FAR 4.705-2 Pay administration records.

In plain English

This section sets retention periods for payroll and pay-related records. Contractors must keep payroll sheets, registers, change slips, and tax withholding statements for 4 years, and time and attendance cards, paid checks, cash receipts, and other evidence of employee payments for 2 years. It matters because it tells contractors how long to keep these records.

Applies to: Contractors maintaining payroll and pay administration records

What it requires

• Retain payroll sheets, registers, or their equivalent, change slips, and tax withholding statements for 4 years
• Retain clock cards or other time and attendance cards for 2 years
• Retain paid checks, receipts for wages paid in cash, or other evidence of payments for services rendered by employees for 2 years

Key terms: payroll sheets · registers · change slips · tax withholding statements · clock cards

Written by AI from this section's text. A guide, not legal advice: the text below rules.