Iowa Admin. Code r. 875-216.5 - Records to be preserved two years
(1)
Supplementary basic records. Each employer required to
maintain records under this chapter shall preserve for a period of at least two
years basic employment and earnings records. From the date of last entry, all
basic time and earning cards or sheets on which are entered the daily starting
and stopping time of individual employees, or of separate work forces, or the
amounts of work accomplished by individual employees on a daily, weekly, or
pay-period basis (for example, units produced) when those amounts determine, in
whole or in part, the pay-period earnings or wages of those
employees.
(2)
Records. Records of additions to or deductions from wages paid
include those records relating to individual employees referred to in paragraph
216.1(1)"e."
Notes
29 CFR 516.6.
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Each employer shall preserve for at least three years:
(1) Payroll records. From the last date of entry, all payroll or other records containing the employee information and data required under any of the applicable rules.
(2) Collective bargaining agreements relied upon for the exclusion of certain costs under the definition of "wage" as stated in 875-subrule 215.3(23).
(3) Sales and purchase records. A record of
a. Total dollar volume of sales or business, and
b. Total volume of goods purchased or received during the periods (weekly, monthly, quarterly, etc.) in the form in which the employer maintains records in the ordinary course of business.