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Kentucky Final And Unclaimed Paychecks Laws

Final And Unclaimed Paychecks Laws In Kentucky

>>> About Final Paychecks Laws In Kentucky

State and federal law requires that employers give departing employees their final paycheck within a specified time period or - if a paycheck goes unclaimed - to follow state escheatment rules. The rules in Kentucky for both are included below.

Kentucky final paycheck rulesKentucky's Requirements For When To Send Final Paychecks

Kentucky requires that final paychecks be sent either on the next scheduled payday or with 14 days, whichever is later.

What Should Be Included In A Final Paycheck In Kentucky

The final paycheck should contain the employee's regular wages from the most recent pay period, plus other types of compensation such as commissions, bonuses, and accrued sick and vacation pay. Employers can withhold money from the employee's last paycheck if the employee owes your organization.

For More Info On Final Paychecks

For more about Final Paychecks, go to https://www.payrolltrainingcenter.com/payroll-requirements-for-terminated-employees-wt1000388


>>> About Unclaimed Paycheck Laws In Kentucky

Believe it or not, you just can't keep a paycheck that an ex-employee doesn't take. Even if a check is abandoned, the employer has no right to void the check and keep the funds.

Technically, unclaimed paychecks are subject to 'escheat' laws as unclaimed property under the laws of the state where the employee last worked. This means that employers are required to follow their state's laws for submitting unclaimed paychecks to the state. Not doing so can subject employers to fines and penalties.
Kentucky final paycheck rules
Kentucky's Requirements For Unclaimed Paychecks

The following are the reporting and recordkeeping requirements for Kentucky's unclaimed paycheck laws:
  • Recordkeeping Requirements
    Employers must retain a record of the names and last known addresses of payees for seven years after reporting to the state
  • Reporting Requirements
    Kentucky employers must report and remit unclaimed wages annually. Typically, the report for unclaimed wages must be sent before Nov. 1 of each year for wages unclaimed as of June 30 of that year
With regard to recordkeeping, Kentucky employers should speak with their legal counsel to determine processes and procedures re how many attempts the employer should make to contact ex-employees.

For More Info On Unclaimed Paychecks

For more about Unclaimed Paychecks, go to https://www.payrolltrainingcenter.com/rules-for-unclaimed-paychecks-wt1000338

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Contact Info For Final And Unclaimed Paycheck Requirements For Kentucky

Kentucky Labor Cabinet
1047 US Hwy 127 S
Suite 4
Frankfort, KY 40601-4381
502-564-3070
www.labor.ky.gov





References and Disclaimers:

This information is based on a variety of state laws and regulations, and is subject to change. The PayrollTrainingCenter makes every effort to make sure this information is current and accurate, however, the PayrollTrainingCenter is not engaged in rendering legal or professional advice and shall not be held responsible for any inaccuracies contained herein.

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