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 |
If you have any questions or concerns, please contact our office at (888) 388-1040.