|
How long should I keep records?
The following is a list detailing which records must be kept permanently and which can be discarded after a period of time. The suggested retention time period generally begins at the end of the fiscal year in which the record was created. And for employment records, the schedule begins after the employee terminates. Items supporting your tax returns should be retained a minimum of three years after the applicable tax return was filed.
Permanent Records
* Annual Financial Statements
* Tax Returns (estate, gift and income)
* Articles of Incorporation or Organization
* Patent Records
* Pension Records
* Company Stocks and Bonds (and any related information)
* Property Records (including account ledgers, appraisals, plans, specifications and sales)
* Deeds
* Dividend Registers
* General Ledgers
* Title Papers
* Contracts, Changes and Specifications
* Audit Reports
* Union (Labor) Contracts
* Trademark Records
* Minutes of Meetings
* Warrants
* Note Registers
* Year End General Journal Entries
Ten Years
* Check Registers
* Personal Property Tax Returns
* Corporate Contracts
* Sales and Use Tax Returns
* Franchise Agreements
* Voucher Registers
* Accounting Journals
* Workers' Compensation Reports
* Tax Records
Seven Years
* Accident Reports
* Notes
* Bank Statements
* Options
* Checks
* Plant Acquisition Records
* Correspondence
* Property Damage Reports
* Depreciation Schedules
* Employee and Vendor Contracts
* Purchase Invoices
* Employment Applications and Contracts
* Sales Invoices, Slips and Work Records
* Payroll Tax Returns
* Fixed Asset Records
* Social Security Tax Returns
* Inventory Records
* Uncollectible Accounts Records
* Invoices
* Vouchers
* Leases
* Equipment Records
* Withholding and Exemption Certificates
* Maintenance and Repair Records
* W-2 Forms
* Mortgage Records
* Personnel Files
* Paychecks
* Unemployment Claims
Five Years
* BilIs of Lading
* Fire-Damage Reports
* Cost Accounting Records
* Freight Draft, Bills and Claims
* Daily Time Reports
* Shipping Tickets
* Sales Commission Reports
* Expense Reports
Three Years
* Bank Deposit Slips
* Insurance Policies (after expiration)
* Bank Reconciliations
* Petty Cash Records
* Budgets
* Purchase Order Copies
* Delivery Receipts
* Receiving Reports
* Remittance Statements
* Fidelity Bonds
* Surety Bonds
* Requisitions
* Interim Financial Statements
* Garnishments
* Travel Records
|
