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DESCRIPTION |
CURRENT CLIENTS - RETENTION |
FORMER CLIENTS - RETENTION |
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Audit Work Papers |
6 Years (Add 7 years to Fiscal Y/E) |
6 Years (Add 7 years to Fiscal Y/E) |
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Financial Statement File |
6 Years (Add 7 years to Fiscal Y/E) |
6 Years (Add 7 years to Fiscal Y/E) |
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Permanent Files |
Indefinitely |
6 Years (Add 7 years to Fiscal Y/E) |
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Compilations |
6 Years (Add 7 years to Fiscal Y/E) |
6 Years (Add 7 years to Fiscal Y/E) |
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Correspondence Files |
6 Years (Add 7 years to Fiscal Y/E) |
6 Years (Add 7 years to Fiscal Y/E) |
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Business, Partnership & Fiduciary Returns & Tax
Workpapers |
Indefinitely |
6 Years (Add 7 years to Fiscal Y/E) |
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( Tax Workpapers - Those kept in tax file or workpapers
that |
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specifically state they are related to a tax return) |
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Personal Income Tax Returns & Tax Workpapers |
Indefinitely |
6 Years (Add 7 years to Fiscal Y/E) |
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Internal Accounting Records |
6 Years |
6 Years |
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Note: The six year retention policy starts to run on
issuance so the destruction is set up for seven years to cover the interim
period. |
