THE FAIR LABOR STANDARDS
The Fair Labor Standards Act 1938 (FLSA), also referred to as the Wages and Hours
Bill, is a federal statute of the United States dedicated to regulating and enforcing labor
standard in the job market. It requires that employment records such as payroll records,
contracts, etc be retained.
DOL (FLSA) 29 CFR 516.5 – Requires payroll records, contracts or collective bargaining agreements, and other information to be kept for 3 years.
DOL (FLSA) 29 CFR 516.6 – Requires basic business records to be retained for 2 years.