Record Retention Schedule

Accident reports/claims (settled cases)
 
6 years
Accounts payable ledgers and schedules6 years
Accounts receivable ledgers and schedules6 years
Audit reportsPermanently
Bank reconciliations2 years
Bank statements3 years
Capital stock and bond records: ledgers, transfer registers, stubs showing issues, record of interest coupons, options etc.Permanently
Cash booksPermanently
Charts of accountsPermanently
Checks (canceled-see exception below)6 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
Contracts, mortgages, notes, and leases (expired)6 years
Contracts, mortgages, notes, and leases (still in effect)Permanently
Correspondence (general)2 years
Correspondence (legal and important matters only)Permanently
Correspondence (routine) with customers and/or vendors2 years
Deeds, mortgages, and bills of salePermanently
Depreciation schedulesPermanently
Duplicate deposit slips2 years
Employment applications3 years
Expense analyses/expense distribution schedules6 years
Financial statements (year-end, other optional)Permanently
Garnishments6 years
General/private ledgers, year-end trial balancePermanently
Insurance policies (expired)3 years
Insurance records, current accident reports, claims, policies, etc.Permanently
Internal audit reports (longer retention periods may be desirable)3 years
Internal reports (miscellaneous)3 years
Inventories of products, materials, and supplies6 years
Invoices (to customers, from vendors)6 years
JournalsPermanently
Magnetic tape and tab cards1 year
Minute books of directors, stockholders, bylaws, and charterPermanently
Notes receivable ledgers and schedules6 years
Option records (expired)6 years
Patents and related papersPermanently
Payroll records and summaries6 years
Personnel files (terminated)6 years
Petty cash vouchers3 years
Physical inventory tags3 years
Plant cost ledgers 6 years
Property appraisals by outside appraisersPermanently
Property records, including costs, depreciation reserves, year-end trial balances, depreciation schedules, blueprints, and plansPermanently
Purchase orders (except purchasing department copy)1 year
Purchase orders (purchasing department copy)6 years
Receiving sheets1 year
Retirement and pension recordsPermanently
Requisitions1 year
Sales commission reports3 years
Sales records6 years
Scrap and salvage records (inventories, sales, etc.)6 years
Stenographers’ notebooks1 year
Stock and bond certificates (canceled)6 years
Stockroom withdrawal forms1 year
Subsidiary ledgers6 years
Tax returns and worksheets, revenue agents’ reports and other documents relating to determination of income tax liabilityPermanently
Time books/cards6 years
Trademark registrations and copyrightsPermanently
Training manualsPermanently
Union agreementsPermanently
Voucher register and schedules6 years
Vouchers for payments to vendors employees, etc. (includes allowances and reimbursement of employees officers, etc., for travel and entertainment expenses)6 years
Withholding tax statements6 years

Have questions?