| Accident reports/
claims (settled cases) |
7 years |
| Accounts payable
ledgers and schedules |
7 years |
| Accounts receivable
ledgers and schedules |
7 years |
| Audit reports |
Permanently |
| Bank
reconciliations |
2 years |
| Bank statements |
3 years |
| Capital stock and
bond records: ledgers, transfer registers, stubs showing issues, records of
interest coupons, etc. |
Permanently |
| Cash books |
Permanently |
| Charts of accounts |
Permanently |
| Checks (canceled –
see exception below) |
7 years |
| Checks (canceled
for important payments, i.e. taxes, purchases of property, special
contracts, etc. Checks should be filed with papers pertaining to the
underlying transaction |
Permanently |
| Internal audit
reports (longer retention periods may be desirable) |
3 years |
| Internal reports
(miscellaneous) |
3 years |
| Inventories of
products, materials and supplies |
7 years |
| Invoices (to
customers, from vendors) |
7 years |
| Journals |
Permanently |
| Magnetic tape and
tab cards |
1 year |
| Minute books or
directors, stockholders, bylaws and charter |
Permanently |
| Notes receivable
ledgers and schedules |
7 years |
| Option records
(expired) |
7 years |
| Patents and related
papers |
Permanently |
| Payroll records and
summaries |
7 years |
| Personnel files
(terminated) |
7 years |
| Petty cash vouchers |
3 years |
| Physical inventory
tags |
3 years |
| Plant cost ledgers |
7 years |
| Property
appraisals/outside appraisers |
Permanently |
| Property records,
including costs, depreciation reserves, year-end trail balances,
depreciation schedules, blueprints, and plans |
Permanently |
| Contracts,
mortgages, notes and leases (expired) |
7 years |
| (still in effect) |
Permanently |
| Correspondence
(legal and important matters only) |
Permanently |
| Correspondence
(routine) with customers and/or venders |
2 years |
| Deeds, mortgages,
and bills of sale |
Permanently |
| Depreciation
Schedules |
7 years |
| Duplicate deposit
slips |
2 years |
| Employment
applications |
3 years |
| Expense
analyses/expense distribution schedules |
7 years |
| Financial
statements (year-end, other optional) |
Permanently |
| Garnishments |
7 years |
| General / private
ledgers, year-end trial balance |
Permanently |
| Insurance policies
(expired) |
3 years |
| Insurance records,
current accident reports, claims, policies, etc. |
Permanently |
| Purchase order
(except purchasing department copy) |
1 year |
| Purchase orders
(purchasing dept. copy) |
7 years |
| Receiving sheets |
1 year |
| Retirement and
pension records |
Permanently |
| Requisitions |
1 year |
| Sales commission
reports |
3 years |
| Sales records |
7 years |
| Scrap and salvage
records (inventories, sales, etc.) |
7 years |
| Stenographers’
notebooks |
1 year |
| Stock and bond
certificates (cancelled) |
7 years |
| Stockroom
withdrawal forms |
1 year |
| Subsidiary ledgers |
7 years |
| Tax returns and
worksheets, revenue agents’ reports, and other documents relating to
determinations of income tax liability |
Permanently |
| Time books / cards |
7 years |
| Trademark
registrations & copyrights |
Permanently |
| Training manuals |
Permanently |
| Union agreements |
Permanently |
| Voucher register
and schedules |
7 years |
| Vouchers for
payments to vendors, employees, etc. ( includes allowances and reimbursement
of employees, officers, etc. for travel and entertainment expenses) |
7 years |
| Withholding tax
statements |
7 year |
