Record Retention Schedule

Record Retention Schedule

The Record Retention Schedule below was developed as a guideline and is not intended as final authority, but as a suggested outline for establishing a record retention program. Click here for a printable PDF.

Item Retention Period
Accident/Injury Reports 7 years
Accounts Receivable Ledger 7 years
Accounts – Charged Off 7 years
Accounts Payable Ledgers 7 years
Advertising 5 years
Annual Reports (Audit Reports) Permanent
Articles of Incorporation Permanent
Attendance 7 years
Authority to Issue Securities Permanent
Automobile Expense Reports 7 years
Bank Reconciliations 3 years
Bank Statements 3 years
Bank Deposit/Receipts 7 years
Blueprints/Architectural Drawings Permanent
Board Minutes Permanent
Bonds, Securities 7 years
Bonds Records Permanent
Budget Projections 3 years
Business Plans 3 years
Business Licenses Permanent
Bylaws Permanent
Cash Receipts 7 years
Charge Receipts 7 years
Chart of Accounts Permanent
Check Register Permanent
Checks – Canceled, Payroll 7 years
Checks (for taxes, purchases of property, contracts, etc.) Permanent
Checks – Canceled 7 years
Construction Documents Permanent
Contracts (purchase and sales) 4 years
Contracts and Leases (expired) 7 years
Copyrights Permanent
Correspondence, General 2 years
Correspondence (executive, legal & tax) Permanent
Cost Accounting 6 years
Credit Memos 7 years
Deeds, Mortgages, Bills of Sale, Titles Permanent
Depreciation Schedules Permanent
Discount Rates 7 years
Dividend Checks 7 years
Dividend Register Permanent
Duplicate Deposit Slips 1 year
Electronic Payment Records 7 years
Employee Files (ex-employees) 7 years
Employee Lawsuits Statue of Limitations 7 years
Employee Contracts (after termination) 5 years
Employee Personnel Records (after termination) 7 years
Employment Applications 3 years
Financial Statements (end of year, monthly optional) Permanent
Fixed Asset Purchases Permanent
Item Retention Period
Garnishments 8 years
General Ledgers (and end of year trial balance) 7 years
Insurance Reports Permanent
Insurance Policies (expired) 3 years
Internal Reports (Miscellaneous) 3 years
Inventory Records 7 years
Invoices to Customers 7 years
Invoices from Vendor 7 years
Journals Permanent
Lease Payment Records 4 years
Leasehold Improvements Permanent
Licenses (Federal, State & Local) Permanent
Loan Documents, Notes (expired) 7 years
Minute Book Permanent
Notes Receivable Documents & Schedules 7 years
Notes, Cancelled 7 years
Option Records (expired) 7 years
Patents and Trademarks Permanent
Payroll Records 7 years
Property Appraisers by Outside Appraisers Permanent
Purchase Orders (Except Purchasing Dept.) 1 year
Purchase Orders (Purchasing Dept.) 7 years
Record of Mergers, Consolidation Acquisitions, Dissolutions & Reorganizations Permanent
Retirement & Pension Records
   Plan Document Permanent
   Form 5500 Permanent
   Deposit Spreadsheets 7 years
Sales, and Use Tax Returns 7 years
Sales Records 7 years
Scrap and Salvage Records (inventories, sales, etc.) 7 years
Stock Certificates Permanent
Stock Certificates (cancelled) 7 years
Stock Transactions Permanent
Stock Registers Permanent
Stock Ledger Permanent
Subsidiary Records 7 years
Tax Exempt Forms (after completion) 7 years
Tax Returns, Worksheets & Records Relating to Income Taxes Permanent
Time Cards 7 years
Training Manuals Permanent
Travel & Entertainment Records (including allowances & reimbursements) 7 years
Unemployment Claims 7 years
Union Agreements Permanent
Vouchers for Payments to Vendors, Employees, Etc. 7 years
W-2 Forms 7 years
Withholding & Exemption Certificates 7 years
Workers Compensation Records 10 years

 

 

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