Question

Twinte Cars, a California corporation, has internal corporate requirements that stipulate a three-year payroll document retention period. It enters into a contract with an international company that mandates a six-year payroll document retention requirement. How should Twinte Cars balance these requirements

Answer 1

Answer:

-The period for retention could be up to 8 years depending upon the circumstances.

-The benefits and records may be called to evidence

Explanation:

In this scenario Twinte cars needs to balance internal requirement of 3 year payroll document retention period and the contract if 6 year payroll retention with the international company. Usually foreign companies have a higher retention requirement.

A way out of this predicament will be to get a new retention period of 8 years. This will satisfy requirements of the international company.

Also Twinte cars can provide benefits and records from their internal 3 year payroll retention to the international company