| Type of Records | Retention Period |
|---|
| Accident reports and claims | 7 years |
| Accounts payable ledgers and schedules | 7 years |
| Account receivable ledgers and schedules | 7 years |
| Audit reports of accountants | Permanently |
| Bank reconciliation’s | 1 year |
| Capital stock and bonds records (ledgers, transfer registers, stubs showing issues, interest coupon records, option) | Permanently |
| Cash books | Permanently |
| Charts of accounts | Permanently |
| Checks (for important payments) canceled (taxes, property purchases, special contracts-filed with transaction papers) | Permanently |
| Checks (for general payments) canceled | 7 years |
| Contracts and leases (still in effect) | Permanently |
| Contracts and leases (expired) | 7 years |
| Correspondence – Legal, Important matters | 3 years |
| Correspondence – General | 3 years |
| Correspondence – with Customers, Vendors | 1 year |
| Deeds, mortgages, and bills of sale | Permanently |
| Depreciation schedules | 1 year |
| Duplicate deposit slips | 1 year |
| Employee personnel records (after termination) | 3 years |
| Employment applications | 3 years |
| Expense analyses and expense distribution schedules | 7 years |
| Financial Statements (end-of year, other months optional) | Permanently |
| Freight drafts, bills and claims | 5 years |
| Garnishments (after termination) | 3 years |
| General and private ledgers (and end-of – year trial balances | Permanently |
| Income Tax Returns | 7 years |
| Insurance policies (expired) | 3 years |
| Insurance records, current accident records Claims, policies, etc. | Permanently |
| Internal audit reports | 3 years |
| Internal reports (miscellaneous) | 3 years |
| Inventory records (product, materials and supplies) | Permanently |
| Internal audit reports | 3 years |
| Internal reports (miscellaneous) | 3 years |
| Journals | Permanently |
| Labor records: | |
| Daily Time reports | 5 years |
| Disability claims | 7 years |
| Earnings records | 7 years |
| Employee service records | 7 years |
| Pay checks | 7 years |
| Personnel files | 7 years |
| Salary and wage rate changes | 7 years |
| Salary receipts | 7 years |
| Time cards, tickets and clock records | 5 years |
| Unemployment claims | 7 years |
| Withholdings exemption certificates | 7 years |
| Workers compensation reports | 10 years |
| Leases | 7 years |
| Ledgers and journals: | |
| Customer journals | 7 years |
| General Journals | 10 years |
| Plant Ledger | Permanently |
| Royalty journals | 10 years |
| Licenses | 1 year |
| Maintenance and repair records | 7 years |
| Buildings | 7 years |
| Machinery | 5 years |
| Manufactured stock reports | 7 years |
| Minute books | Permanently |
| Mortgages | 7 years |
| Notes receivable ledgers and schedules | 7 years |
| Note registers | Permanently |
| Options records (expired) | 7 years |
| Patent records | Permanently |
| Payroll records and summaries (including payments to pensioners) | 7 years |
| Pension records | Permanently |
| Petty cash records | 3 years |
| Physical inventory tags | 3 years |
| Plant acquisition records | 7 years |
| Property appraisals (outside) | Permanently |
| Property records (including costs) | Permanently |
| Damage reports | 7 years |
| Depreciation reserves, & end-of-year trial Balance | 7 years |
| Depreciation schedules, blueprints and Plans | 7 years |
