Click here to download a Printable PDF of these Guidelines Adobe Acrobat required to view file. Click here to get Acrobat. Retention Period Accident reports and claims (settled cases). 7 yrs. Accounts payable ledgers and schedules 7 yrs. Accounts receivable ledgers and schedules 7 yrs. Audit reports of accountants Permanently Bank reconciliations 1 yr. Capital stock and bond records; ledgers, transfer registers, stubs showing issues, record of interest coupons, options, etc Permanently Cash books Permanently Charts of accounts Permanently Checks (cancelled but see exception below) 7 yrs. Checks (cancelled 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 and leases (expired) 7 yrs. Contracts and leases still in effect Permanently Correspondence (routine) with customers or vendors 1 yr. Correspondence (general) 3 yrs. Correspondence (legal and important matters only) Permanently Deeds, mortgages, and bills of sale Permanently Depreciation schedules Permanently Duplicate deposit slips 1 yr. Employee personnel records (after termination) 3 yrs. Employment applications 3 yrs. Expense analyses and expense distribution schedules 7 yrs. Financial statements (end-of-year, other months optional) Permanently General and private ledgers (and end-of-year trial balances Permanently Insurance policies (expired) 3 yrs. Insurance records, current accident reports, claims, policies, etc. Permanently Internal audit reports (in some situations, longer retention periods may be desirable) 3 yrs. Internal reports (miscellaneous) 3 yrs. Inventories of products, materials, and supplies 7 yrs. Invoices to customers 7 yrs. Invoices from vendors 7 yrs. Journals Permanently Minute books of directors and stockholders, including by-laws and charter Permanently Notes receivable ledgers and schedules 7 yrs. Option records (expired) 7 yrs. Payroll records and summaries, including payments to pensioners 7 yrs. Petty cash vouchers 3 yrs. Physical inventory tags 3 yrs. Plant cost ledgers 7 yrs. Property appraisals by outside appraisers Permanently Property records-including costs, depreciation reserves, end-of-year trial balances, depreciation schedules, blueprints and plans Permanently Purchase orders (except purchasing department copy) 1 yr. Purchase orders (purchasing department copy) 7 yrs. Receiving sheets 1 yr. Requisitions 1 yr. Sales records 7 yrs. Savings bond registration records of employees 3 yrs. Scrap and salvage records (inventories, sales, etc.) 7 yrs. Stenographer's notebooks 1 yr. Stock and bond certificates (cancelled) 7 yrs. Stockroom withdrawal forms 1 yr. Subsidiary ledgers 7 yrs. Tax returns and worksheets, revenue agents' reports and other documents relating to determination of income tax liability Permanently Time books 7 yrs. Trademark registrations Permanently Voucher register and schedules 7 yrs. Vouchers for payments to vendors, employees, etc. (includes allowances and reimbursement of employees, officers, etc., for travel and entertainment expenses) 7 yrs.
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