Description |
Retention Period
in years*
|
|
|
Accounting Records |
|
General ledger |
Permanent
|
Accounts Receivable |
10 (3 in office; 7 in
storage)
|
Accounts payable |
10 (3 in office; 7 in
storage)
|
Clients' invoices |
7
|
Payroll records
(journals,
ledgers, W-2s, 940s,
941s,
etc.) |
|
|
Permanent
|
Data transmittal (in central
processing system) |
7
|
Expense reports |
7
|
Time reports |
7
|
Other charges to clients’
voucher |
7
|
Bill draft |
7
|
Voucher check copies |
7
|
Canceled checks, bank
statements, and deposit
slips |
10 (3 in office; 7 in
storage)
|
Journal voucher |
Permanent
|
Interoffice client charges |
7
|
Client coding form-masters |
1 + current
|
Payroll data and authorization |
7
|
Correspondence |
1 + current
|
Cash receipts and
disbursements journals |
Permanent
|
Billed accounts receivable
aged trial balance |
7
|
Client unbilled receivables
ledger |
7
|
Unbilled accounts
receivable
status |
7
|
Employee time analysis |
7
|
Analysis of billing adjustments |
7
|
Client charges and billing
report termination) |
7
|
Analysis of gross and-net
fees
by service classification |
7
|
Depreciation schedules |
Permanent
|
Accident reports
and claims |
6 (after accident
or settlement)
|
|
|
Description
|
Retention period
in years*
|
Accounting Records |
|
Partnership or corporate
records, including
local, state
and federal
licenses, annual
reports, capital
stock and
bond ledger, canceled
stock
and bond certificates,
articles
of incorporation,
bylaws and
minutes from partner
meetings
or stockholder and
director
meetings |
Permanent
|
Legal correspondence,
including those
pertaining to
copyrights,
permits, and bills
of sale |
Permanent
|
Equipment records |
5 (after disposition)
|
Warranties and service agreements |
1 (after expiration)
|
User’s manuals |
(until disposition)
|
Insurance documents,
including policies,
reports,
claims, and coverage
information |
3-10 (after expiration
or settlement)
|
Leases and contracts |
10 (after termination)
|
Property records, including
blueprints, appraisals,
and
permits |
Permanent
|
|
Description
|
Retention period
in years*
|
|
|
Annual Financial Reports |
|
Firm tax returns, annual
statements,
and work
papers- operating
offices and
consolidated |
Permanent
|
Monthly of Periodic
Financial Reports |
|
Other periodic financial
reports |
3
|
Supplemental Accounting
Data |
|
Daily cash reports, remittance
advices, and bank
deposit
slips |
1
|
Vendors’ invoices and petty
cash slips |
7
|
Current Legal Documents |
|
Partnership agreements or
corporate documents |
Permanent
|
Special contracts |
Permanent
|
Noncurrent Legal
documents |
|
Partnership agreements or
corporate documents
-
superseded |
Permanent
|
Personnel: Post-Employment |
|
Counseling records |
7 (after termination)
|
Disability benefits |
6 (after expiration/settlement)
|
Discrimination charges |
3-4 (after settlement)
|
Education, training, and
CPE records |
7 (after termination)
|
Employee contracts |
7 (after termination)
|
Employee medical history |
6 (after termination)
|
INS 1-9 forms. Complies
with Immigration Reform
&
Control Act |
3 from date of filing
or 1 year after termination, whichever is longer
|
Performance reviews |
7 (after termination)
|
Personnel data, applications,
and contracts-present
employees |
Permanent
|
|
|
|
|
Description
|
Retention period
in years*
|
Personnel: Post-Employment |
|
Personnel data, applications,
and contracts-former
employees |
7 (after termination)
|
Salary rates and changes |
3 (after termination)
|
Personnel: Pre-Employment |
|
Position applications,
resumes, tests,
or other job
advertisements
and replies
relating to employees |
7 (after termination)
|
Position applications, resumes
or other job advertisements
and replies
relating to
non-employees |
1 (after completion)
|
Promotion, demotion, layoff,
or discharge of an
employee |
7 (after completion)
|
Miscellaneous |
|
Firm meetings files (annual
and special meetings) |
7
|
Attendance records |
7 (after termination)
|
New business reports |
7
|
Interoffice correspondence |
7
|
Bulletins to clients, firm
executives,
and staff |
7
|
Firm publications, including
promotional
and recruiting
brochures, personnel
guide,
and client newsletter |
7
|
|