Document Retention

The following table sets forth the minimum document retention periods for various categories of documents. The documents may be retained in hard copy or electronically.

Retention beyond the specified periods is discouraged. Each year, over aged documents may be shredded or deleted in a manner that does not compromise the confidentiality of individuals or the Conference.

The retention period for each category of document is as follows:

Accounts payable ledgers and schedules 7 years
Audit reports Permanently
Bank Reconciliations 2 years
Bank Statements 3 years
Checks (for important payments and purchases) Permanently
Contracts, mortgages, notes and leases (expired) 7 years
Contracts (Still in effect) Permanently
Correspondence (general) 2 years
Correspondence (legal and important matters) Permanently
Correspondence (with members and vendors) 2 years
Deeds, mortgages and bills of sale Permanently
Depreciations schedules Permanently
Duplicate deposit slips 2 years
Employment applications 3 years
Expense analysis/expense distribution schedules 7 years
Year-end financial statements Permanently
Insurance Policies (expired) 3 years
Insurance, current accident reports, claims, policies, etc. Permanently
Internal audit reports 3 years
Inventories of products, materials and supplies 7 years
Invoices (to members, from vendors) 7 years
Minute books, bylaws and charter Permanently
Patents and related Papers Permanently
Payroll records and summaries 7 years
Personnel Files (terminated employees) 7 years
Retirement and Pension records Permanently
Tax returns and worksheets Permanently
Time sheets 7 years
Trademark registrations and copyrights Permanently
Withholding tax statements 7 years