Description of Record |
Retention Period |
Commences As Of …. |
|
|
|
Accident reports |
6 years |
Later of (a) final resolution of claims/investigations, if any, or (b) filing date of last tax return for years where company books were affected by accident. |
Accounts Payable ledgers & schedules |
6 years |
Filing date of tax return for that year. |
Audit, review, or compilation reports of accountants |
Permanently |
N/A |
Bank Reconciliation |
1 year |
End of tax year |
|
10 years |
After date goods received & sold. |
Cash books, cash receipts |
6 years |
End of tax year |
Charts of Accounts |
Permanently |
N/A |
Checks, cancelled |
10 years |
End of year in which check clears; Permanently for copies of checks for important payments |
Claims register, or other record system that proves whether a claim was received or not. |
10 years |
After last year covered by particular register or group of records |
Construction contracts, blueprints, plans, occupancy permits, environmental remediation papers |
Permanently |
N/A |
Credit applications & all related documents where no sale made. |
5 years (recommended) 25 months (mandatory) |
After year in which credit application completed. |
Corporate, LLC, or partnership stock or ownership records: stock ledgers, transfer registers, stubs showing stock issues, records of options, etc |
Permanently |
N/A |
Correspondence, general |
4 years |
Later of year written or year in which any issues relating to the correspondence are resolved. |
Credit Memos |
6 years |
After year issued. |
Customer files, deal jackets, vehicle contracts & leases, service contracts. |
10 years (recommended) 7 years (mandatory) |
After year of maturity of customer's lease, contract, or extended warranty, whichever comes last. |
Daily operating control |
Permanently |
N/A |
Data collected when originating motor vehicle ignition keys |
2 years |
After key is made. |
Deeds, mortgages, bills of sale |
Permanently |
N/A |
DMV, BAR, & other business licenses & related correspondence |
Permanently |
N/A |
Duplicate deposit slips |
10 years |
After end of year in which deposit reconciled |
Employment applications, personnel files |
Permanently |
After end of year in which employment terminated, permanently if any dispute involved. |
Environmental testing, compliance, or remediation paperwork |
Permanently |
N/A |
Expense analysis, expense distribution schedules |
6 years |
After year in which reports created. |
Facilities tests & resulting documents for health, safety, disability, or other laws |
Permanently |
N/A |
Unsolicited fax compliance materials (written consent to fax) |
Permanently |
N/A |
Financial Statements |
Permanently |
N/A |
Fixed Asset contracts & equipment leases & correspondence |
6 years |
After later of year in which contract (or warranty) expires or year final tax return filed taking depreciation or expense deduction. |
Fixed Asset records & depreciation schedules |
Permanently |
N/A |
Form 8300 filings |
Permanently |
N/A |
Franchise agreements, dealer agreements |
Permanently |
N/A |
Garnishment records |
6 years |
After year in which garnishment is completed. |
General Ledgers |
Permanently |
N/A |
Government contracts |
Permanently |
N/A |
Insurance policies, general liability, garage keepers, E&O, D&O & correspondence |
Permanently |
N/A |
Insurance policies, single vehicle |
6 years |
After disposition of vehicle |
Internal Audit reports |
6 years |
After completion of internal audit (copies should be included in accountant's audit, review, or compilation report file). |
Inventory Records |
6 years |
After end of year in which inventory completed. |
Invoices from vendors |
10 years |
After end of fiscal year |
Invoices for vehicles |
Permanently |
N/A |
Journals, original |
Permanently |
N/A |
Lawsuit files |
Permanently |
N/A |
Minute books |
Permanently |
N/A |
Notes receivable schedules |
8 years |
After year in which all notes on schedule are paid in full |
Odometer disclosures (including disclosures on title) |
Permanently 5 years (mandatory) |
After disclosure given or received |
Parts sales slips |
6 years |
After year sold |
Payroll records, withholding tax records & worksheets |
10 years |
After year prepared |
Petty cash vouchers |
3 years |
After year prepared |
Purchase orders |
10 years |
After year issued. |
Receiving sheets |
4 years |
After year received |
Repair order check sheets |
4 years |
After year work completed. |
Repair orders, office copy & hard copy |
6 years |
After repairs completed. |
Report of sales books |
8 years |
After year in which book closed. |
Retirement & pension records |
Permanently |
N/A |
Safety reports, Cal/OSHA & otherwise |
10 years |
After date of incident or inspection. |
Sales commission reports |
Permanently |
N/A |
Scrap & salvage, records of disposition, non-toxic |
4 years |
After year of disposal. |
Service contracts, extended warranties |
10 years |
After year of maturity of customer's lease, contract, or extended warranty, whichever comes last. |
Stenographers' or typists' notebooks or raw notes |
1 year |
After current year. |
Tax elections (such as LIFO or S Corporation status) |
Permanently |
N/A |
Tax Returns |
Permanently |
N/A |
Telemarketing compliance materials (internal do-not-call records, national do-not-call downloads, etc.) |
9 years |
After year in which prepared or obtained. |
Timebooks, cards, flagsheets |
10 years |
After year prepared. |
Toxic materials, waste oil, record of proper disposition |
Permanently |
N/A |
Trade name, trademark, or patent registrations |
Permanently |
N/A |
Training Manuals |
4 years |
After year manual completely discontinued or replaced (retain permanently if a copy is not available from other sources.) |
Trial balances & schedules |
6 years |
After year final return filed for period covered. |
Union agreements |
Permanently |
N/A |
Vehicle registration correspondence |
6 years |
After current year. |
Vouchers for payments to vendors, employees (e.g., expense, T & E) |
6 years |
After year final return filed expensing these items. |
