Document Retention Schedule

1. Correspondence with Customers and Vendors
2. Duplicate Deposit Slips
3. Purchase Orders (other than Purchasing Department copy)
4. Receiving Sheets
5. Requisitions
6. Stenographer’s Notebooks
7. Stockroom Withdrawal Forms

1. Bank Statements and Reconciliation
2. Employee Personnel Records (after termination)
3. Employment Applications
4. Expired Insurance Policies
5. General Correspondence
6. Internal Audit Reports
7. Internal Reports
8. Petty Cash Vouchers
9. Physical Inventory Tags
10. Savings Bond Registration Records of Employees
11. Time Cards For Hourly Employees

1. Accident Reports, Claims
2. Accounts Payable Ledgers and Schedules
3. Accounts Receivable Ledgers and Schedules
4. Cancelled Checks
5. Cancelled Stock and Bond Certificates
6. Employment Tax Records
7. Expense Analysis and Expense Distribution Schedules
8. Expired Contracts, Leases
9. Expired Option Records
10. Inventories of Products, Materials, Supplies
11. Invoices to Customers
12. Notes Receivable Ledgers, Schedules
13. Payroll Records and Summaries, including payment to pensioners
14. Plant Cost Ledgers
15. Purchasing Department Copies of Purchase Orders
16. Sales Records
17. Subsidiary Ledgers
18. Time Books
19. Travel and Entertainment Records
20. Vouchers for Payments to Vendors, Employees, etc.
21. Voucher Register, Schedules

While federal guidelines do not require you to keep tax records “forever,” in many cases there will be other reasons you’ll want to retain these documents indefinitely.

1. Audit Reports from CPAs/Accountants
2. Cancelled Checks for Important Payments (especially tax payments)
3. Cash Books, Charts of Accounts
4. Contracts, Leases Currently in Effect
5. Corporate Documents (incorporation, charter, by-laws, etc.)
6. Documents substantiating fixed asset additions
7. Deeds
8. Depreciation Schedules
9. Financial Statements (Year End)
10. General and Private Ledgers, Year End Trial Balances
11. Insurance Records, Current Accident Reports, Claims, Policies
12. Investment Trade Confirmations
13. IRS Revenue Agents’ Reports
14. Journals
15. Legal Records, Correspondence and Other Important Matters
16. Minutes Books of Directors and Stockholders
17. Mortgages, Bills of Sale
18. Property Appraisals by Outside Appraisers
19. Property Records
20. Retirement and Pension Records
21. Tax Returns and Worksheets
22. Trademark and Patent Registrations

While it’s important to keep year-end mutual fund and IRA contribution statements forever, you don’t have to save monthly and quarterly statements once the year-end statement has arrived.

1. Credit Card Statements
2. Medical Bills (in case of insurance disputes)
3. Utility Records
4. Expired Insurance Policies

1. Supporting Documents For Tax Returns
2. Accident Reports and Claims
3. Medical Bills (if tax-related)
4. Property Records / Improvement Receipts
5. Sales Receipts
6. Wage Garnishments
7. Other Tax-Related Bills

1. CPA Audit Reports
2. Legal Records
3. Important Correspondence
4. Income Tax Returns
5. Income Tax Payment Checks
6. Investment Trade Confirmations
7. Retirement and Pension Records

1. Car Records (keep until the car is sold)
2. Credit Card Receipts (keep until verified on your statement)
3. Insurance Policies (keep for the life of the policy)
4. Mortgages / Deeds / Leases (keep 6 years beyond the agreement)
5. Pay Stubs (keep until reconciled with your W-2)
6. Property Records / improvement receipts (keep until property sold)
7. Sales Receipts (keep for life of the warranty)
8. Stock and Bond Records (keep for 6 years beyond selling)
9. Warranties and Instructions (keep for the life of the product)
10. Other Bills (keep until payment is verified on the next bill)
11. Depreciation Schedules and Other Capital Asset Records (keep for 3 years after the tax life of the asset)