Business Records Retention

Never Discard!

  • Income Tax Returns
  • Tax Payment Checks
  • Investment Trade Confirmations
  • Important Correspondence
  • Legal Records
  • Retirement and Pension Records
  • CPA Audit Reports
  • Annual Financial Statements and Books of Accounts
  • Corporate Documents (Incorporation, Charter, By-Laws, etc.)
  • Stock Records
  • Retirement and Pension Records
  • Licenses, Patents, Trademarks and Registration Packets
  • Documents Substantiating Fixed Asset Additions

Keep Ten Years

  • Bank Reconciliations and Cancelled Checks
  • Cancelled Payroll and Dividend Checks
  • Personnel and Payroll Records
  • Purchase Records
  • Sales Records
  • Travel and Entertainment Records
  • Supporting Documents for Tax Returns
  • Property Records/Improvement Receipts (If Tax Related)
  • Sales Receipts (If Tax Related)
  • Utility Records (If Tax Related)
  • Other Bills (If Tax Related)

Keep Three Years

  • Monthly Financial Statements
  • Credit Card Statements (For Internal Use)
  • Employment Applications
  • Expired Insurance Policies