For all practical and legal purposes, forever. Depending on the State the employer and employee are in the money MUST be turned over to the UNCLAIMED FUNDS department of that state. The time limit to default to themis between 3 and 6 years (depending on the State). The government then tried (theoretically) to find the owner...this is the unclaimed funds info you see published in the paper every so often and consumer news reports about...finding people, some with suprisingly large amounts of money, that never claimed it...from things like bank accounts, pay, Accounts Payable, stock, etc. This "escheat funds" or unclaimed funds requirement is getting an increasingly larger amount of review and such by each government..not paying over the funds not only maintains the employers liability, but exposes them to sustantial penalties.
As for the uncashed checks, you will need to talk to an attorney on that one. As for the age, check links below.
Employer - NO. Employee - probably not. In fact you are probably setting yourself up to owe income taxes at the end of the year.
A payroll signature is the authorized signature for payroll checks.
Normally it is before...it is a non taxable fringe benefit. (MCCain wants to change that). My employer said it is not. I believe there is a scam that my employer is doing with our payroll checks.
If you haven't received the checks from an employer, contact their payroll department. If you haven't received the checks from the bank, first talk to a teller, then the bank manager. If they state checks have been sent and you haven't gotten them in 10 days, ask for a reissue of the checks (new ones).
No
Shred them.
Paychex is an outsourced payroll processing company that many companies use in lieu of doing payroll in house. Paychek will process your payroll checks, provide payroll reports, process year end W-2's. Paychex is a reputable company, my current employer uses Paychex at one of our locations.
No they do not.
Cashiers Checks or Official Checks do not expire, but most states have abandoned property rules which require financial institutions to send any uncashed funds to the State after 3 yrs.
Normally the employer sends 12 checks, One per month.. however most companies that are in the worksite market canaccommodate other modes, like weekly. biweekly and semimonthly Companies that are committed to this market can match payroll for schools and other groups that have regular non working periods ( not our Congress ).. such as billing 9 monthly bills for the full 12 moth premiums.. Bob Stewart
If they were yours you would cash them. It is assumed they are payable to a deceased person. They must be returned to the Social Security Administration. Keeping or cashing checks made out to another payee is a criminal offense.