Document Retention and Destruction
Document Retention and Destruction Policy
Good recordkeeping is not only essential to the function of MPP, but it also helps MPP meet legal requirements for the retention of documents. This policy should be used to guide all document retention and destruction.
First and foremost:
- It is illegal to destroy any document anytime MPP is under federal investigation.
- It is illegal to alter, cover up, falsify, or destroy any document to prevent its use in an official proceeding.
- E-mails are documents that should conform to all guidelines in this policy.
Guidelines for Documents:
| 3 Years |
10 Years |
Forever |
|
Employment applications
|
Accounts payable and receivable ledgers and schedules (in QuickBooks)
|
Annual Reports to Secretaries of State / Attorneys General |
Volunteer records
|
Bank statements (with Vendor Files) |
Audit reports of accountants (in file cabinets behind front desk) |
|
4 Years
|
Cash books (in QuickBooks)
|
Contracts and leases still in effect
|
| Correspondence, general |
Checks, Cancelled |
Financial statements (end-of-year) |
| 7 Years |
Contracts and leases (expired)
|
Employee personnel records |
| Garnishment Records |
Depreciation schedules |
Donation records of endowment funds and of significant restricted funds
|
| |
Donation records, other |
Correspondence (legal and important matters)
|
| |
Duplicate deposit slips |
Founding documents
|
| |
Invoices to “customers” |
General ledgers and end-of-year statements (in QuickBooks) |
| |
Invoices from vendors
|
Insurance policies (expired)
|
| |
Payroll records and summaries, including payments to pensioners |
Insurance records, current accident reports, claims, policies, etc. |
| |
Time sheets and cards |
Minute books of Board of Directors, including Bylaws and Articles of Incorporation |
| |
|
Press releases / Public filings |
| |
|
Tax returns and worksheets, revenue reports, and other documents relating to determination of tax liability |
| |
|
Unemployment tax records |
Failure on the part of any employee to comply with this policy will result in disciplinary action, up to and including termination, depending on the severity of the transgression.
