| Accounting and Finance Records | |
|---|---|
| Accounts Payable ledgers and schedules | 7 years |
| Accounts Receivable ledgers and schedules | 7 years |
| Annual Audit Records, including workpapers that relate to an audit | 7 years after completion of audit |
| Annual Audit Reports and Financial Statements | Permanent |
| Annual Budgets | Permanent |
| Bank Statements and Canceled Checks | 7 years |
| Cancelled checks for fixed assets | Permanent |
| Chart of accounts | Permanent |
| Depreciation schedules | Permanent |
| Expense records | 7 years |
| Fixed Asset (property basis) records | Permanent |
| General Ledgers, general journals, chart of accounts, trial balances | 7 years |
| Interim Financial Statements | 7 years |
| Investment Records | 7 years after sale or maturity of investment |
| Purchases | 7 years |
| Vendors' invoices and paid bills | 7 years |
Continuing Education Records
7 years
| Contracts | |
|---|---|
| Contracts and related correspondence | 15 years after expiration or termination |
| Corporate Records | |
|---|---|
| Articles of Incorporation | Permanent |
| Bylaws | Permanent |
| Corporate Seals | Permanent |
| Licenses and permits | Permanent |
| Minutes of board, executive, or other committee meetings | Permanent |
| Correspondence and Internal Memoranda | |
|---|---|
| Client newsletters & alerts | 7 years |
| Correspondence or memos that pertain to a particular project | Keep with project files and take on retention time of project |
| Correspondence or memos that pertain to routine matters | Until follow-up is completed |
| Correspondence or memos that pertain to the record they support | Same as record |
| Correspondence or memos that pertain to non-routine matters or having significant lasting consequences | Permanent or until statute of limitations runs |
| Emails | Treat same as correspondence and internal memoranda |
| Internal publications & promotional brochures | 7 years |
| Training manuals | Permanent or until statue of limitations runs |
| Insurance Records | |
|---|---|
| Accident reports and settled claims | Settlement date + 6 years |
| Fire inspection and safety reports | 7 years |
| Insurance policies (still in effect) | Permanent |
| Insurance policies (expired) | 7 years |
| Investments in Securities | |
|---|---|
| Purchase confirmations | Permanent for currently owned; 6 years after sale |
| Reinvested Dividend information | Permanent for currently owned; 6 years after sale |
| Sales Confirmations | 6 years after sale |
| Legal Files and Papers | |
|---|---|
| Court Orders | Permanent |
| Legal Memoranda and Opinions | Permanent |
| Litigation files | Permanent |
| Partnership or Shareholder Agreements | Permanent |
| Patent/trademark records | Permanent |
| Stock Certificates and ledgers | Permanent |
| Payroll Documents | |
|---|---|
| Employee deduction authorizations | Termination + 7 years |
| Employee time sheets | 7 years |
| Garnishments, assignments, attachments | Termination + 7 years |
| Payroll deductions | Termination + 7 years |
| Payroll files and related reports | 7 years |
| Payroll registers | Termination + 7 years |
| W-2 or 1099 forms | 7 years |
| W-4 forms | Termination + 7 years |
| Pension Documents | |
|---|---|
| Annual Retirement and Pension Records | Permanent |
| Personnel Records | |
|---|---|
| Employee expense reports | 7 years |
| Employee personal records | Termination + 7 years |
| Employment contracts | Termination + 7 years |
| Employment Records - non-hired applications | 1 year |
| Forms I-9 | Termination + 7 years |
| Personnel Policies | Termination + 7 years |
| Real Property Records - Currently Own | |
|---|---|
| Original purchase, sale, lease agreements | Permanent |
| Property Deeds, assessments, licenses, rights of way | Permanent |
| Property titles | Permanent |
| Property Surveys | Permanent |
| Mortgage and loan statements | Permanent |
| Major capital improvement receipts | Permanent |
| Property Insurance policies | Permanent |
| Real Property Records - Sold | |
|---|---|
| Association Covenants | 6 years after sale of property |
| Closing documents | 6 years after sale of property |
| Form 1098 Mortgage Interest documents | 6 years after sale of property |
| Form 1099-s proceeds from real estate transactions | 6 years after sale of property |
| Home inspection records | 6 years after sale of property |
| Proof of residency (utility bills, voter registration, etc.) | 6 years after sale of property |
| Property tax records | 6 years after sale of property |
| Receipts for minor improvements | 6 years after sale of property |
| Tax Records | |
|---|---|
| Annual Information Returns | 7 years |
| Depreciation schedules | Permanent |
| Excise tax records | 7 years |
| IRS or other Governmental Audit Records | Permanent |
| IRS Rulings | Permanent |
| Payroll tax records | 4 - 7 years |
| Sales/Use Tax Records | 7 years |
| Tax bills, receipts, statements | 7 years |
| Tax exemption documents and related correspondence | Permanent |
| Tax returns - income, franchise, property | Permanent |
| Tax workpaper packages | 7 years |
| Individual Records | |
|---|---|
| Alimony, Custody, Dependency, or Prenuptial Agreements | Permanent |
| Annuity Year End Statements | 7 years |
| ATM and deposit slips | Keep until reconciled on your bank statement |
| Bank statements | 3 years |
| Bills | Keep until payment verified on next bill |
| Birth and Death Certificates | Permanent |
| Cancelled checks | 3 years |
| Car records | Keep until car sold |
| Charitable contributions | Keep with applicable tax return - may discard after 4 years |
| Credit card purchase receipts | Discard after purchase appears on credit statement or for warranty period, merchandise returns or taxes |
| Credit card statements | 3 years |
| Divorce decree or legal separation agreements | Permanent |
| Documentation of cost or basis of property transferred by spouse during marriage or divorce | Permanent |
| Estate settlement documents | Permanent |
| Health Insurance Policies | Keep until policy expires, lapses, or is replaced |
| Healthcare Proxies | Permanent |
| Home and property insurance | Keep until policy expires, lapses, or is replaced |
| House Records - purchase and/or improvements | Permanent - may discard 6 years after property is sold |
| Individual Retirement Account records | Permanent |
| Investment trade confirmations and statements that indicate buying and selling | Permanent - may discard three years after investment is sold |
| IRA annual reports | Permanent |
| Medical records | Permanent |
| Passports | Until expired |
| Pay stubs | 1 year - discard after compare to W-2 |
| Powers of attorney | Permanent |
| Tax documents received such as W-2s, 1099, | Keep with applicable tax return - may discard after 4 years |
| Tax Returns | Permanent |
| Trust Documents | Permanent |
| Warranties | Keep for life of product or until warranty has clearly expired |
| Wills and any amendments | Permanent |