« Document Retention Schedule »
Record Type Retention Period Record Type Retention Period
Accident reports/claims (settled cases) 7 years Magnetic tape and tab cards 1 year
Accounts payable ledgers and schedules 7 years Minute books of directors, stockholders, bylaws, and charter Permanently
Accounts receivable ledgers and schedules 7 years Notes receivable ledgers and schedules 7 years
Audit reports Permanently Option records (expired) 7 years
Bank reconciliations 2 years Patents and related papers Permanently
Bank statements 4 years Personnel files (terminated) 7 years
Capital stock and bond records: ledgers, transfer registers, stubs showing issues, record of interest coupons, options, etc Permanently Payroll records and summaries 7 years
Cash books Permanently Petty cash vouchers 4 years
Charts of accounts Permanently Physical inventory tags 4 years
Checks (canceled-see exception below) 7 years Plant cost ledgers 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 Property appraisals by outside appraisers Permanently
Contracts, mortgages, notes and leases (expired) 7 years Property records, including costs, depreciation reserves, year-end trial balances, depreciation schedules, blueprints, and plans Permanently
Contracts, mortgages, notes and leases (still in effect) Permanently Purchase orders (purchasing department copy) 7 years
Correspondence (general) 2 years Receiving sheets 1 year
Correspondence (legal and important matters only) Permanently Retirement and pension records Permanently
Correspondence (routine) with customers and/or vendors 2 years Requisitions 1 year
Deeds, mortgages, and bills of sale Permanently Sales commission reports 4 years
Depreciation schedules Permanently Sales records 7 years
Duplicate deposit slips 2 years Scrap and salvage records (inventories, sales, etc.) 7 years
Employment applications 3 years Stenographers' notebooks 1 year
Expense analysis/expense distribution schedules 7 years Stock and bond certificates (cancelled) 7 years
Financial statements (year-end, other optional) Permanently Stockroom withdrawal forms 1 year
Garnishments 7 years Subsidiary ledgers 7 years
General/private ledgers, year-end trial balance Permanently Tax return and worksheets, revenue agents' reports, and other documents relating to determination of income tax liability Permanently
Insurance policies (expired) Permanently Time books/cards 7 years
Insurance records, current accident reports, claims, policies, etc Permanently Trademark registrations and copyrights Permanently
Internal audit reports (longer retention periods may be desirable) 3 years Training manuals Permanently
Internal reports (miscellaneous) 3 years Union agreements Permanently
Inventories of product, materials, and supplies 7 years Voucher register and schedules 7 years
Invoices (to customers, from vendors) 7 years Vouchers for payments to vendors, employees, etc. (includes allowances and reimbursement of employees, officers, etc., for travel and entertainment expenses) 7 years
Journals Permanently Withholding tax statements 7 years