What post-closing payroll information must buyers maintain?

Employees who worked for the target company, even if hired initially by the buyer, may at some point no longer work for the buyer. Normally, a company does not maintain up-to-date information on former employees. However, if a buyer takes on the responsibility to make future distributions such as escrow releases or earnout payments, then buyers must keep track of their former employees.  Buyers who use the Acquiom® Compensation Payments are not required to maintain up-to-date records for former employees. When former sell-side employees move, change their address or their payment instructions, SRS Acquiom updates corresponding records to ensure that payments and tax forms are properly delivered. Acquiom Compensation Payments greatly simplifies payments administration by freeing buyers and sellers from these burdensome and complicated responsibilities.

For more information, please contact us at sales@srsacquiom.com.

Posted in: Services: Compensation Payments