| TYPE OF RECORD |
SUGGESTED RETENTION PERIOD* |
FEDERAL LAW |
CONNECTICUT LAW |
| Accounting |
|
|
|
| Accounts receivable & payable |
6 years |
|
CGS '52-576 |
| Auditors=reports/work papers |
Permanent |
31 C.F.R. '51.107 (1990) 3 years |
|
| Bank deposit slips |
7 years |
|
CGS '12-733 |
| Bank statements, reconciliations |
7 years |
|
|
| Budgets |
3 years |
|
|
| Canceled checks, generally |
7 years |
|
|
| Cash disbursements journal |
Permanent |
26 C.F.R. ' 1.6001-1(a) (1990) |
CGS '12-733 |
| Cash receipts journal |
Permanent |
26 C.F.R. ' 1.6001-1(a) (1990) |
CGS '12-733 |
| Depreciation records |
Permanent |
26 C.F.R. ' 1.167(a)-7 (1990) |
|
| Employee expense reports |
4 years |
26 C.F.R. ' 162-17 (1990) |
|
| Employee payroll records (W-2, W-4
annual earnings records, etc.) |
4 years * |
29 C.F.R. " 516.1-516.31 (1990) and 29
C.F.R. ' 1627.3(a) (1990) (3 years) |
CS Reg "31-60-12,
31-62-E14 |
| Financial statements (annual) |
Permanent |
26 C.F.R. 1.6001-1(a) (1990) |
CGS "12-415, 12-733 |
| Financial statements (interim/internal) |
Permanent |
26 C.F.R. 1.6001-1(a) (1990) |
|
| General journal or ledger |
Permanent |
26 C.F.R. 1.6001-1(a) (1990) |
|
| Inventory lists |
Permanent |
26 C.F.R. 1.6001-1(a) (1990) |
|
| Invoices |
3 years |
26 C.F.R. 1.6001-1(e) (3 years) |
|
| Payroll journal |
4 years |
29 C.F.R. '' 516.1-516.31 (1990) (3 years) |
CS Reg " 31-60-12, 31-62-E14 |
| Petty cash vouchers |
3 years |
|
|
| Corporate Records |
|
|
|
| Annual reports |
Permanent |
|
|
| Articles of Incorporation |
Permanent |
|
|
| Authorizations and appropriations for
expenditures |
3 years |
|
|
| Constitution and bylaws |
Permanent |
|
|
| Contracts, generally |
7 years * (includes listing and buyer rep
agreements) |
|
CGS ' 52-576 |
| Contracts, government |
4 years * |
41 C.F.R. ' 1-3.1204-2 (1990) (non-defense) |
|
| Contracts, sales (UCC) |
4 years * |
|
CGS ' 52-576 |
| Minutes (board and committees with board
authority) |
Permanent * |
|
|
| Minutes (committees without board
authority) |
5 years |
|
|
| Qualifications to do business |
Permanent |
|
|
| Reorganization records |
Permanent |
26 C.F.R. ' 1.371-1 (1990) |
|
| Insurance |
|
|
|
| Accident reports |
6 years |
|
CGS ' 52-577 |
| Insurance claims |
7 years * |
|
CGS ' 52-576 |
| Insurance policies |
Permanent * |
|
|
| Miscellaneous Legal |
|
|
|
| Claims and litigation files |
7 years * |
|
CGS ' 52-576 |
| Copyright, patent and trademark
registrations |
Permanent |
|
|
| Personnel |
|
|
|
| Applications |
3 years |
29 C.F.R. ' 1627.3(b) (1990) (one year) |
|
| Employee earnings/payroll records |
6 years * |
29 C.F.R. ' 1627.3(a) (1990) (3 years) and 29
C.F.R. ' ' 516.1-516 .31 (1990) (3 years) |
CG Reg " 31-60-12, 31-62-E14 |
| Employee files |
7 years * |
29 C.F.R. ' 1627.3(a) (1990) (3 years) and 29
C.F.R. ' ' 516.1-516.31 (1990) (3 years) |
CGS ' 52-576 CG Reg " 31-60-12,
31-62-E14 |
| Employee pension records, including
service, eligibility, personal information, pensions paid |
7 years * |
29 C.F.R. ' 1627.3(c) (1990) (1 year after
plan termination) |
CGS ' 52-576 |
| Employment contracts |
10 years * |
29 C.F.R. ' 516.5 (1990) (3 years) |
|
| Equipment Purchases |
11 years |
|
CGS ' 52-577a |
| Wage Execution |
2 years |
|
CGS ' 52-361a(e) |
| Government reports |
6 years |
|
|
| Medical or exposure to toxic substances
records |
30 years |
29 C.F.R. ' 1910.20 (1990) and 15 U.S.C. ' 2607 (1989) (30 years) |
CGS ' 52-577c (3 years) |
| Pension, profit-sharing plans |
Permanent |
29 C.F.R. ' 1627.3(c) (1990) (1 year after
termination) |
CGS ' 52-576 (7 years after termination) |
| Time cards/sheets |
4 years |
29 C.F.R. ' 516.6 (1990) (2 years) |
CG Reg " 31-60-12, 31-62-E14 |
| Real Estate |
|
|
|
| Contract w/ Architect or Professional
Engineer |
9 years |
|
CGS ' 52-584a |
| Deeds |
7 years** |
|
|
| Leases |
7 years ** |
|
CGS ' 52-576 |
| Mortgages and notes |
7 years** |
|
CGS ' 52-576 |
| Partnership and Joint Occupancy |
7 years* |
|
CGS ' 52-580 |
| Purchases, including title abstracts,
opinions, insurance policies, sales agreements mortgages, deeds |
20 years * |
|
|
| Sales agreement |
9 years** |
|
CGS " 52-576, 52-584a |
| Surveys |
Permanent** |
|
CGS ' 52-575 |
| Title abstract or opinion |
11 years |
|
CGS ' 52-584b |
| Title policy (owner) |
Permanent |
|
|
| Taxes |
nbsp; |
|
|
| Income tax returns and canceled checks
(federal state and local) |
Permanent |
26 C.F.R. ' 1.6001-1 (1990) |
CGS ' 12-733 |
| Payroll tax returns |
4 years |
26 C.F.R. ' 31.6001-1 (1990) (4 years) |
CGS ' 31-268 CG Reg "31-60-12,
31-62-E14 |
| Property tax returns |
3 years |
cf. 26 C.F.R. ' 1.6001-1 (1990) |
CGS " 12-257, 12-119 |
| Sales and use tax returns |
10 years |
cf. 26 C.F.R. ' 1.6001-1(e) (1990) |
CGS ' 12-415 |
| Special real estate tax classification
(farm, forest, open space) applications |
11 years |
|
CGS "12-96, 12-107(a-f) |
| General |
|
|
|
| Supporting correspondence and notes re
patents, copyrights, licenses, agreements, bills of sale, permits, liabilities, etc. |
Greater of A life of principal document which
it supports at or 3 years |
|
|
An asterisk (*) following a number signifies that the retention period begins after
final payment, settlement expiration, termination, sale, etc.
A double asterisk (**) following a number signifies that the retention period applies
if the document has not been recorded in the municipal land records.
