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Record Retention Schedule
 
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,
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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,

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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,

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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,

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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,

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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,

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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.