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Administration

Management Plans and Procedures Retention

Management plans, procedures and other administrative documents can become vital resources for consulting many countless years into the future. Even if major elements of your business have changed, you may need to keep a record of how processes, policy and procedure was dealt with in the past in order to perform a comparative analysis.

Additionally, management and administrative documentation can become relevant evidence in legal cases. Lawsuits regarding discrimination, non-disclosure, wrongful termination and other cause-of-actions can often be examined by closely scrutinizing documented work policies.

As such, most managerial and administrative documents are considered irreplaceable, and the general recommendation is to hold onto them forever, whether in digital or paper form.

Suggested Retention Duration for Select Managerial/Admin Documents

Document TypeSuggested Minimum Retention
Corporate charter and bylawsPermanently
Strategic plansPermanently
Organizational chartsPermanently
Mission/vision statementsPermanently
Patents and related papersPermanently
Copyrights, trademarksPermanently
Administrative Correspondence*3 years
*(Important memos, emails and other correspondence regarding strategy, services, programs, policies, procedures, planning and other such materials)
General/Routine Correspondence1 year
Legal CorrespondencePermanently
Asset appraisalsPermanently
Property records including cost reports, depreciation schedulesPermanently
Deeds, mortgages, bills of sale7 years after property sale or transfer
Internal audit reports3 years
Employee evaluations3 years following termination
Training ManualsPermanently
Sales records7 years
Year-end statementsPermanently

Other Documents

For retention schedules for other types of documents, consult the similar tables provided in the corresponding sections:

Important note: These lists were written to serve as general guidelines and not as a replacement for expert opinion. Consult your CPA or a New York business attorney for specific advice on best practices and legal compliance requirements.

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