o Accident reports/claims (settled cases): 7 years
o Accounts payable ledgers and schedules: 7 years
o Accounts receivable ledgers and schedules: 7 years
o Audit reports: Permanently
o Bank reconciliations: 2 years
o Bank statements: 3 years
o Cafeteria Plan: 7 years
o Capital stock and bond records: Permanently
o Cash books: Permanently
o Chart of accounts: Permanently
o Checks (canceled - see exception below): 3 years
o Checks (canceled for important payments, i.e. taxes, purchases of property, special contracts, etc. Checks should be filed with the papers pertaining to the transaction.): Permanently
o Contracts, mortgages, notes and leases: 7 years
o Correspondence (general): 2 years
o Correspondence (legal and important matters only): Permanently
o Depreciation schedules: Permanently
o Duplicate deposit slips: 2 years
o Employment applications: 3 years
o Expense analyses/expense distribution schedules: 3 years
o Financial statements (year-end): Permanently
o Garnishments: 7 years
o General / private ledgers, year-end trial balance: Permanently
o Insurance policies (expired): 3 years
o Insurance records, current accident reports, claims, policies, etc.: Permanently
o Internal audit reports (longer retention periods may be desirable): 3 years
o Internal reports (miscellaneous): 3 years
o Inventories of products, materials, and supplies: 7 years
o Invoices to customers: 5 years
o Invoice from vendors: 3 years
o Journals: Permanently
o Minute books of directors, stockholders, bylaws and charter: Permanently
o Notes receivable ledgers and schedules: 3 years
o Payroll records and summaries: 7 years
o Personnel files (terminated): 7 years
o Petty cash vouchers: 3 years
o Physical inventory tags: 3 years
o Property appraisals by outside appraisers: Permanently
o Property records, including costs, depreciation reserves, year-end trial balances, depreciation schedules, blueprints and plans: Permanently
o Purchase orders: 3 years
o Retirement and pension records: Permanently
o Sales commission reports: 3 years
o Sales records: 3 years
o Scrap and salvage records (inventories, sales, etc.): 7 years
o Stock and bond certificates (canceled): 7 years
o Subsidiary ledgers: 7 years
o Tax returns and worksheets, revenue agents' reports, and other documents relating to determination of income tax liability: Permanently
o Time books/cards: 7 years
o Trademark registrations and copyrights: Permanently
o Training manuals: Permanently
o Voucher register and schedules: 3 years
o Vouchers for payments to vendors, employees, etc. (includes allowances and reimbursement of employees, officers, etc. for travel and entertainment expenses): 3 years
o Withholding tax statements: 7 years
o Work In Process reports: 5 years
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