RECORD RETENTION GUIDE

Accident reports and claims
(settled cases).........................................7 yrs.
Accounts payable ledgers and
schedules................................................7 yrs.
Audit reports of accountants...........Permanently
Bank reconciliations...................................3 yrs.
Bank statements & deposit slips................6 yrs.
Building permits........................................20 yrs.
Capital stock and bond records; ledgers,
transfer registers, stubs showing issues,
record of interest coupons
options, etc...................................Permanently
Cash books.....................................Permanently
Charts of accounts..........................Permanently
Checks
(cancelled but see exception below).......7 yrs.
Checks (cancelled for important
payments, i.e. taxes, purchases of
property, special contracts, etc. (checks
should be filed with the papers pertaining
to the underlying transaction).......Permanently
Computer data............................................3 yrs.
Contracts and leases (expired)..................7 yrs.
Contracts and leases
still in effect..................................Permanently
Correspondence (routine) with
customers or vendors..............................2 yrs.
Correspondence (general).........................3 yrs.
Correspondence (legal and important
matters only)................................Permanently
Deeds, mortgages,
and bills of sale............................Permanently
Depreciation schedules...................Permanently
Donations...................................................7 yrs.
Duplicate deposit slips................................3 yrs.
Employee personnel records (after
termination).............................................6 yrs.

Employment applications...........................3 yrs.
Expense analyses and expense
distribution schedules..............................7 yrs.
Financial statements (end-of-year,
other months optional).................Permanently
General and private ledgers (and
end-of-year trial balances)...........Permanently
Insurance policies (expired).......................4 yrs.
Insurance records, current accident
reports, claims, policies, etc.........Permanently
Internal audit reports (in some
situations, longer retention
periods may be desirable).......................3 yrs.
Internal reports (miscellaneous).................3 yrs.
Inventories of products, materials
and supplies............................................7 yrs.
Invoices to customers.................................7 yrs.

Invoices from vendors................................7 yrs.
Journals..........................................Permanently
Licenses..........................................Permanently
Minute books of directors and
stock-holders, including by-laws
and charter...................................Permanently
Notes receivable ledgers
and schedules.........................................7 yrs.
Option records (expired).............................7 yrs.
Payroll records and summaries,
including payments to pensioners...........7 yrs.
Petty cash vouchers...................................3 yrs.
Physical inventory tags...............................3 yrs.
Plant cost ledgers.......................................7 yrs.
Property appraisals by
outside appraisers........................Permanently
Property records-including costs,
depreciation reserves, end-of-year
trial balances, depreciation schedules,
blueprints and plans.....................Permanently

Purchase orders (except purchasing
department copy)....................................3 yrs.
Purchase orders (purchasing
department copy)....................................7 yrs.
Receiving sheets........................................4 yrs.
Requisitions................................................3 yrs.
Retirement plan records..................Permanently
Safety records............................................6 yrs.
Sales records.............................................7 yrs.
Savings bond registration records
of employees...........................................3 yrs.
Scrap and salvage records (inventories,
sales, etc.)...............................................7 yrs.
Stenographer’s notebooks.........................2 yrs.
Stock and bond certificates (cancelled)......7 yrs.
Stockroom withdrawal forms......................3 yrs.
Subsidiary ledgers......................................7 yrs.
Tax returns and worksheets, revenue
agents’ reports and other documents
relating to determination of
income liability..............................Permanently
Time books.................................................7 yrs.
Trademark registrations..................Permanently
Voucher register and schedules.................7 yrs.
Vouchers for payments to vendors,
employees, etc. (includes
allowances and reimbursement of
employees, officers, etc., for travel
and entertainment expenses...................7 yrs.
Withholding tax statements........................7 yrs.
Wage garnishments...................................7 yrs.
Workers comp reports..............................10 yrs.

The retention periods listed are intended as a
general guideline only. If you have any
questions about destroying any tax or
accounting records, please contact us.