|
|
|
Document Type |
Retention Period |
|
Personnel |
|
|
Employment applications |
3 years |
|
Garnishments |
7 years |
|
Payroll records ? active employees (including: name,
address, occupation, pay rate, hours worked for each day worked and each
amount paid to the employee ?applies to all types of employees: hourly, salaried or any compensation
method) |
Permanently |
|
Payroll records ? terminated employees (same records as
above) |
3 years after date of termination |
|
Personnel files (terminated) |
3 years after date of termination |
|
Retirement and pension records |
Permanently |
|
Training manuals |
Permanently |
|
Union agreements |
Permanently |
|
Withholding tax statements |
4 years |
|
Payroll tax reports |
7 years |
|
Cash and Banking |
|
|
Bank statements |
4 years |
|
Bank reconciliations |
4 years |
|
Cash books |
Permanently |
|
Checks (canceled ? see exception below |
7 years |
|
Checks (canceled for important payments, i.e. taxes,
purchases of property, special contracts, etc. checks should be filed with the papers
pertaining to the underlying transaction) |
Permanently |
|
Duplicate deposit tickets |
4 years |
|
Petty cash vouchers |
4 years |
|
Accounting |
|
|
Capital stock and bond records: ledgers, transfer registers, stubs showing
issues, record of interest coupons, options, etc. |
Permanently |
|
Chart of accounts |
Permanently |
|
Depreciation schedules |
7 years |
|
Financial statements (year-end, other optional) |
Permanently |
|
General/private ledgers, year-end trial balances |
Permanently |
|
Inventories of products, materials, and supplies |
7 years |
|
Journals |
Permanently |
|
Physical inventory tags |
4 years |
|
Property appraisals by outside appraisers |
Permanently |
|
Purchase orders |
4 years |
|
Receiving sheets |
4 years |
|
Requisitions |
4 years |
|
Sales records |
7 years |
|
Subsidiary records |
7 years |
|
Tax returns and worksheets, revenue agents? reports, and
other documents relating to determination of income tax liability |
Permanently |
|
Receivables and Payables |
|
|
Accounts receivable ledgers and schedules |
7 years |
|
Accounts payable ledgers and schedules |
7 years |
|
Contracts, mortgages, notes and leases (expired) |
7 years |
|
Contracts, mortgages, notes and leases (unexpired) |
Permanently |
|
Invoices (to customers, from vendors) |
7 years |
|
Notes receivable ledgers and schedules |
7 years |
|
Miscellaneous Records |
|
|
Accident reports/claims (settled cases) |
7 years |
|
Correspondence (general) |
2 years |
|
Correspondence (legal and important matters only) |
Permanently |
|
Deeds, mortgages, and bills of sales |
Permanently |
|
Insurance policies (expired) |
4 years |
|
Insurance records, current accident reports, claims,
policies, etc. |
Permanently |
|
Minute books of directors, stockholders, bylaws, and
charter |
Permanently |
|
Patents and related papers |
Permanently |
|
Stock and bond certificates (canceled) |
7 years |
|
Trademark registrations and copyrights |
Permanently |
|
|
|
