Accident reports/claims (settled cases) 7 years
Accounts payable ledgers & schedules 7 years
Accounts receivable ledgers & schedules 7 years
Audit reports Keep Permanently
Bank reconciliations 2 years
Bank statements 3 years
Capital stock & bond records: ledgers, transfer registers, stubs showing issues, record of interest coupons, options, etc. Keep Permanently
Cash books Keep Permanently
Charts of accounts Keep 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 the papers pertaining to the underlying transaction.) Keep Permanently
Contracts, mortgages, notes, & leases (expired) 7 years
Contracts, mortgages, notes, & leases (still in effect) Keep Permanently
Correspondence (general) 2 years
Correspondence (legal & important matters only) Keep Permanently
Correspondence (routine) with customers and/or vendors 2 years
Deeds, mortgages, & bills of sale Keep Permanently
Depreciation schedules Keep Permanently
Duplicate deposit slips 2 years
Employment applications 3 years
Expense analyses/expense distribution schedules 7 years
Financial statements (year-end, other optional) Keep Permanently
Garnishments 7 years
General/private ledgers, year-end trial balance Keep Permanently
Insurance policies (expired) 3 years
Insurance records, current accident reports, claims, policies, etc Keep 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 Keep Permanently
Minute books of directors, stockholders, bylaws, and charter Keep Permanently
Notes receivable ledgers & schedules 7 years
Option records (expired) 7 years
Patents & related papers Keep Permanently
Payroll records & 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 by outside appraisers Keep Permanently
Property records, including costs, depreciation reserves, year-end trial balances, depreciation schedules, blueprints, & plans Keep Permanently
Purchase orders (except purchasing department copy) 1 year
Purchase orders (purchasing department copy) 7 years
Receiving sheets 1 year
Retirement & pension records Keep Permanently
Requisitions 1 year
Sales commission reports 3 years
Sales records 7 years
Scrap & salvage records (inventories, sales, etc.) 7 years
Stenographers’ notebooks 1 year
Stocks & bonds certificates (canceled) 7 years
Stockroom withdrawal forms 1 year
Subsidiary ledgers 7 years
Tax returns & worksheets, revenue agents’ reports, and other documents relating to determination of income tax Keep Permanently
Time books/cards 7 years
Trademark registrations and copyrights Keep Permanently
Training manuals Keep Permanently
Union agreements Keep Permanently
Voucher register & 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 years