Record Retention Guidelines BUSINESS RECORDS Type of Record Articles of Incorporation Bylaws Capital Stock and Bond Records

Contracts & Agreements (govt construction, partnership, employment, labor, etc.) Copyrights and Trademark Registration Legal Correspondence Minutes Mortgages and Note Agreements Patents Personnel Files

Retention Period (Yrs) Permanent Permanent Permanent Permanent Permanent Permanent Permanent 6 Permanent 4

ACCOUNTING Type of Record Accounts Charged Off Accounts Payable Ledger Accounts Receivable Accounts Receivable Ledger Balance Sheets Bank Deposit/Receipts Bank Statements Billings Bonds Budget Projections Capital Assets Cash Receipts Cash Sales Receipts Charge Receipts Check Register Checks Canceled, Payroll Checks Canceled Correspondence, Accounting Cost Accounting Customer Ledger Customer Research Drafts Earnings Register Expense Reports

Retention Period (Yrs) 7 Permanent 10 7 4 5 5 4 Permanent 3 3 7 3 10 Permanent 7 5 5 6 Permanent 3 8 3 5

ACCOUNTING (Continued) Financial Statements, Annual Financial Statements, Certified General Ledger Notes, Canceled Payroll Register Petty Cash Register Profit & Loss Statement Stock Ledger Stockholder Correspondence Trial Balance Sheets Uncollectable Accounts

3 Permanent Permanent 10 5 2 Permanent Permanent 6 Permanent 7

ADMINISTRATIVE Type of Record Accident/Injury Reports Advertising Affirmative Action Annual Reports to Stockholders Audit Reports Automobile Expense Reports Correspondence, Accounting Correspondence, Advertising Correspondence, Credit Collection Correspondence, General Correspondence, Sales & Service Credit Records, Customer Forms Management Leasing Records Marketing Plans

Retention Period (Yrs) 11 After Separation 5 5 Permanent Permanent 3 5 3 7 3 5 After completion of contract Until Superseded 5 3

COMMUNICATIONS Type of Record Facsimile Reports Postal Reports, Stamp Requisitions Registered/Insured Mail Logs Telephone Records Installation, Lease, Etc Wiring Schematics, Drawings

Retention Period (Yrs) 1 1 2 Permanent Permanent

CORPORATE Type of Record Annual Reports Authority to Issue Securities Bonds, Securities Capital Stock Certificates Charters, Constitution, Bylaws Contracts, Employee Contracts, Vendor Dividend Checks Easements Elections Records (Corporate) Licenses, (Fed., State & Local) Permits, Business & Construction Press Release Retention Period (Yrs) Permanent Permanent 7 Permanent Permanent Permanent 10 10 Permanent 10 Permanent Permanent 3

GENERAL FINANCIAL RECORDS Type of Record Retention Period (Yrs) Auditors Reports Permanent Bank Debt Deduction 7 Bank Deposit Slips, Reconciliations, Statements 4 Bills of Lading 4 Budgets 2 Checks-Canceled 4 Contracts-Purchase and Sales 4 After Completion of Contract Credit Memos 4 Depreciation Records 4 After Completion of Contract Employee Expense Reports 4 Employee Payroll Records (W-2, W-4, annual earnings, etc.) 6 After Termination Financial Statements-Annual Permanent Financial Statements-Interim 4 Freight Bills 4 Internal Reports (work order, sales & productions reports) 4 Inventory Lists 4 Invoices-Sales & Cash Register Receipts, Merchandise Purchases 4 Invoices-Purchases (permanent assets) 4 After Completion of Contract General Ledger Permanent

INSURANCE RECORDS Type of Record Accident Reports Fire Inspection Reports Group Disability Records Insurance Policies Safety Records Settled Insurance Claims Minutes Mortgages and Note Agreements Patents Personnel Files

Retention Period (Yrs) 6 6 6 6 After Termination 6 4 After Completion of Contract Permanent 6 Permanent 4

LEGAL Type of Record Affidavits Charters, Bylaws Claims/Litigation Copyrights Law Records Mortgages Patents & Trademarks Retention Period (Yrs) 10 Permanent Permanent Permanent Until Superseded Permanent Permanent

MANUFACTURING Type of Record Bills of Lading Blueprints/Architectural Drawings Correspondence, (Mechanical & Eng.) Drawings and Tracings Inspection Records Inventory Records Operations Reports Order Register Quality Control Reports Specifications Stores Issues Reports Tool Control Work Order

Retention Period (Yrs) 5 Permanent 10 Permanent 3 10 10 6 5 Permanent 3 5 5

PENSION/PROFIT SHARING RECORDS Type of Record Retention Period (Yrs) Actuarial Reports Permanent Associated Ledgers and Journals Permanent Financial Statements Permanent IRS Approval Letter Permanent Plan and Trust Agreement Permanent

PERSONNEL Type of Record Accident Reports Applications Attendance Employee Contracts Daily Time Reports Disability Records Earnings Records File, Individual Employee Insurance Records Injury Reports (Frequency) Job Descriptions Medical Folders Pension Plan Salesman Automobile Records Salesman Expense Accounts Time Cards Workers Compensation Records

Retention Period (Yrs) 11 After Separation 3 6 5 After Termination 5 8 Permanent 3 After Termination 6 Permanent Until Superseded 5 Permanent 2 4 4 10

PROPERTY/FACILITIES Type of Record Appraisals Damage Reports Deeds, Titles Depreciation Schedules Maintenance, Building Plans, Blueprints, Drawings Purchase/Lease Records Space Allocation Records Taxes

Retention Period (Yrs) Permanent 7 Permanent 3 10 Permanent 5 2 Permanent

PURCHASING Type of Record Bids, Awards Contracts Correspondence Purchase Orders Quotations Receiving Reports Service Agreements

Retention Period (Yrs) 3 5 5 3 After Completion of Contract 3 6 3 After Completion of Contract

SALES AND MARKETING Type of Record Retention Period (Yrs) Business Plans 3 Claims 5 Contracts, Customer 5 Credit Ratings 5 After Completion of Contract Correspondence 3 Discount Rates 5 Guarantees, Warranties 6 Invoices 6 Mailing & Prospect Lists 2 Market Studies Permanent Marketing Surveys 5 Price Lists/Catalogs Until Superseded Sales Brochures Until Superseded Tax Exempt Forms 3 After Completion of Contract

TAX RECORDS
There is no limit for returns that are filed fraudulently or that substantially underreport income.

Type of Record Retention Period (Yrs) Tax Returns and Cancelled Checks (federal, state and local) Permanent Sales and Use Tax Returns Permanent Payroll Tax Returns Permanent Pension/Profit-Sharing Informational Returns Permanent All retention periods begin with the date the return was filed. If the statute of limitations concerning a tax year is extended, the retention period should be extended accordingly.

TRANSPORTATION AND VEHICLES Type of Record Retention Period (Yrs) Aircraft Operating & Maintenance Permanent Bills of Lading 5 Employee Travel 2 Freight Bills 5 Freight Claims 5 Household Moves 6 Leases 6 Manifests 2 Receiving Documents 5 Routing Records 1 Tonnage Summaries Permanent Vehicle Operation and Maintenance 3