NYSDOL Releases Proposed Notice and Consent Forms for Direct Deposit and Payroll Debit Cards
In October, we wrote about the new NYSDOL regulations for employers who use direct deposit and/or payroll debit cards to pay their employees. The regulations take effect on March 7, 2017 – just about a month from now – and they impose a host of new rules on employers, including the requirement to provide notice and obtain consent from employees who elect to receive wages by direct deposit or payroll debit card.
In connection with these new regulations, the NYSDOL had promised to post template notice and consent forms for employers in advance of March 7 effective date. The NYSDOL has now released proposed templates and it is accepting public comments and feedback on the forms until February 10, 2017. The proposed template form for payroll debit cards is available here, and the proposed template form for direct deposit is available here. Comments and feedback on the templates can be submitted by email at [email protected].
Once the forms are finalized, employers will not be required to use them, but they must be careful to ensure that any alternative utilized complies with the new regulations. We will update this post once the final templates are released.