Tab on $147 in unclaimed wages: Almost $1.4 million — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily
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Tab on $147 in unclaimed wages: Almost $1.4 million

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in Compensation and Benefits,Human Resources

Delaware is attempting to collect almost $1.4 million from a Tennessee company that failed to properly direct a single unclaimed paycheck worth all of $147 into the state coffers.

Generally, employers must remit unclaimed property such as paychecks to a state treasurer. Paychecks become unclaimed after they’re outstanding for a statutory holding period, customarily one year. Say you can’t locate a payee. If you have the person’s last-known address, you remit to that state. If you don’t, you remit to the state in which you are incorporated.

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