IAHPC Document Retention and Destruction Policy

This IAHPC Document Retention and Destruction Policy identifies the IAHPC record retention responsibilities of staff, volunteers, members of the board of directors, and outsiders for maintaining and documenting the storage and destruction of the organization’s documents and records. 

The organization’s staff, volunteers, members of the board of directors are required to honor the following rules: 

  1. Paper or electronic documents indicated under the terms for retention in the following section will be transferred and maintained by the IAHPC office;
  2. All other paper documents will be destroyed after three years;  
  3. All other electronic documents will be deleted from all individual computers, data bases, networks, and back-up storage after one year;  
  4. No paper or electronic documents will be destroyed or deleted if pertinent to any ongoing or anticipated government investigation or proceeding or private litigation; and  
  5. Whenever applicable, no paper or electronic documents will be destroyed or deleted as required to comply with government auditing standards (Single Audit Act).  

Record Retention Guidelines

Minimum requirements *

Type of Document Minimum Requirement
Accounts payable ledgers and schedules 7 years
Audit reports Permanently
Bank reconciliations 2 years
Bank statements 3 years
Checks (for important payments and purchases) Permanently
Contracts, mortgages, notes, and leases (expired) 7 years
Contracts (still in effect) Contract period
Correspondence (general) 2 years
Correspondence (legal and important matters) Permanently
Correspondence (with customers and vendors) 2 years
Deeds, mortgages, and bills of sale Permanently
Depreciation schedules Permanently
Duplicate deposit slips 2 years
Employment applications 3 years
Expense analyses/expense distribution schedules 7 years
Year-end financial statements  Permanently
Insurance records, current accident reports, claims, policies, and so on (active and expired) Permanently
Internal audit reports 3 years
Inventory records for products, materials, and supplies 3 years
Invoices (to customers, from vendors) 7 years
Minute books, bylaws, and charter Permanently
Patents and related papers Permanently
Payroll records and summaries 7 years
Personnel files (terminated employees) 7 years
Research records 3 years after the research project is completed and finalized (or longer if other requirements apply). If there are questions or allegations about the validity of the data or appropriate conduct of the research, then indefinitely until such questions or allegations have been completely resolved.
Retirement and pension records Permanently
Tax returns and worksheets Permanently
Timesheets 7 years
Trademark registrations and copyrights Permanently
Withholding tax statements 7 years

* Adapted from National Council of Nonprofits. 

This Policy will be revised and approved annually by the IAHPC Board of Directors.