Record Retention Period for Corporate Records

Board minutes Permanent
Bylaws Permanent
Business licenses Permanent
Contracts – major Permanent
Contracts – minor Life + 4 years
Insurance policies Life + 3 years (check with agent)
Leases/mortgages Permanent
Patents/trademarks Permanent
Shareholder records Permanent
Stock registers Permanent
Stock transactions Permanent

EMPLOYEE RECORDS

Benefit plans Permanent
Employee files (ex-employees) 7 years (or statute of limitations)
Employment applications 3 years
Employment taxes 7 years
Payroll records 7 years
Pension/profit sharing plans Permanent

REAL PROPERTY RECORDS

Construction records Permanent
Leasehold improvements Permanent
Lease payment records Life + 4 years
Real estate purchases Permanent