Records Management

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Rome NY, 13440-3533

Home ► Records Management

One of the first hurdles to overcome in Records Management is to know what records to keep and for how long to keep them.

The standards suggested in the tables listed below are simply recommendations to use as guidelines in the retention and disposal of your records.

We encourage you to confer with your legal and accounting departments before destroying any documents to ensure that these retention guidelines are in accordance with your individual company policies and procedures.

ACCOUNTING			RETENTION PERIOD
		Articles of Incorporation	Permanent
		Audit Reports (Public)	Permanent
		Accounts Payable Ledger	7 years
		Accounts Receivable Aging Reports	7 years
		Accounts Receivable Ledger	7 years
		Accounts Receivable Invoices	7 years
		Accounts Written Off	7 years
		Authorization-Accounting	5 years
		Balance Sheets	Permanent
		Bank Reconciliations	7 years
		Bank Statements	7 years
		Bank Deposit Slips	3 years
		Budgets	3 years
		Canceled Checks	10 years
		Canceled Dividend Checks	Permanent
		Cash Book	Permanent
		Cash Disbursement & Receipt Record	Permanent
		Cash Sales Slips	7 years
		Charge Slips	7 years
		Charts of Accounts	Permanent
		Check Register	Permanent
		Expense Reports	7 years
		Financial Statements	Permanent
		General Ledger	Permanent
		Investment-Sales/Purchases	Permanent
		Journal Entries	Permanent
		Petty Cash Records	7 years
		Profit/Loss Statements	Permanent
		Purchase Order	7 years
		Subsidiary Ledger	Permanent
		Trial Balance	Permanent
		Vendor Invoices	7 years
		Voucher Check Copies	8 years
		Depreciation Schedules	Permanent
		Fixed Assets Detail	Permanent
		Payroll-Time Cards-Individual Time Reports-Earning Records	3 years
	BUSINESS/CORPORATE RECORDS		RETENTION PERIOD
		Amendments	Permanent
		Annual Reports	Permanent
		Articles of Incorporation	Permanent
		Audit Reports-Public	Permanent
		Audit-Internal	6 years
		Board of Directors-Committee	Permanent
		Board of Directors-Minute Book	Permanent
		Bylaws	Permanent
		Capital Stock Certificates	Permanent
		Capital Stock and Bonds Ledger	Permanent
		Capital Stock Transactions	Permanent
		Charter	Permanent
		Checks-Taxes, Property, Settlements of Important Contracts	Permanent
		Contracts and Agreements-Still in Effect	Permanent
		Contracts-After Termination	Permanent
		Contributions	7 years
		Copyrights and Trademark Registrations	Permanent
		Correspondence-Accounting	5 years
		Correspondence-General	Permanent
		Deeds and Easements	Permanent
		Dividend Register and Cancelled Dividend Checks	Permanent
		Election Records	Permanent
		Financial Statements	Permanent
		Labor Contracts	Permanent
		Mortgages, Notes, and Lease Expired	8 years
		Organizational Charts	Permanent
		Partnership Agreement	Permanent
		Patents	Permanent
		Proxies	Permanent
		Retirement and Pension Records	Permanent
		Stock Transfer records	Permanent
		Stockholders-Minute Book	Permanent
		Tax Returns and Working Papers-Revenue Agents Reports	Permanent
	CORRESPONDENCE		RETENTION PERIOD
		General	2 years
		Legal and Tax	Permanent
		License, Traffic, and Purchase	6 years
		Production	8 years
	FIXED ASSETS		RETENTION PERIOD
		Depreciation Schedule	Permanent
		Inventory Records	Permanent
		Plans and Blueprints	Permanent
		Plant Cost ledger	Permanent
		Property Appraisals	Permanent
		Property Register	Permanent
		Records for Property Subject to Depletion	Permanent
	HEALTH INFORMATION		RETENTION PERIOD
		Diagnostic Images (such as x-ray films)	5 years
		Disease Index	10 years
		Fetal Heart Monitor Records	10 years after infant reaches the age of majority
		Master Patient/Person Index	Permanent
		Operative Index	10 years
		Patient health/medical records (adults)	10 years after the most recent encounter
		Patient health/medical records (minors)	Age of majority plus statue of limitations
		Physician Index	10 years
		Register of Births	Permanent
		Register of Deaths	Permanent
		Register of Surgical Procedures	Permanent
	HUMAN RESOURCES		RETENTION PERIOD
		Accident Reports-Settled	7 years
		Attendance Records	7 years
		Contracts-Expired	6 years
		Daily Time Reports	6 years
		Dental Benefits	5 years
		Disability Benefits-After Expiration/Settlement	7 years
		Employee Medical History	7 years
		Employment Application-Not Hired	3 years
		Employment Application-Hired	Permanent
		Family and Medical Leave	3 years
		Garnishments	5 years
		Life Insurance Benefits	5 years
		Medical Benefits	7 years
		Pension Plan Agreement	Permanent
		Performance Record-After Termination	7 years
		Personnel File-After Termination	7 years
		Personnel File-Current Employees	Permanent
		Profit Sharing Agreement	Permanent
		Safety Reports	5 years
		Sick Pay	4 years
		Vacation Files	4 years
		Withholding Tax Statement	6 years
		Workers Compensation Benefits	10 years
	INSURANCE		RETENTION PERIOD
		Accident Reports	Permanent
		Automobile Insurance Claims	Permanent
		Claims-After Settlement	10 years
		Disability Insurance Claims-After Termination	7 years
		Expired Insurance Policies	10 years
		Fire Inspection Reports	6 years
		Foreign Insurance Policies	3 years
	INSURANCE		RETENTION PERIOD
		Group Disability Reports	8 years
		Insurance Appraisals	6 years
		Policies-All Types-Expired	4 years
		Safety Reports/Records	8 years
	LEGAL		RETENTION PERIOD
		Bill of Sale	Permanent
		Business Permits	Permanent
		Claims and Litigation (Torts and Breach of Contract)	Permanent
		Contracts-Employees	Permanent
		Contracts-Government	Permanent
		Contracts-Labor Union	Permanent
		Contracts-Special	Permanent
		Copyrights	Permanent
		Deeds/Titles	Permanent
		Lawsuits (any documentation)	7 years
		Leases/Canceled	10 years
		Legal Documents (wills, powers of attorney, etc.)	Permanent
		Legal Documents (old Versions)	Throw Out
		Licenses	Permanent
		Mortgages	Permanent
		Notes Receivable-Canceled	10 years
		Patents	Permanent
		Stock and Bond record	Permanent
		Trademarks-Registered	Permanent
	PAYROLL		RETENTION PERIOD
		Contractors	3 years from date of completion of contract
		Checks-Payroll	7 years
		Commission Reports-Salesperson	6 years
		Employee Withholding Exemption Certificates	10 years
		Employee Tip Substantiation	3 years
		Large food or Beverage Establishment Reporting Tips	3 years
		Payroll Register	4 years
		Payroll Records-After Termination	10 years
		Salary history	8 years
		Time Reports	7 years
		Vacation/Sick Pay	4 years
		W-2 Forms	Permanent
PURCHASING AND SALES			RETENTION PERIOD
		Purchase orders	3 years
		Requisitions	3 years
		Sales Contracts	3 years
		Sales Invoices	3 years
SECURITY			RETENTION PERIOD
		Classified Material Violations	Permanent
		Visitor Clearance	2 years
TAXATION			RETENTION PERIOD
		Tax Free Reorganization	Permanent
		338 Election	7 years
		Canceled Checks-Tax payments	Permanent
		Correspondence-Tax	Permanent
		Depreciation Schedules	Permanent
		Income Tax Returns	Permanent
		Inventory Reports	Permanent
		FUTA/FICA/Income Tax Withholding	4 years
		Payroll Tax Returns	Permanent
		Revenue Agent Reports	Permanent
		Sales Tax Returns	Permanent
		NOL Company	Permanent
		AMT NOL Company	Permanent
		Transfer Pricing	4 years
TRAFFIC-SHIPPING AND RECEIVING			RETENTION PERIOD
		Export Declarations	4 years
		Freight Bills	4 years
		Manifests	4 years
		Shipping and Receiving Reports	4 years
		Waybills and Bills of Lading	4 years
MISCELLANEOUS			RETENTION PERIOD
		Receiving Documents	10 years
		Title Papers	Permanent
		Vehicle Operating and Maintenance	2 years
		Telecommunication Copies	1 year
		Prepaid Dues Income	4 years
		Financial Institution Loan Loss Reserves	Permanent
		Mutual Savings Bank Bad Debt Reserve	Permanent

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