| RECORDS RETENTION SCHEDULE |
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Retention |
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Retention |
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Period |
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Period |
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| Accident reports/claims(settled cases) ....…… |
……..……....7 years |
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Magnetic tape and tab cards.....…….. |
…………..…4 |
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Accounts Pay. ledgers and schedules |
.....…….……7 years |
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Minute books of directors, |
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stockholders, bylaws, and charter......…… |
Permanently |
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| Accounts receivable ledgers and |
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| schedules……………………………… |
….....…….…7 years |
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Notes receivable ledgers and schedules... |
…....……..…7 years |
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| Audit reports.................…………. |
Permanently |
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Option records (expired)........……… |
……....…..…7 years |
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| Bank reconciliations……................ |
…....….........7 |
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Patents and related papers....………. |
Permanently |
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| Bank statements............………….. |
……..…......…7 |
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Payroll records and summaries.…….. |
…....……..…7 years |
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| Capital stock and bond records: ledgers, |
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Personnel files (terminated)………………… |
……....…..…7 years |
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| transfer registers, stubs showing |
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| issues, record of interest coupons, |
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Petty cash vouchers....……………… |
..………...7 years |
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| options, etc..........……………….. |
Permanently |
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Physical inventory tags............……… |
..…………....4 years |
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| Cash books.....………………….. |
Permanently |
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Plant cost ledgers.......……………… |
………......…7 years |
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| Charts of accounts……………….. |
Permanently |
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Property appraisals by outside party... |
Permanently |
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| Checks (canceled – see exception).. |
....………..…7 years |
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Property records, including costs, |
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| Checks (canceled for important |
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depreciation reserves, year-end trial |
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| payments, i.e. taxes, purchases of |
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balances, depreciation schedules, |
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| property, special contracts, etc. |
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blueprints, and plans...……………… |
Permanently |
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| Checks should be filed with the |
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| papers pertaining to the underlying |
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Purchase orders (except purchasing |
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| transaction.)…………………….…… |
Permanently |
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department copy)………………………… |
…..…………1 |
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| Contracts, mortgages, notes, and |
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Purchase orders (purchasing dept. |
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| leases (expired).........……………. |
…......………7 years |
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copy)……………………………………… |
……....…..…7 years |
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| leases (still in effect)….....................……………………… |
Permanently |
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Receiving sheets....…………………. |
………..……1 |
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| Correspondence (general)………………… |
…....…..……3 years |
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Retirement and pension records.......... |
Perrmanently |
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| Correspondence (legal and |
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| important matters only)……............ |
Permanently |
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Requisitions………………………………… |
…..…………1 |
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| Correspondence (routine) with |
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Sales commission reports..........……. |
..…....………4 years |
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| customers and/or vendors....……… |
..…....………3 years |
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Sales records...........……………….. |
………......…7 years |
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| Deeds, mortgages, and bills of sale.. |
Permanently |
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Scrap and salvage records |
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| Depreciation schedules…………… |
Permanently |
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inventories, sales, etc).............……… |
………..…....7 years |
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| Duplicate deposit slips.............…… |
......…………7 |
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Stenographers’ notes.................................. |
…………..…1 |
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| Employment applications.........…… |
..…....………3 years |
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Stock and bond certificates (canceled)……. |
………..…....7 years |
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| Expense analyses/expense |
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Stockroom withdrawal forms.............. |
………..……1 |
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| distribution schedules…………...... |
..……....……7 years |
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Subsidiary ledgers.............................. |
………......…7 years |
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| Financial statements (year-end, |
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| other optional)........………………. |
Permanently |
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Tax returns and worksheets, revenue |
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agents’ reports, and other documents |
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| Garnishments……………………………. |
…......………7 years |
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relating to determination of income |
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tax liability……………………......... |
Permanently |
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| General/private ledgers, year-end |
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| trial balance…………………….... |
Permanently |
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Time books / cards….................. |
....………..…7 years |
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| Insurance policies (expired)……………… |
......…………4 years |
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Trademark registrations and |
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copyrights………………………………. |
Permanently |
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| Insurance records, current accident |
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| reports, claims, policies, etc…………. |
Permanently |
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Training manuals.........……………… |
Permanently |
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| Internal audit reports (longer |
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Union agreements........…………….. |
Permanently |
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| retention periods may be desirable).. |
…....…..……4 years |
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Voucher register and schedules..……. |
…....……..…7 years |
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| Internal reports (miscellaneous)..…. |
……......……4 years |
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Vouchers for payments to vendors, |
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| Inventories of products, materials, and |
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employees, etc. (includes allowances |
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| supplies………………………………. |
………......…7 years |
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and reimbursement of employees, |
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officers, etc., for travel and |
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| Invoices (to customers, from vendors) |
………..…....7 years |
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entertainment expenses).....…………. |
……....…..…7 years |
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| Journals…………………………………. |
Permanently |
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Withholding tax statements.....……… |
………......…7 years |
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