Tennessee § 8-37-502 - Reports and payments.

§ 8-37-502. Reports and payments.

Monthly Report of Salaries and Contributions. For the purpose of ascertaining the amount of contributions payable under this chapter and chapters 34-36 of this title, it shall be the duty of the employer on or before the tenth day of each month to transmit to the state treasurer, in the manner prescribed by the state treasurer, the gross salary and amount of contributions deducted, if any, from the compensation of employees and contributions of the employer payable under this chapter and chapters 34-36 of this title during the preceding calendar month. The board of trustees is authorized to promulgate substantive and procedural rules requiring that all or a portion of the information described in § 8-35-105(a) is provided in such manner. At the time of transmitting the information required pursuant to subsection (a), the employer shall remit to the state treasurer therewith the amount of contributions due under this chapter and chapters 34-36 of this title; provided, however, that employers shall remit payments due to the stabilization reserve trust account within five (5) business days after receipt of an invoice from the retirement system. Failure to so remit such contributions or failure to remit such payments due to the stabilization reserve trust account shall cause them to become delinquent and liabilities to the employer. Acts 1974, ch. 788, § 10; T.C.A., § 8-3930(3); Acts 1981, ch. 508, § 14; 1984, ch. 601, § 14; 1990, ch. 1027, § 9; 2003, ch. 12, § 8; 2015, ch. 421, § 13; 2019, ch. 381, § 4. Amendments. The 2019 amendment, in (b), deleted the first sentence, which read: “Transmission of Contributions with Monthly Report.”, deleted “to the state treasurer in the manner prescribed by the state treasurer” preceding “the employer”, deleted “the applicable provisions of” following “due under”, substituted “; provided, however, that employers shall remit payments due to the stabilization reserve trust account within five (5) business days after receipt of an invoice from the retirement system. Failure to” for “, and failure to”, inserted “or failure to remit such payments due to the stabilization reserve trust account” following “such contributions”, substituted “them” for “the contributions”, and substituted “liabilities to” for “a liability of”. Effective Dates. Acts 2019, ch. 381, § 14. May 10, 2019. Cross-References. Collection of delinquent payments from local governmental units, § 8-37-505 . Exceptions to monthly reporting and payment authorized, § 8-37-503 . Penalties for delinquent reporting and payment, § 8-37-504 . Records, reports and disposition of employee deductions, § 8-37-206 .