Record Retention Time Periods
The Record Management, Retention, and Destruction is a detail policy template which can be utilized on day one to create a records management process. Included with the policy are forms for establishing the record management retention and destruction schedule and a full job description with responsibilities for the Manager Records Administration.
The areas included with this policy template are:
- Record retention requirements for SOX sections 103a, 302, 404, 409, 801a and 802.
- Policy
- Standard
- Scope
- Responsibilities
- Record Management
- Compliance and Enforcement
- Email Retention and Compliance
- Job Description Manager Record Administrator
- 12 forms for Record Retention and Disposition Schedule
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Years |
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1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | PERM | |
Accounting Records |
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Bank statements, reconciliations & deposit slips |
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Dividend checks (canceled) |
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Expense reports |
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Monthly/interim financial statements |
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Inventory count & costing sheets |
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Fixed asset acquisition invoices (after disposal) |
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Accounts payable ledgers (computer runs) |
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Accounts receivable ledgers (computer runs) |
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Cash books & cash register tapes |
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Subsidiary ledgers |
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Monthly trial balances |
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Checks |
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Payroll (individual time report & earnings records) |
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Vouchers |
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Audit reports |
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General ledgers & journals |
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Annual financial statements |
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Income tax returns & work papers |
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Payroll tax returns & W-2’s |
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Corporate Records |
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Mortgages, notes & leases (after expiration) |
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Bylaws, charter & minute books |
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Checks (taxes, property & fulfillment contracts) |
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Contracts & agreements (after termination) |
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Copyrights, trademark & patent registrations |
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Deeds & easements |
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Partnership agreements or corporate documents |
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Labor contracts |
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Capital stock & bond records |
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Patents |
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Proxies |
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Retirement & pension records |
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Correspondence |
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General |
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License, traffic & purchase |
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Production |
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Legal |
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Insurance |
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Policies (after expiration) |
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Accident reports |
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Fire inspection reports |
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Group disability records |
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Safety reports |
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Claims (after settlement) |
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Personnel files (after termination) |
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Employment applications (not hired) |
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Payroll (time cards) |
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Discrimination charges (after settlement) |
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Performance reviews (after termination) |
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Contracts (after expiration) |
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Daily time reports |
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Disability & sick benefits records |
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Personnel files (after termination) |
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Withholding tax statements |
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Employee manuals & polices (after replaced) |
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Worker’s Compensation documents |
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Purchasing and Sales |
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Purchase orders |
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Requisitions |
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Sales contracts |
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Sales invoices |
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Shipping & receiving |
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Export declarations |
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Freight bills |
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Manifests |
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Shipping & receiving reports |
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Waybills & bills of lading |
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