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 |