Accounts payable (ledger, schedules and invoices from vendors) | 7 years |
Accounts receivable (ledger, schedules and invoices from vendors) | 7 years |
Audit Reports | Permanently |
Chart of Accounts | Permanently |
Depreciation schedules | Permanently |
Expense records | 7 years |
Financial statements (annual) | Permanently |
Fixed asset purchases | Permanently |
General ledger | Permanently |
Inventory records | 7 years |
Loan payment schedules | 7 years |
Purchase orders (1 copy) | 7 years |
Sales records | 7 years |
Tax returns, revenue agents' reports and other documents relating to determination of income tax liability | Permanently |
Benefit Plans | Permanently |
Employee Files (Ex-Employees) | 7 years |
Employment Applications | 3 years |
Employment Taxes | 7 years |
Payroll Records, Including Payments to Pensioners | 7 years |
Pension/Profit Sharing Plans | Permanently |
Time Books | 7 years |
Construction Records | Permanently |
Leasehold Improvements | Permanently |
Lease Payment Records | Life + 4 years |
Property Appraisals By Outside Appraisers | Permanently |
Real Estate Purchases | Permanently |
Bank Reconciliations | 2 years |
Bank Statements | 7 years |
Cancelled Checks | 7 years |
Electronic Payment Records | 7 years |
Board Minutes | Permanently |
Bylaws | Permanently |
Business Licenses | Permanently |
Contracts – Major | Life + 4 years |
Contracts – Minor | Life + 3 years |
Insurance Policies | Permanently |
Leases/Mortgages | Permanently |
Patents/Trademarks | Permanently |
Shareholder Records | Permanently |
Stock Registers | Permanently |
Stock Transactions | Permanently |
Tax Returns (Uncomplicated) | 7 years |
Tax Returns (All Other) | Permanently |
W-2s | 7 years |
1099s | 7 years |
Canceled Checks Supporting Tax Deductions | 7 years |
Bank Deposit Slips | 7 years |
Bank Statements | 7 years |
Charitable Contribution Documentation | 7 years |
Receipts, Diaries and Logs Pertaining to Tax Returns | 7 years |
Investment Purchases and Sales Slips |
Ownership Period + 7 years |
Dividend Reinvestment Records |
Ownership Period + 7 years |
Year-End Brokerage Statements |
Ownership Period + 7 years |
Mutual Fund Annual Statements |
Ownership Period + 7 years |
Investment Property Purchases |
Ownership Period + 7 years |
Home Purchase Documents |
Ownership Period + 7 years |
Home Improvement Receipts and Canceled Checks |
Ownership Period + 7 years |
Home Repairs Receipts and Canceled Checks |
Ownership Period + 7 years |
Retirement Plan Annual Report | Permanently |
IRA Annual Reports | Permanently |
IRA Nondeductible Contributions Form 8606 | Permanently |
Insurance Policies |
Life of Policy + 3 years |
Divorce documents | Permanently |
Loan documents |
Term of Loan + 7 years |
Estate Planning Documents | Permanently |
General Correspondence | 3 years |
Accident Reports and Claims | 7 years |
Internal Memos and Reports | 3 years |