See the 29 May 2002 edition of Dear Association Leader How long do you need to keep records?
Date of formation of association:
|
Item |
Keep |
On hand |
Notes |
|
|---|---|---|---|---|
|
Corporate Organization Records |
permanent! |
|
|
|
|
|
Charter |
permanent |
|
|
|
|
Bylaws |
permanent |
|
|
|
|
Minutes |
permanent |
|
|
|
|
Annual Report |
permanent |
|
|
|
|
|
|
|
|
|
Accounting Records |
|
|
|
|
|
|
General journal |
permanent |
|
|
|
|
General ledger |
permanent |
|
|
|
|
Annual reports |
permanent |
|
|
|
|
Cash receipts |
10 years |
|
|
|
|
Cash disbursements |
7 years |
|
|
|
|
Bank statements |
7 years |
|
|
|
|
Canceled checks |
7 years |
|
|
|
|
Monthly reports |
7 years |
|
|
|
|
Billings, petty cash, expense bills |
4 years |
|
|
|
Fixed asset records |
|
|
|
|
|
|
Land and buildings |
Permanent |
|
|
|
|
Equipment in use |
On file |
|
|
|
|
Equipment disposed |
7 years after disposal |
|
|
|
Contracts |
|
|
|
|
|
|
Lease |
7 years after termination |
|
|
|
|
Most other |
At least 10 years |
|
|
|
Tax returns |
|
|
|
|
|
|
Information returns and working papers |
permanent |
|
|
|
|
Payroll |
5 years |
|
|
|
|
Tax withholding (W-2) |
7 years |
|
|
|
|
Form 990 |
Last 3 years for public |
|
|
|
|
Form 1023 or 1024 |
Permanent for public |
|
|
|
|
|
|
|
|
|
Personnel records |
permanent |
|
|
|
|
|
|
|
|
|
|
General Correspondence |
5 years |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note: This guide for information purposes only. Please discuss your records management with your accountant or lawyer to assure that proper compliance with the needs of your particular association.