Retention Guide

In our paperless society, the question of how long to hold on to important paper documents has been questionable for most people. Financial documents or other items of Personal Identifying are first to come to mind. You don't want anything with financial or personal information to get into the wrong hands but how long do you need to keep other important documents?

You do need to save certain documentation for financial and estate planning purposes and organize these documents for accessibility. Some documents you will keep until you pass. While sometimes it seems easier to hang on to everything, the clutter might make it difficult to locate important papers when the need arises. And, even with digital documents, you can still run out of space.

Read the guidelines below to help determine which documents to keep for three years.

Business Documents To Keep For Three Years

  • Employee Personnel Records (after termination)
  • Employment Applications
  • Expired Insurance Policies
  • General Correspondence
  • Internal Audit Reports
  • Internal Reports
  • Petty Cash Vouchers
  • Physical Inventory Tags
  • Savings Bond Registration Records of Employees
  • Time Cards For Hourly Employees

Personal Documents To Keep For Three Years

  • Credit Card Statements
  • Medical Bills (in case of insurance disputes)
  • Utility Records
  • Expired Insurance Policies