Located at:

9091 Madison Blvd., Madison, AL
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256-258-0419

Business Record Retention Schedule


Below is a guide to the length of times that different records need to be retained. A PDF version of this records retention schedule is available for download.
 
Accounts Payable Ledger
Accounting and Fiscal
Record Type Years to Retain
Accounts Payable Invoices 3
Permanently
Accounts Receivable Ledger 3
Balance Sheet Permanently
Bank Deposit Books and Slips 3
Bank Statements and Reconciliations 3
Bonds and Records Permanently
Budgets and Costs Files 3
Capital Asset Records 3 - After Disposal
Cash Receipt Journals 7
Check Register Permanently
Financial Statements - Certified Permanently
General Ledger Permanently
Note Ledgers Permanently
Payroll Register 3
Profit and Loss Statements Permanently
 
Administrative
Record Type Years to Retain
Audit Reports - Public and Government 10
Audit Reports - Internal 3
Audit Work Papers - Internal 3
Classified Documents: Control, Inventories, Reports 10
Correspondence - Executive Permanently
Correspondence - General Office 5
Directives from Offices Permanently
Forms Control - 1 Copy Permanently
Systems and Procedures Records (Record Copy) Permanently
 
Contract Administration
Record Type Years to Retain
Contracts, Negotiated, plus Bailments, Changes, and Specifications Procedures, Correspondence Permanently
Reports Relating to Distribution, Revision, Form and Format Permanently
 
Corporate
Record Type Years to Retain
Annual Reports Permanently
Bonds - Surety 2 - After Expiration
Capital Stock Ledger Permanently
Charters, Constitution, By-Laws Permanently
Contracts 20 - After Termination
Election Records - Corporate Permanently
Incorporation Records Permanently
Licenses - Federal, State, Local 1 - After Termination
 
Legal
Record Type Years to Retain
Claims and Litigation or Torts and Breach of Contract Permanently
Copyrights Permanently
Law Records - Federal, State, Local When Suspended
Patents and Related Data Permanently
Trademarks Permanently
 
Personnel
Record Type Years to Retain
Accident Reports, Injury Claims, Settlements 30 - After Settlement
Applications, Changes, Terminations 5
Attendance Records 7
Employee Activities 5 - After Termination
Employee Contracts 5 - After Termination
Fidelity Bonds 3 - After Termination
File - Individual Employee 5 - After Termination
Garnishments 3 - After Settlement
Health and Safety Bulletins Permanently
Injury Frequency Charts Permanently
Insurance Records, Group - Employee 10 - After Termination
Job Descriptions 3 - When Suspended
Rating Cards 3 - When Suspended
 
Plant and Property
Record Type Years to Retain
Depreciation Schedules Permanently
Inventory Records Permanently
Maintenance and Repair - Buildings 10
Maintenance and Repair - Machinery 5
Plant Account Cards, Equipment Records, Historical Folders Permanently
Property Deeds Permanently
Purchase of Lease Records - Plant Permanently
Space Allotment Records 2 - After Termination
 
Security
Record Type Years to Retain
Classified Material Violations Permanently
Courier Authorization 1 Month - After Trip
Employee Case Files 5 - After Termination
Employee Clearance Lists When Suspended
Fire Prevention Programs Permanently
Subcontractor Clearance 2 - After Termination
Visitor Clearance 2/td>
 
Taxation
Record Type Years to Retain
Annuity or Deferred Payment Plan Permanently
Depreciation Schedules Permanently
Dividend Register Permanently
Employee Withholding 5
Excise Exemption Certificates 4
Excise Reports 4
Inventory Reports Permanently
Tax Bills and Statements Permanently
Tax Returns Permanently
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