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.
