|
Accident reports/claims (settled cases) |
7 yrs. |
|
Accounts payable ledgers and schedules |
7 yrs. |
|
Accounts receivable ledgers and schedules |
7 yrs. |
|
Audit reports |
Forever |
|
Bank reconciliations |
2 yrs. |
|
Bank statements (Permanent if cancelled checks are not returned) |
3 yrs. |
|
Capital stock and bond records: ledgers, transfer registers, stubs showing issues, record of interest coupons, options, etc. |
Forever |
|
Cash books |
Forever |
|
Checks (cancelled -- see exception below) |
7 yrs. |
|
Checks [cancelled for important payments, i.e., taxes, purchases of property, special contracts, etc. (checks should be filed with the papers pertaining to the underlying transaction.)] |
Forever |
|
Contracts, mortgages, notes and leases (expired) |
7 yrs. |
|
Contracts, mortgages, notes and leases still in effect |
Forever |
|
Correspondence (general) |
2 yrs. |
|
Correspondence (legal and important matters only) |
Forever |
|
Correspondence (routine) with customers or vendors |
2 yrs. |
|
Deeds, mortgages and bills of sale |
Forever |
|
Depreciation schedules |
Forever |
|
Duplicate deposit slips |
2 yrs. |
|
Employment applications |
3 yrs. |
|
Expense analyses/expense distribution schedules |
7 yrs. |
|
Financial statements (year end, other optional) |
Forever |
|
Garnishments |
7 yrs. |
|
General/private ledgers, year end trial balance |
Forever |
|
Insurance policies (expired) |
3 yrs. |
|
Insurance records, current accident reports, claims, policies, etc. |
Forever |
|
Internal audit reports (longer retention periods may be desirable) |
3 yrs. |
|
Internal reports (miscellaneous) |
3 yrs. |
|
Inventories of products, material and supplies |
7 yrs. |
|
Invoice (to/from customer or vendor) |
7 yrs. |
|
Journals |
Forever |
|
Magnetic Media*
* The Magnetic Media records retention period may vary based on what information is being stored. The IRS recently issued procedures regarding retention records on Magnetic Media. |
7 yrs. |
|
Minute books for directors, stockholders, bylaws and charter |
Forever |
|
Notes receivable ledgers and schedules |
7 yrs. |
|
Option records (expired) |
7 yrs. |
|
Patents and related papers |
Forever |
|
Payroll records and summaries |
7 yrs. |
|
Personnel files (terminated) |
7 yrs. |
|
Petty cash vouchers |
3 yrs. |
|
Physical inventory tags |
3 yrs. |
|
Plant cost ledgers |
7 yrs. |
|
Property appraisals by outside appraisers |
Forever |
|
Purchase orders (except purchasing dept. copy) |
1 yr. |
|
Purchase orders (purchasing dept. copy) |
7 yrs. |
|
Receiving sheets |
1 yr. |
|
Retirement and pension records |
Forever |
|
Requisitions |
1 yr. |
|
Sales commission report |
3 yrs. |
|
Sales records |
7 yrs. |
|
Scrap and salvage records (inventories sales, etc.) |
7 yrs. |
|
Stenographers' notebook |
1 yr. |
|
Stock and bond certificates (cancelled) |
Forever |
|
Stockroom withdrawal forms |
1 yr. |
|
Subsidiary ledgers |
7 yrs. |
|
Tax returns and worksheets, revenue agents' reports and other documents relating to determination of income tax liability |
Forever |
|
Time books/cards |
7 yrs. |
|
Trademark registrations and copyrights |
Forever |
|
Training manuals |
Forever |
|
Union agreements |
Forever |
|
Voucher register and schedules |
7 yrs. |
|
Vouchers for payment to vendors, employees, etc. (including allowances and reimbursement of employees, officers, etc. for travel and entertainment expenses. |
7 yrs. |
|
Withholding tax statements |
7 yrs. |
