. The issue of non-compliance is just a matter of the company not being aware of their reporting responsibilities. But unfortunately not being aware of the requirement doesn’t stop the huge fines and penalties that befall the company for failing to report unclaimed wages.

Failure to comply with state regulations could now result in audit assessments, significant interest accumulations, and criminal penalties. The ramifications may not even be limited to one state. For instance, organizations with the corporate headquarters in one state and employees in other states could be liable for penalties in all states that they have employees. It all depends on which employee did not claim which paycheck. And given the current economic environment, 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.

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