| Description | Retention Period |
|---|---|
| Accident reports and claims (settled cases) | 7 Years |
| Accounts payable ledgers and schedules | 7 Years |
| Accounts receivable ledgers and schedules | 7 Years |
| Audit Reports of accountants | Permanently |
| Bank Reconciliations | 2 Years |
| Cash books | Permanently |
| Charts of Accounts | Permanently |
| Checks (canceled, but see exception below) | 7 Years |
| Checks (canceled for important payments, i.e., taxes; purchases of property; special contracts; etc. Checks shall be filed with the papers pertaining to the underlying transaction.) | Permanently |
| Contracts (expired) | 7 Years |
| Contracts still in effect | Permanently |
| Correspondence (routine) with members, customers, or vendors | 1 Year |
| Correspondence (General) | 3 Years |
| Correspondence (Legal and Important Matters only) | Permanently |
| Duplicate Deposit Slips | 2 Years |
| Expense analyses and expense distribution schedules | 7 Years |
| Financial statements (end-of-year, other months optional | Permanently |
| General and private ledgers (and end-of-year trial balances) | Permanently |
| Insurance Policies (expired) | 3 Years |
| Insurance records, current accident reports, claims, policies, etc. | Permanently |
| Internal Audit Reports | 3 Years |
| Invoices to members and customers | 7 Years |
| Invoices from vendors | 7 Years |
| Membership applications | 3 Years |
| Minutes of directors and committees, including bylaws and charter | Permanently |
| Notes receivable ledgers and schedules | 7 Years |
| Purchase Orders (except purchasing department copy) | 2 Years |
| Stock and bond certificates (canceled) | 7 Years |
| Tax returns and worksheets; revenue agents’ reports and other documents relating to determination of income tax liability | Permanently |
| Trade mark registrations | Permanently |
| Voucher register and schedules | 7 Years |
| Vouchers for payments to vendors, employees, etc. (Includes: allowances and reimbursement of employees, officers, etc., for travel and entertainment expenses.) | 7 Years |