Record Retention

How long do I need to keep my records? The list below is what we use as a record retention guideline for retention and disposal of your records.

Auditors reports .......................................................................... Indefinitely
Bank reconciliation ...................................................................... 1 year
Bank Statements and Deposit Slips ............................................... 3 years
Cash Books ................................................................................ Indefinitely
Charts of Accounts ...................................................................... Indefinitely
Checks- Canceled-Payroll-General .................................................. 8 years
Depreciation Schedules ................................................................ Indefinitely
Dividend Checks- canceled ........................................................... 6 years
Expense Reports 6 years .............................................................. 6 years
Financial Statements-End of Year .................................................. Indefinitely
Fixed Assets Detail ...................................................................... Indefinitely
General Ledgers and Journals ....................................................... Indefinitely
Payroll- Time Cards-Individual Time Reports-Earning Records ........... 3 years
Subsidiary Ledgers (including Receivables and Payables) .................. 6 years
Trial Balances- Monthly ................................................................ 6 years
Vouchers- for payment to vendor, employees, etc. ........................... 8 years

Bylaws, Charter, and Minute Books ............................................... Indefinitely
Capital- Stock and Bond Records .................................................. Indefinitely
Checks- Taxes, Property, Settlement of important contracts ............. Indefinitely
Contracts and Agreements still in effect ........................................ Indefinitely
Copyrights and Trademark Registrations ....................................... Indefinitely
Deeds and Easements ................................................................ Indefinitely
Labor Contracts ......................................................................... Indefinitely
Mortgages, Notes, and Lease Expired ............................................ 8 years
Patents ..................................................................................... Indefinitely
Proxies ..................................................................................... Indefinitely
Retirement and Pension Records .................................................. Indefinitely
Tax Returns and Working Papers- Revenue Agents Reports .............. Indefinitely

General ...................................................................................... 2 years
Legal and Tax .............................................................................. Indefinitely
License, Traffic, and Purchase ........................................................ 6 years
Production ................................................................................... 8 years

Accident Reports ......................................................................... 6 years
Claims-After Settlement ................................................................ 10 years
Fire Inspection Reports ................................................................. 6 years
Group Disability Reports ............................................................... 8 years
Policies- All Types - Expired ......................................................... 4 years
Safety Reports ............................................................................. 8 years

Contracts - Expired ...................................................................... 6 years
Daily Time Reports ....................................................................... 6 years
Disability and Sick Benefit Records ............................................... 6 years
Employment Applications ............................................................. 3 years
Personnel Files - Terminated ......................................................... 6 years
Withholding Tax Statements ......................................................... 6 years

Purchase Orders .......................................................................... 3 years
Requisitions ................................................................................. 3 years
Sales Contracts ........................................................................... 3 years
Sales Invoices .............................................................................. 3 years

Export Declarations ...................................................................... 4 years
Freight Bills ................................................................................. 4 years
Manifests ..................................................................................... 4 years
Shipping and Receiving Reports ..................................................... 4 years
Waybills and Bills of Lading ........................................................... 4 years