How Long Should You Retain Business Records
This schedule provides only a rough guideline to how long certain records should be retained. Your company's particular needs and storage space should be evaluated to determine what is appropriate for your business.
KEY TO NOTATIONS: "AT" Retain AFTER TERMINATION "AD" Retain AFTER DISPOSAL
| Articles of Incorporation | Permanently |
| Bank Statements | 7 Years |
| Deeds | Permanently |
| Depreciation Schedules | 7 Years AD |
| Dividend Register | Permanently |
| Financial Statements | Permanently |
| Fixed Asset Records | 7 Years AD |
| Insurance Policies | 3 Years AT |
| Inventory Records | 7 Years AD |
| Labor Records | See Below |
| Leases | 7 Years AT |
| Ledgers & Journals | See Below |
| Stock Ledger | Permanently |
| Licenses | 1 Year AT |
| Minute Book | Permanently |
| Mortgages | 7 Years AT |
| Notes (Cancelled) | 7 Years |
| Pension Records | Permanently |
| Petty Cash Records | 3 Years |
| Plant Acquisition Records | 7 Years AD |
| Securities (Brokerage slips) | 7 Years AD |
| Stockholders Records | Permanently |
| Tax Records | 10 Years |
| Tax Returns | See Below |
| W-2 Forms | 7 Years |
Labor Records
| Applications (Employees) | 7 Years AT |
| Daily Time Reports | 5 Years |
| Disability Claims | 7 Years AT |
| Earnings Records | 7 Years |
| Personnel Records | 7 Years AT |
| Time Cards | 5 Years |
| Unemployment Claims | 7 Years AT |
| Withholding Certificates | 7 Years AT |
| Workers' Compensation Reports | 10 Years |
Ledgers & Journals
| Accounts Payable | 7 Years |
| Accounts Receivable | 7 Years |
| Cash Journal | 10 Years |
| General Journal | 10 Years |
| General Ledger | Permanently |
| Journal Entries FYE | Permanently |
| Payroll Journal | 10 Years |
| Fixed Asset Ledger | Permanently |
| Purchases Journal | 10 Years |
| Sales Journal | 10 Years |
Tax Returns (copies)
| Estate | Permanently |
| Gift | Permanently |
| Income | Permanently |
| Payroll | 7 Years |
| Personal Property | 10 Years |
| Sales & Use | 10 Years |
| Social Security | 10 Years |