Document | Retention Period |
| Accident reports/claims (se led cases) | 7 years |
| Accounts payable ledgers and schedules | 7 years |
| Accounts receivable ledgers and schedules | 8 years |
| Audit reports | Permanently |
| Bank statements | 3 years |
| Capital stock and bond records | Permanently |
| Cash books | 7 years |
| Charts of accounts | Permanently |
| Checks (canceled checks for important payments, special contracts, purchase of assets, payment of taxes, etc. Checks should be filed with the papers pertaining to the underlying transaction) | Permanently |
| Checks (canceled except those above) | 7 years |
| Contracts and leases (expired) | 7 years |
| Correspondence, general | 2 years |
| Correspondence, legal and tax related | Permanently |
| Deeds, mortgages and bills of sale | Permanently |
| Deposit slips | 7 years |
| Depreciation schedules | Permanently |
| Employee personnel records (after termination) | 7 years |
| Employee applications | 3 years |
| Expense Reports | 7 years |
| Financial statements (year-end) | Permanently |
| General ledgers, year-end trial balance | Permanently |
| Insurance policies (expired) | 3 years |
| Insurance records, accident reports, claims, policies, etc. | 7 years |
| Internal audit reports (miscellaneous) | 3 years |
| Inventory records | 7 years |
| Invoices to customers from vendors | 7 years |
| IRA/Keogh plan contributions, rollovers, transfers, and distributions | Permanently |
| Minute books of directors, stockholders, bylaws and charter | Permanently |
| Payroll records, summaries and tax returns | 7 years |
| Petty cash vouchers | 3 years |
| Purchase orders | 3 years |
| Receiving sheets | 1 year |
| Retirement plan records | Permanently |
| Safety records | 6 years |
| Sales records | 7 years |
| Tax returns, revenue agents’ reports, and other documents relating to determination of income tax liability | Permanently |
| Time cards and daily reports | 7 years |
| Trademark registration, patents and copyrights | Permanently |
| Trial balances (monthly) | 3 years |
| W-2 Forms | 7 years |
© 2026 Bluffton CPA Group PC | All rights reserved. | Privacy Policy