Type of Record	Retention Period (years)
Accounting & Tax Records
Accounts payable ledgers and schedulesGeneral correspondence	7
Accounts receivable ledgers and schedules	7
Audit reports (external)	Permanent
Audit reports (internal)	3
Bank reconciliation	3
Bank statements	7
Cash receipts & Disbursement Journals	Permanent
Chart of Accounts	Permanent
Checks (cancelled) [there are exceptions]	7
Checks (cancelled) [important payments]
Taxes, purchases of property, special contracts, etc.	Permanent
Depreciation schedule	Permanent
Expense analyses and expense distribution schedules	7
Expense reports	7
Financial statements (year end)	Permanent
General and private ledgers (and end of yr. trial balances)	Permanent
Internal audit reports	3
Inventories of products, materials, and supplies	7
Invoices (to customers & from vendors)	7
Notes receivable ledgers and schedules	7
Payroll records and summaries,	7
Petty cash vouchers	3
Purchase orders (except purchasing dept copy)	1
Purchasing orders (purchasing dept copy)	7
Receiving sheets	1
Retirement & Pension records	Permanent
Sales commission reports	3
Sales invoices & other sales records	7
Stenographer’s notebooks	1
Subsidiary ledgers	7
Tax returns & worksheets   Revenue agents’ reports and other documents   relating to determination of income tax liability	Permanent
Time books/cards	7
Training manuals	Permanent
Trial balances	7
Union agreements	Permanent
Vouchers for payments to vendors, employees, etc.	7
Withholding tax statements	7
Correspondence Records
General correspondence	2
Legal, tax & other important matters	Permanent
Corporate Records
Articles of incorporation, stockholders bylaws	Permanent
Charter, minutes book, etc.
Capital stock & bond records   Ledgers, transfer registers, stubs showing   issues, record of interest coupons, options, etc.	Permanent
Contracts, mortgages, notes, and leases
Expired	7
Still in effect	Permanent
Copyrights, patents & trademark registrations	Permanent
Deeds, mortgages, and bills of sale	Permanent
Option records (expired)	7
Property records   Including costs, appraisals, depreciation schedules,   blueprints & plans, deeds & easements	Permanent
Stock & bond certificates (cancelled)	7
Insurance Records
Accident reports (settled)	6
Claims (settled)	10
Fire inspection reports (settled)	6
Group disability records	8
Insurance records, current accident reports, claims, policies, etc.	Permanent
Insurance policies (expired)	3
Safety reports	8
Personnel Records
Contracts (expired)	7
Disability & sick benefits	7
Employment applications	3
Garnishments	7
Personnel files (terminated)	7

 

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