| 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 |
| |
| Indefinitely |
| Audit Reports |
| Benefit Plans |
| Board Minutes |
| Business Licenses |
| Bylaws |
| 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 |
