Checklists

Financial Record Storage Chart

Use this checklist to ensure that you're saving the right financial records for tax purposes and keeping them for an appropriate amount of time.

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Record Type

Income tax reports, protests, court briefs, appeal
How long? Indefinitely

Annual financial statements
How long? Indefinitely

Books of account, such as the general ledger
How long? Indefinitely

Subledgers
How long? 3 years

Canceled, payroll and dividend checks
How long? 6 years

Income tax payment checks
How long? Indefinitely

Bank reconciliations, voided checks, check stubs and register tapes
How long? 6 years

Sales records such as invoices, monthly statements, remittance advisories, shipping papers, bills of lading and customers' purchase orders
How long? 6 years

Purchase records, including purchase orders and payment vouchers
How long? 6 years

Documents substantiating fixed-asset additions, depreciation policies and salvage values assigned to assets
How long? Indefinitely

Personnel and payroll records, such as payments and reports to taxing authorities, including federal income tax withholding, FICA contributions, unemployment taxes and workers' compensation insurance
How long? 6 years

Corporate documents, including certificates of incorporation, corporate charter, constitution and bylaws, deeds and easements, stock, stock transfer records, minutes of board of director meetings, retirement and pension records, labor contracts and license, patent, trademark and registration applications.
How long? Indefinitely

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