The business was bought by new owners / New payroll system

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Business got bought by new owners/New payroll system

Excuse my ignorance. I don’t know where to post this. So the company I work for, the owners sold it to someone new. Now my boss wants us all to bring void check / our bank account information. What I don’t get is that all of this can’t be transferred from ADP to the new system? I don’t understand why they need this information for direct deposit when we have forms that we filled out when we started ?? Have these perhaps been shredded?

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This thread was originally published on 2021-02-25 20:49:47.

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7 thoughts on “The business was bought by new owners / New payroll system”

  1. No actually it can’t…otherwise it would be very easy for fraud to be committed if it was easily transferable out. As it is ADP requires a secondary security email with a code to add or change DD information even by a system admin…

    Forms are old, possibly stored with the payroll they were input rather than by employee…. if they allow employees to make changes online, there may be no current form at all, etc.

    In the end with online internet banking, you should be able to login and easily print a form that gives this information….

    Plus it’s possible they want employees to sign a new DD form that has the new employers name , info and authorization.

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  2. They probably just want people to provide current information. Personally I would pull that info from ADP but they might not have access to the old owner’s ADP account to do so. Also people may have turned in paper forms initially but perhaps you had access to update your info through ADPs product. There are legit reasons and nothing to be concerned with IMO.

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  3. > What I don’t get is cant all that be transferred from ADP to the new system?

    Nope, those are hashed and cannot be viewed by users nor downloaded. Way too many instances of people stealing this info.

    > have forms we filled out when we started?? Did those maybe get shredded?

    They *better* have been shredded, no reason to keep such a liability around after uploaded into a secure system.

    Yeah it’s annoying, but it’s for your own good.

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  4. The company is looking out for your best interest. Make sure you thank them when you turn in your direct deposit information.

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  5. Speaking of direct deposit, is it legal to demand you get direct deposit, then not provide access to see a pay statement? Or even make it so difficult to get into the myriad of web pages that no one ever sees them ? Thanks!

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  6. Most payroll companies have their own payroll forms they require the employer to fill out. So, yes you will need new forms. The payroll company wants to get the info directly from the employer so they aren’t liable for putting in the wrong data.

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  7. If new owners have their own legal business name and federal id then you will receive 2 w2s this year…most sales of businesses have this occur when sold since the prior company may have a legal issue and you don’t want to buy that

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