File Retentions File Retentions Accident Reports/claims (settled cases) 7 years Accounts Payable ledgers and schedules 7 years Accounts Receivable ledger and schedules 7 years Audit Reports Permanently Bank Reconciliations 2 years Bank Statements 3 years Capital stock and bond records Permanently Cash Books Permanently Chart of Accounts Permanently Canceled Checks 7 years Canceled checks for Important events, tax payments Permanently Contracts, mortgages, notes, and leases (expired) 7 years Contracts, mortgages, notes, and leases (still in effect) Permanently Correspondence (general) 2 years Correspondence (legal and important matters) Permanently Correspondence (routine) with customers and/or vendors 2 years Deeds, mortgages, and bills of sale Permanently Depreciation Schedules Permanently Duplicate Deposit Slips 2 years Employment Applications 3 years Expense analyses/expense distribution schedules 7 years Financial Statements Permanently Garnishments 7 years General/private ledgers, year-end trial balance Permanently Insurance policies (expired) 3 years Insurance records, current accident reports, claims, policies, etc. Permanently Internal audit reports (longer retention periods may be desirable 3 years Internal reports (miscellaneous) 3 years Inventories of products, materials, and supplies 7 years Invoices (to customers, from vendors) 7 years Journals Permanently Magnetic tape and tab cards 1 year Minute books of directors, stockholders, bylaws, and charter Permanently Note receviable ledgers and schedules 7 years Option records (expired) 7 years Patents and related papers Permanently Payroll records and summaries 7 years Personnel files (terminated) 7 years Petty cash vouchers 3 years Physical inventory tags 3 years Plant cost ledgers 7 years Property apprasials by outside appraisers Permanently Property records, including costs, depreciation reserves & schedules, year-end trial balances, blueprints, and plans Permanently Purchase orders (except purchasing department copy) 1 year Purchase orders (purchasing department copy) 7 years Receiving Sheets 1 year Retirment and pension records Permanently Requisitions 1 year Sales commission reports 3 years Sales records 7 years Scrap and salvage records (inventories, sales, etc.) 7 years Stenographers' notebooks 1 year Stock and bond certificates (canceled) 7 years Stockroom withdrawal forms 1 year Subsidiary ledgers 7 years Tax returns and worksheets, revenue agents' reports, and other documnets relating to determining income tax liability Permanently Time books/cards 7 years Trademark registrations and copyrights Permanently Training manuals Permanently Union Agreements Permanently Voucher register and schedules 7 years Vouchers for payments to vendors, employees, etc. (includes allowances and reimbursements of employees, officers, ect., for travel and entertainment expenses) 7 years Withholding tax statements 7 years Welcome, Company, Newsletter, Contact Us, Quick Facts, Calendar, Links, Calculators, File Retention, Planning Tool