A bill for an act relating to employer recordkeeping and auditing requirements for purposes of unemployment insurance and including applicability provisions.

SF 487 requires Iowa employers covered by unemployment insurance to maintain accurate work records (like pay stubs, W-2s, and tax documents) for three years after wages were paid or due. It mandates that the Department of Workforce Development conduct field audits of these records to verify compliance, requiring employers to provide pre-audit notice and allow interviews. Auditors must examine at least one employee's records for one quarter, with the option to expand audits if discrepancies are found. Employers can contest audit decisions, and the law applies to audits starting after the bill's effective date.