Sample Records Retention Schedule
** Disclaimer: This Sample Retention Schedule is intended for general information and should not be used without consulting your legal or accounting professional.
| Record Type | Retention Period ** |
|---|---|
| Accident reports and claims (settled cases) | 7 |
| Accounts payable ledgers and schedules | 7 |
| Accounts receivable ledgers and schedules | 7 |
| Audit reports of accountants | permanently |
| Bank reconciliation | 2 |
| Capital stock and bond records; ledgers, transfer registers, stubs showing issues, record of interest coupons, options, etc.. | permanently |
| Cash books | permanently |
| Chart of Accounts | permanently |
| Checks (canceled but see exception below) | 7 |
| Checks; canceled for important payments, i.e. taxes, purchases of property, special contracts, etc.. | permanently |
| Contracts and leases (expired) | 7 |
| Contracts and leases still in effect | permanently |
| Correspondence (general) | 3 |
| Correspondence (legal and important matters only) | permanently |
| Correspondence (routine) with customers and vendors | 2 |
| Deeds, mortgages, and bills of sale | permanently |
| Depreciation schedule | permanently |
| Duplicate deposit slips | 1 |
| Employee personnel records (after termination) | 3 |
| Employment applications | 3 |
| Expense analyses and expense distribution schedules | 7 |
| Financial statements (end of yr. other months optional) | permanently |
| General and private ledgers (and end of yr. trial balances) | permanently |
| Insurance policies (expired) | 3 |
| "Insurance records, current accident reports, claims, policies" | permanently |
| Internal audit reports | 3 |
| Internal reports (misc. 3 | |
| Inventories of products, materials, and supplies | 7 |
| Invoices from vendors | 7 |
| Invoices to customers | 7 |
| Journals | permanently |
| Minute bks of directors and stockholders | permanently |
| Notes receivable ledgers and schedules | 7 |
| Option records (expired) | 7 |
| Payroll records and summaries, including payments to pensioners | 7 |
| Petty cash vouchers | 3 |
| Physical inventory tags | 3 |
| Plant cost ledgers | 7 |
| 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 dept copy) | 1 |
| Purchasing orders (purchasing dept copy) | 7 |
| Receiving sheets | 1 |
| Requisitions | 1 |
| Sales Records | 7 |
| Savings bond registration records of employees | 3 |
| Scrap and salvage records (inventories, sales etc) | 7 |
| Stenographers notebooks | 1 |
| Stock and bond certificates (canceled) | 7 |
| Subsidiary ledgers | 7 |
| Tax returns and worksheets, revenue agents reports and other documents relating to determination of income tax liability | permanently |
| Time books | 7 |
| Trade mark registrations | permanently |
| Voucher register and schedules | 7 |
| Vouchers for payments to vendors, employees, etc.. (includes allowances and reimbursement of employees, officers, etc.. for travel and entertainment expenses) | permanently |
** Disclaimer: This Sample Retention Schedule is intended for general information and should not be used without consulting your legal or accounting professional.