| 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 |
| Cafeteria Plan |
7 years |
| 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 - see exception below) |
3 years |
| Checks (canceled 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 |
| Contracts, mortgages, notes and leases |
7 years |
| Correspondence (general) |
2 years |
| Correspondence (legal and important matters only |
Permanently |
| Depreciation schedules |
Permanently |
| Duplicate deposit slips |
2 years |
| Employment applications |
3 years |
| Expense analyses/expense distribution schedules |
3 years |
| Financial statements (year-end) |
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 |
| 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 |
5 years |
| Invoice from vendors |
3 years |
| Journals |
Permanently |
| Minute books of directors, stockholders, bylaws, and charter |
Permanently |
| Notes receivable ledgers and schedules |
3 years |
| Payroll records and summaries |
7 years |
| Personnel files (terminated) |
7 years |
| Petty cash vouchers |
3 years |
| Physical inventory tags |
3 years |
| Property appraisals by outside appraisers |
Permanently |
| Property records, including costs, depreciation reserves, year-end trial balances, depreciation schedules, |
Permanently |
| Purchase orders |
3 years |
| Retirement and pension records |
Permanently |
| Sales commission reports |
3 years |
| Sales records |
3 years |
| Scrap and salvage records (inventories, sales, etc.) |
7 years |
| Stock and bond certificates (canceled) |
7 years |
| Subsidiary ledgers |
7 years |
| Tax returns and worksheets, revenue agents' reports, and other documents relating to determination |
Permanently |
| Time books/cards |
7 years |
| Trademark registrations and copyrights |
Permanently |
| Training manuals |
Permanently |
| Voucher register and schedules |
3 years |
| Vouchers for payments to vendors, employees, etc. (includes allowances and reimbursement of employees, officers, etc. for travel and entertainment expenses) |
3 years |
| Withholding tax statements |
7 years |
| Work In Process reports |
5 years |
