Monday, September 21, 2009

What Should Employers Do With Unclaimed Wages?

Recently, I have been asked what employers should do with an employee's final paycheck when that employee has quit, moved away, or otherwise can not be located. The Georgia Department of Revenue provides guidelines on what to do with those unclaimed wages as prescribed by The Disposition of Unclaimed Property Act.

In Georgia, if an employer still holds a paycheck and has lost contact with the employee, the employer must remit the paycheck to the state after one year. The employer must submit Form UP-2C which lists the employees name, address and social security number as well as the amount of wages being remitted.

Some basic information about unclaimed property can be found here.

The forms used by employers to submit to the state along with the wages are found here.

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