Resources

Records Retention Schedule

 Items                                                                                                                                                                             Years 

Accounting Records:

Annual financial statements, journals, tax returns and worksheets, depreciation

schedules, general and private ledgers,fixed asset purchases, audit reports............................................................Permanently

Accounts payable/ receivable.....................................................................................................................................10 Years

Sales Records, expense records, loan schedules......................................................................................................7 Years

 

 Bank Records:

 Statements...............................................................................................................................................................7 Years

 Canceled checks......................................................................................................................................................7 Years (Permanent for

                                                                                                                                                                                  real estate purchases)

 Loan Records...........................................................................................................................................................7 Years (From last payment)

 

Computer Records:

Backups of all business records.............................................................................................................................Permanently

 

Corporate Records:

Including but not limited to: Board minutes, incorporation documents, by-laws, licenses, contracts, leases,

mortgages, trademarks, patents, shareholder records, stock and bond transactions, insurance policies and

records, partnership agreements, legal documents and correspondence..............................................................Permanently

 

Personnel Records:

Benefit, pension, profit sharing plans.......................................................................................................................Permanently

Payroll records.........................................................................................................................................................7 Years

Employee contracts and records.............................................................................................................................7 Years (After termination)

Employment applications, resumes.........................................................................................................................3 Years

 

Real Property Records:

Purchases, deeds, bills of sale, construction, improvements, blueprints, plans......................................................Permanently

 

 

Some useful Internet links

News & Information

Federal Income Tax Refund Status

Social Security Administration

Internal Revenue Service

Connecticut Department of Revenue Services