Records Retention Schedule (by life)

This Record Retention Schedule is intended to provide general guidelines only. It is presented with the understanding that it is not to be used without competent professional advice.
See schedule sorted by type  
Sorted by Life:
3 to 4 years
Employment Applications
Insurance Policies after expiration
Contracts – Minor after expiration
Lease Payment Records after expiration
7 years
Accounts Payable
Accounts Receivable
Bank Statements and deposit slips
Canceled Checks Indefinitely for Real Estate Purchases
Electronic Payment Records
Employee Files (ex-employees) Employee lawsuits statute of limitations
Employment Taxes
Expense Records (including T & E records)
Fixed Asset Purchases after disposition
Inventory Records Indefinitely for LIFO system
Loan Payment Schedules
Loan Records From the date of last payment
Payroll Records
Purchase Orders
Audit Reports
Benefit Plans
Board Minutes
Business Licenses
Cash Books
Chart of Accounts
Construction Records (Including costs & blue prints and plans)
Contracts – Major
Correspondence (legal & important matters only)
Deeds, Mortgages, Bills of Sale
Depreciation Schedules
Financial Statements (annual)
General Ledger and subsidiary journals
Insurance records, current accident reports, claims, policies, etc.
Leasehold Improvements
Leases / Mortgages
Patents / Trademarks
Pension / Profit Sharing Plans
Property Appraisals by Outside Appraisers
Real Estate Purchases
Shareholder Records
Stock Registers
Stock Transactions
Tax audit reports
Tax Returns