Document Retention Policy Template Sample

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(a) Brokerage Records. The following records in any one file relating to any real estate
transaction shall be retained for at least five (5) years following its consummation:
(i) Any written offers to lea se or purchase the real estate;
(ii) The acquisition of and disbursement of any monies;
(iii) Listing and sales contracts;
(iv) Closing sheets;
(v) Property disclosure forms; and
(vi) Agency disclosure forms.
(b) Accounting Records
(i) Accounts payable and receivable (seven years)
(ii) Annual financial statements (permanently)
(iii) Bank statements (seven years)
(iv) Accounting correspondence: routine (four years)
(v) Deeds and closing papers (permanently)
(vi) Deposit slips (four years)
(vii) Employee expense reports (seven years)
(viii) Income tax returns (permanent)
(ix) Inventory count & costing sheets (seven years)
(x) Insurance policies (four years after expiration)
(xi) Investments (seven years after disposal)
(xii) Payroll journals & ledgers (permanently)
(xiii) Purchase orders (except accounts payable copy) (one year)
(xiv) Purchase invoices & orders (seven years)
(xv) Receiving sheets (two years)
(c) Brokerage Corporate Records
(i) Articles of incorporation and amendments (permanently)
(ii) Bylaws and amendments (permanently)
(iii) Corporate filings (permanently)
(iv) Corporate minute book (permanently)
(v) IRS exemption letter (permanently)
(d) Employment Records
(i) Documents relating to job recruitment: advertising, job orders submitted to
employment agencies, interviewing, testing, hiring, training, demotions,
promotions, layoffs, discharges, and other personnel decisions (one year)
(ii) Employee benefit plan documents (duration of plan)
(iii) Garnishments/wage assignments (three years)
(iv) Immigration I-9 forms (duration of employment plus one year, minimum of
three years)
(v) Payroll records showing name, address, date of birth, occupation, rate of
pay, and weekly compensation (three years)
(vi) Personnel records (ten years after employment ends)
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