Document Retention Policy¶
What's on this page
- Core content for this topic in the Inkorporated enterprise OS.
- Practical guidance, roles, or standards as applicable.
What this enables
- Consistent enterprise operations and decision-making.
- Shared language for humans and cyborg AI agents.
1. Purpose¶
The purpose of this Document Retention Policy is to ensure that necessary records and documents of the Company are adequately protected and maintained and to ensure that records that are no longer needed by the Company or are of no value are discarded at the proper time.
2. Administration¶
The Legal Department is in charge of the administration of this policy and the implementation of processes and procedures to ensure that the Record Retention Schedule is followed.
3. Suspension of Record Disposal¶
In the event the Company is served with any subpoena or request for documents or any employee becomes aware of a governmental investigation or audit concerning the Company or the commencement of any litigation against or concerning the Company, such employee shall inform the Legal Department and any further disposal of documents shall be suspended until the Legal Department determines otherwise.
4. Record Retention Schedule¶
The following chart outlines the retention periods for specific categories of records:
| Record Type | Retention Period |
|---|---|
| Corporate Records | |
| Articles of Incorporation, Bylaws | Permanent |
| Board Meeting Minutes | Permanent |
| Financial Records | |
| Audited Financial Statements | Permanent |
| General Ledger | Permanent |
| Tax Returns | Permanent |
| Accounts Payable/Receivable | 7 Years |
| Bank Statements | 7 Years |
| Employment Records | |
| Employee Personnel Files | 7 Years after termination |
| Payroll Records | 7 Years |
| Employment Applications (not hired) | 3 Years |
| Legal Contracts | |
| Contracts & Agreements | 7 Years after expiration |
| Patents & Trademarks | Permanent |
| Insurance | |
| Insurance Policies | Permanent |
| Accident Reports | 7 Years |
5. Electronic Documents and Email¶
Electronic documents will be retained as if they were paper documents. Therefore, any electronic files that fall into one of the document types on the above schedule will be maintained for the appropriate amount of time.
6. Document Destruction¶
Documents that are no longer needed for business purposes and that do not fall into any of the document types on the retention schedule should be destroyed. Confidential documents (containing personal data or trade secrets) must be shredded or securely erased.