02688 bb records management handbook - fellowes · practical tips 5 iso standard 15489 5-6 ......

Records Management Handbook

02688 BB Records Management Handbook.indd 1 05/01/2015 09:53

O r g a n i s a t i o n M a d e E a s y ™

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A Handy Reference for Records ManagementThis booklet is intended to act as a reference guide to getting started with Records Management. It explains the key areas and points to focus on when managing your records, hints and tips to refer to on a daily basis and where to fi nd more detailed information and get help and advice from professional experts.

Contents

Introduction and Acknowledgments 1About Bankers Box® and Fellowes / Introduction to Records Management 2-3Getting Started 3The Basic Principles of Records Management 4Practical tips 5ISO Standard 15489 5-6Disclosing Information 6Sarbanes Oxley Act 7The Records Management Lifecycle / Bankers Box® Filing & Storage solutions 8Selecting the Correct Storage Solution 9Disposal of records and information 10The Records Management Society / Sources of further information 11Sample Retention Schedule 12-17



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About Bankers Box® and FellowesA chance meeting with Walter Nickel in an elevator back in 1917 resulted in Harry Fellowes acquiring a corrugated box business for $50.

He had found the idea intriguing as the recently introduced Federa Income Tax had just brought about new records-keeping equirements in the US. Fellowes Ltd had just been born. Today, Bankers Box® from Fellowes leads the way in archival storage, committed to providing the best-in-class product quality, proprietary manufacturing capabilities and the best overall pricevalue ratio for all types of Records Management.

Through continuous thinking outside of the box, Fellowes has also become a leading global manufacturer and marketer of business machines, records storage and offi ce accessories. All Fellowes products are designed and developed to enhance the quality, effi ciency and productivity of the workplace.

Introduction to Records ManagementWhat is Records Management?

The Information & Records Management Society of Great Britain defi nes the management of records as “The methods, procedures and practices by which an organisation controls and utilises its information assets. Information and records management relates to the legal, legitimate, appropriate and timely gathering of information and creation, use, secure storage, accessing, utilisation, governance and selection for archive/disposal of fi t for purpose records.”1

Information is a vital asset

Businesses revolve around documents – contracts, correspondence, orders, reports, and much more – that record all types of activities. Even the smallest companies are required to keep records (for accounts, audit, tax, pensions, Health & Safety purposes etc). Records Management can be a vital asset, but only if documents can be easily found or accessed. Did you know you could be committing an offence by failing to keep accurate records for the required period of time or being unable to locate them? This could potentially lead to the loss of license to operate, fi nes, imprisonment and ultimately, business failure.

A good records management program can help you improve your business results:

• The systematic disposal of records will prevent costly paper accumulation and free up valuable space.

• Your company will be protected from accidental or premature destruction of records.

• Reference retrieval will be faster – less time will be spent waiting for information.

• Purchases of excessive offi ce fi ling equipment will be avoided.

• Potentially crippling breaches of corporate security will be safeguarded against.

The myth of the paperless offi ce

The speed at which we gather and generate information has been greatly increased by technological advances. But even with email and the Internet, the paper usage in the offi ce is still increasing by around 20% each year.2 That extra 20% must either later be wasted, or fi led away, where it takes up 20% more space. For ineffective fi ling systems, this could lead to duplication of records, retrieval effort, and increased storage costs.

1 http://www.irms.org.uk/about-us



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Getting StartedKnow what you have got

The best way to fi nd out is to conduct an audit – list the types of records and their storage medium (paper, fi lm/fi che, electronic, etc), their subject matter and anything else you need to know to get a good overview.

Know how much you have got

Make an inventory of quantities and volumes. – How much space do the records in each category occupy, and what type of equipment is used to store them?

Know where it is kept

Check all possible storage spaces – start with offi ces (check desks and cupboards), and work outwards to shared and more remote areas (include off-site stores if applicable).

Know why it is being kept

If the person holding it cannot justify the need to keep it, they ought not to keep it. More than one person may be holding the same information. You may fi nd things that others need to know about.

Know how long it is being kept for

Aim to minimise the retention period. Confi rm the legal, regulatory, and business requirements (see the sample Retention Schedule at the back of this booklet) and check that they are being applied. Dispose of confi dential material securely by shredding and then recycling.

Know what to do about it

Publish a policy and guideline, so that everyone is clear about the rules to follow. Then arrange to monitor their compliance – colleagues, supervisors, managers and auditors all have roles to play in this.

Know MORE

Make use of the information you have. Share it whenever possible – Records Management facilitates Information and Knowledge Management; and all three are enabled by Information Technology.

The benefi ts of a good records management system

1. It will enable you to meet your legal and regulatory obligations more easily.

2. Information and records will be more reliable and accessible, saving you valuable time.

3. Increased protection against accidental or premature records destruction.

4. Records will be categorised according to their subject matter, importance, and date, making them easy to retrieve and use, and minimising duplication.

5. Increased security of vital records or information in case of business disruption or disaster.

6. Effi cient storage will help to reclaim valuable offi ce space.

7. Records will not be misfi led, and will be stored in the most appropriate format and medium.

8. Ease of disposal at the appropriate time.



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The Basic Principles of Records ManagementThe importance of good administration and compliance with Records Management Guidelines is widely

recognised nowadays.

Starting with some simple defi nitions, the term “Records” can include all books, papers, correspondence and documentary materials made and received by an organisation. Essentially, Records Management is Information Management, which makes possible “The effi cient and systematic control of receipt, maintenance, use and disposition of records, including processes for and maintaining evidence and information of business activities and transactions in the form of records”1

From a user’s point of view, an effective Records Management system means:

• People other than the person who fi led away the record can fi nd what they need.

• People are aware of what they can copy or keep, who they can and cannot share information with, how long they can keep a particular record for and what to do with it after use.

• Staff can learn to manage and use the system quickly and easily.

• The risk of confi dential information being distributed can be minimised.

• Important records and documents are not accidentally discarded.2

The two basic elements of a Records Management System are a Classifi cation System and a Retention and

Disposition Schedule.2

Classifi cation System

Identifi es the category a record belongs to and assigns it a number or code for retrieval. Each department can be given an identifying code, which, in turn, may be broken down into further sub-categories. Organising in terms of work functions as opposed to staff or structure will mean that changes to the organisational structure will not mean a redesign of the fi ling system.2

Retention and Disposition schedule

This will dictate what to do with a record when it arrives, where to store it, who can use it, how long it needs to be kept for, what to do when it is no longer required and who has authority for each action. Security and backup are very important considerations to take into account. Always have a system for marking confi dential or sensitive information so it can be destroyed or removed in extreme situations. Possessing a corporately approved and adhered to retention schedule could also prove useful in the event of defending legal claims arising from accusations of wilfully destroying evidence. In the event of legal action, documents that are due for destruction, but may also form part of material evidence, must not be destroyed.3 ISO 154891 / 2 www.aidworkers.net/exchange/20020904.html - Terry Clayton



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Practical tipsLocating records

These hinge around classifi cation, titling and indexing. Don’t be put off by the terminology - you almost certainly do all these things at home! Are your CDs, DVDs and books indexed according to their title, subject, or name, for example? It is usually logical to group things according to their content, and to put them into alphabetical or numerical order. For example, personnel records usually have information such as an employees name, number, date of birth, tax reference, national insurance number, and date employment began. All these may be used to help you to fi le, and later to fi nd and identify the right person’s record.

Creating a simple card index, or database of these identifying features will enable you to cross-reference them, and so fi nd things more easily later. You may know one of these identifi ers, but it would lead you to the same item. Computer software and barcode labelling offer easier and quicker ways to fi nd things.

Making best use of space

Minimising retention periods will have the biggest impact, so encourage people to dispose of passing information and mail (including email) as soon as possible, and to keep to the agreed retention schedule for everything else.

Then look for the most effi cient way to store what is left. Getting the right balance of control, ease of access, convenience, security, and value for money is very important. The system must meet the users’ needs, and minimise costs.

Having a formal fi ling system in place is a useful discipline. That usually dictates how things are stored, and where. Generally speaking, active, frequently used records are best kept close to the users. That usually means in the offi ce or on the desktop, in fi les, folders and through storage systems, such as the Bankers Box® System range.

Safeguarding vital records

Records that are misfi led are no more useful than those that are prematurely destroyed or even stolen. A fi ling system needs to be as effi cient as possible. Ensure that members of staff know how to use it properly, and that it is appropriately protected. Truly vital records deserve preferential treatment and are best stored in fi reproof safes or vaults, or in formal archives PD 5454:2012 for further information. Always have a disaster prevention and recovery plan in place, as well as a backup system in case things get destroyed. Consider seeking professional advice from Risk Assessors, or Archivists.

Health and Safety issues

The most valuable resource to a company is its staff, so the risk to them must also be minimised. Ensure that their workplace, the equipment they use, and the way records are stored does not pose an unacceptable risk to their health and safety. For example, check that boxes on shelving are not too high to reach and they cannot fall, arrange training in manual handling techniques to minimise risk of back injuries caused by overloaded boxes and minimise dust by having the stored boxes or fi les regularly vacuumed clean. But above all, make certain that you comply with all relevant standards and regulations.British Standard PD 5454:2012 gives recommendations for the storage and exhibition of documents, including books and other library materials. These recommendations apply to permanent and temporary storage of documents, and equally apply to material which is subject to restricted access or is on display.

ISO Standard 15489Locating records

Launched in September 2001, ISO 15489 is a standard that should be used as a series of guidelines for the management of records in an organisation to ensure accuracy, accessibility and maintenance throughout all stages of a document’s life. The standardisation of records management policies and procedures ensures that appropriate attention and protection is given to all records, and that the evidence and information they contain can be retrieved more effi ciently and effectively, using standard practices and procedures. All elements outlined in this part of ISO 15489 are recommended to ensure that adequate records are created, captured and managed.



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Scope of ISO 15489

• Applies to the management of records, in all formats or media, created or received by any public or private organisation in the conduct of its activities, or any individual with a duty to create and maintain records.

• Provides guidance on determining the responsibilities of organisations for records and records policies, procedures, systems and processes.

• Provides guidance on records management in support of a quality process framework to comply with ISO 9001.

• Provides guidance on the design and implementation of a records system but does not include the management of archival records within archival institutions.

Scope of ISO 15489

The ISO standard is intended for use by:

• Managers of organisations

• Records, information and technology management professionals

• All other personnel in organisations, and other individuals with a duty to create and maintain records.

Disclosing InformationA series of Acts and Regulations have been introduced in recent years leading to an increased transparency of information. Such laws have potentially signifi cant implications for Records Managers in terms of accessing information demanded by third parties. The acts outlined below are just some examples of how an effective records management policy has become increasingly vital for companies and institutions alike, in terms of locating and retrieving information upon request.

Freedom of Information Act 2000 for the UK (excluding Scotland)Implemented in January 2005, this law gives the general public a right to gain access to all kinds of information regarding the management and work of public bodies across the UK, with the primary objective to make government and public bodies more open and transparent. The fi nal decision on releasing information lies with an information tribunal.

Freedom of Information Act (Scotland) 2002This is very similar to the FOIA for the UK, allowing the public access to information from public bodies in Scotland. The main difference between the Scottish Act and that for the rest of the UK is that the fi nal decision on releasing information lies not with an information tribunal (who can have the fi nal say over the Information Commissioner for the rest of the UK), but solely with the Information Commissioner. Although the Freedom of Information Acts outlined above apply principally to the public sector, private sector organisations will be affected in instances of contractual agreement with public sector organisations.

Data Protection Act 1998The Data Protection Act of 1998 gives individuals the right to access certain information held about themselves by organisations. Enforced by the Information Commissioner, the Act governs how organisations (both private and public sector) can use the personal information they hold – including how it is acquired, moved, shared and disposed of.



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Sarbanes-Oxley Act 2002The Sarbanes-Oxley Act (Public Law 104-204) came into effect on 30th July 2002, introducing signifi cant legislative changes to fi nancial practice and corporate governance regulation in the US (and any company based outside the USA but with a US parent company), with its main objective being ”to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws“. 4

SOX, as it is commonly known, came about in the wake of a series of corporate fi nancial scandals, aiming to “deter and punish corporate and accounting fraud and corruption, ensure justice for wrongdoers, and protect the interests of workers and shareholders” (Quote: President Bush).

Impact of SOX

SOX establishes stringent fi nancial reporting requirements and defi nes what type of information must be recorded and over what period of time, in order to ensure the transparency and accuracy of business records. Compliance to this law relies on a sound foundation of information and records management practices.

The UK version of the act came into force in April 2005. Set out in the Companies (Audit, Investigations and Community Enterprise) Act of 2004, this has knock-on effects for records management, with more stringent measures required to ensure the accuracy and integrity of records. The legislation means the creation of an audit trail to prove due diligence has been carried out on the required information, as it will no longer be suffi cient to put information security measures in place, but also to prove it.

As a result of the passing of this law, records management is no longer simply an effective business process. It is now a critical compliance and risk management issue, with stiff penalties for non-compliance of records management practices, frequently based on a life-cycle approach.

Sarbanes-Oxley compliance in practice

One company had a process for accountability before SOX, about which the Director of Financial Operations commented that not everything was documented. He believes his company benefi ts from SOX compliance precisely because it has to document its internal controls and verify the data, stating “SOX can help a company in many ways, such as fi nding revenue leakages”.

When asked how the law affects his company’s competitiveness, he noted that the launch of a new product must be carefully weighed against the risk of not being able to meet Section 404 certifi cation deadlines. “There’s a lot of that balancing act - juggling the ability to launch new products and comply with SOX, but I think SOX does enhance the company as a whole.”5

5 www.european-quality.co.uk/free-content/free-articles/the-benefi ts-and-challenges-of-sarbanes%11oxley-compliance/4 http://www.sarbanes-oxley-forum.com



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The Records Management LifecycleThe lifecycle of a document consists of 4 stages. There is a Bankers Box® product for every stage of the lifecycle.

Bankers Box® Filing & Storage solutionsThe lifecycle of a document consists of 4 stages. There is a Bankers Box® product for every stage of the lifecycle.

For many years Fellowes fi ling and storage solutions have set the industry standard for value, consumer satisfaction, and best of all, strength. When it comes to stacking, storing and transporting fi les, Bankers Box® storage solutions offer strength you can count on for problem-free storage.

Bankers Box® offers a storage solution for every application with a variety of features to suit your needs.

Information that is frequently referred to.1. Active

Information that is not regularly used but has to be kept e.g. for legal reasons.

2. Semi-Active

Information that has a long term, probably historical value.

3. Archival

Destruction by shredding then recycling.4. Disposal

SYSTEM EARTH SERIESPREMIUM

Boxes feature PrestoTM

Instant AssemblySelected products feature

Fastfold® automatic assembly

All products in thisrange are manual

assembly

Boxes are up to 80% stronger than basic strength boxes

Boxes are up to 50% stronger than basic strength boxes

ARCHIVAL

ACTIVE

SEMI-A

CTIV

E

DISP

OSAL

There is a product for

every stage of a document’s life



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Selecting the Correct Storage SolutionSelecting the correct document management product is important when establishing a fi ling system. Here is a simple formula to help you decide:

First – determine how often you will access the contents Second – determine how much space you have for storage

STORAGE UNITSIdeal for when you have a limited amount of storage space (no shelving units) and require frequent access to fi les. Some units are also suitable for desktop use.

TRANSFER FILES STORAGE BOXESIdeal for use with storage units for documents that are frequently required or with storage boxes for infrequent access or archival processes.

Ideal for use with or without shelving units when you require infrequent access to fi les. Can also be used to transport fi les for off-site storage.

Your Situation Your Solution Storage Units

Transfer Files

Storage Boxes

Have limited space and no shelving

Stackable units offer space saving fl oor or desktop storage solutions X

Require easy, frequent access to fi les Eliminates the need to un-stack and re-stack boxes X

Need to save time retrieving fi les

Storage units cut retrieval time in half. Transfer fi les offer spine labels for quick and easy identifi cation X X

Infrequent access to fi les Less frequently accessed fi les can be stored in storage boxes which can be stacked to save space X X

Frequent moving and handling of records

Stronger boxes are designed for frequent moving and handling X

Moving records to an off-site location for long term storage

Transfer fi les or lever arch fi les can be placed in storage boxes to maintain a fi ling system off-site X X

Lever arch fi les are used and need to be accessed regularly

Selected fi ling units are compatible with lever arch fi les and are ideal for frequent use X

Lever arch fi les need to be stored long term

Selected storage boxes are compatible with lever arch fi les and are ideal for long-term storage X

Faster, easier set-up - Selected products offer Presto™ instant assembly or FastFold® automatic assembly to save you time:

All Bankers Box® corrugated products are made from FSC® certifi ed 100% recycled board and can be recycled. All inks used are water based and all adhesives are solvent free.

Manual Assembly

SUSTAINABLE, ENVIRONMENTALLY FRIENDLY PRODUCTS



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Disposal of records and informationSecure destruction and disposalOnce a document has reached the end of its life and no longerneeds to be retained, it must be disposed of securely.

Be safe, shred it

Personal and Corporate Identity Fraud is a fast growing crime and occurs when an individual’s or company’s personal or confi dential information i obtained by another person without their knowledge in order to create a new false identity.

It is not only Best Practice to have a secure document disposal policy in place in order to protect your company, employees and customers; it is also a legal requirement for businesses.

The 7th Principle of Data Protection Act 1998 requires that “appropriate security measures be in place to safeguard against unauthorised or unlawful access / processing of personal data”.

Personal Documents

• Bank & credit card statements & receipts

• Utility bills

• Pre-approved credit card applications

• Tax returns

• Documents showing signatures & social security number

Therefore it is essential to ensure that documents are shredded. Shredding is the most effective, convenient and environmentally friendly method of document disposal. Fellowes recommend that all business owners and individuals alike should have access to a shredder.

What to Shred?

Every piece of paper or document that contains some form of information or data that may be of use to criminals, fraudsters or competitors should be shredded before disposed.

Company Documents

• Customer details & client lists

• Marketing plans & sales fi gures

• Accounting records & fi nancial reports

• Personnel fi les, CVs & salary information

• Research & Development plans

• Legal documents, patent information & medical records

• Letter-headed paper, compliment slips & documents showing signatures

There are two types of shredder, strip cut and confetti cut models;

Strip cut models provide conventional, everyday security by shredding paper into unreadable strips.

Confetti cut models, as recommended by Fellowes, provide higher security by cutting paper into small unreadable pieces - increasing the security and reducing the bulk waste by up to 5 times

Make sure you have methods in place to securely dispose of your information when it reaches the end of its lifetime. The Fellowes Powershred® range of shredders has been designed to incorporate safety features and user-friendly functionality ensuring that the World’s Toughest shredders will always provide Powerful Protection.



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Information and Records Management SocietyThe Information and Records Management Society is the foremost professional association for all those who work in, or are concerned with records or information management. Launched in 1983, IRMS recognised the ever-increasing number of people working in the fi elds of records and information management. All those concerned with records and information can join the Society, regardless of their professional or organisational status and qualifi cations.

Organisations wishing to develop records or information systems as well as those that provide services in these fi elds are also welcome. Through close and regular contact with its own members and with related professions, the Information and Records Management Society encourages the highest professional standards.

For further information on the Information and Records Management Society, visit their website at: www.irms.org.uk/

Sources of further informationOn the following pages you will fi nd a Retention Schedule that can help you to build a records management programme. More information about records management is also available from:

• The International Organisation for Standardisation Information on ISO 15489 is available from the ISO or BSI and gives detailed information about all aspects of records management.

• The National Archives, and their website www.nationalarchives.gov.uk/ contains lots of reference material, including guidance on how to manage and preserve electronic records.

• The Archives and Records Association is the lead professional body for archivists, archive conservators and records managers in the United Kingdom and Ireland. Visit www.archives.org.uk/

• The Information Commissioner’s offi ce is the UK’s independent public body set up to promote access to offi cial information and to protect personal information, including the Data Protection Act, Freedom of Information Act and Environmental Information Regulations. Visit www.ico.gov.uk

• The Business Archives Council promotes the effi cient management, preservation and use of business records through publications, training and practical support for businesses who wish to preserve their history. Visit http://www.businessarchivescouncil.org.uk/

• The principal records storage companies should belong to a professional body called Prism International (www.prismintl.org) who can put you in touch with your nearest service provider.

For further information on Bankers Box® and its product ranges call 01302 836836

or email [email protected]



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DOCUMENT RETENTION PERIOD WHY RETAIN?

1. Supplies Accounts

Cheques/remittance advice 6 Years Legal

Cash book list 10 Years Legal

Cost control ledger analysis 6 Years Legal

Invoice 6 Years (revenue)10 Years (capital)

LegalCommercial

Purchase requisitions 2 Years Audit

Purchase orders 3 Years after expiry (capital)Current plus 3 years (revenue)

AuditAudit

Quotations:- Capital expenditure (successful)- Capital expenditure (unsuccessful)- Revenue expenditure (successful)- Revenue expenditure (unsuccessful)Contracts for raw material purchase

Permanently1 yearCurrent plus 1 year3 Months12 years after expiry (under seal)years after expiry (others)

AuditCommercialAuditCommercialLegalLegal

Export rebate claims 3 years from fi nal payment Commercial

Customs and excise returns 6 years Legal

Shipping documents 6 years Legal

VAT deferments 6 years Legal

2. Assets

Ledger sheet 10 years Legal

Consolidated accounts Permanently Commercial

Disposal of assets Permanently Commercial

Application to write off plant value Permanently Commercial

Annual depreciation 3 years Audit

3. Sales Records

Customer complaints 10 years Commercial

Customer orders/estimates/quotations 6/12 years after expiry Commercial

Enquiries 1 year Commercial

Export credit guarantee documents 6 years after expiryPermanently if claim made

CommercialCommercial

Long dated budget Current plus 1 year Commercial

Short dated budget 1 year Commercial

Sales/journals ledgers 10 years Legal

Nominal & Journal ledgers Permanently Commercial

Journal vouchers 3/6 years Legal

Sales invoices & credit notes 6 years Legal

Consignment notes 6 years Legal

Delivery documentation Current plus 6 years Legal

Retention Schedule

This schedule is intended as a guide only. Many organisations have their own specifi c guidelines



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Cheques/remittance advice 6 Years Commercial

Outstanding account schedule 6 Years Legal

Statements 2 years Audit

Overdue account letters Until paid Commercial

4. Employee Records

Staff patent agreements 16 years after employment end Commercial

Unsuccessful job applicants 1 year Commercial

Medical records 30 years after expiry (with consent) Commercial

Medical treatment records Dependent on treatment (with consent) Legal

X-ray registers 7 years after expiry Legal

Accident reports Permanently3 years

CommercialLegal

Medical schemes/reports Permanently Commercial

Organisation charts Permanently Commercial

Superannuation Current pensioners 10 years after benefi t ends

Commercial Payment changes 6 years Legal

Payroll Control Current plus 6 years Legal

Certifi cate of existence & continued entitlement 6 years Legal

Amended code number notice 6 years Legal

All trust deeds and rules Permanently Legal

Trustee minute book Permanently Legal

Fund annual account Permanently Legal

Investment and contribution Records Permanently Legal

Actuarial valuation reports Permanently Legal

Records of ex-pensioners 6 years after the benefi t ends Legal

Pension investment policies 12 years after the benefi t ends Legal

Inland Revenue approvals Permanently Legal

Group health/personal accident policies 12 years after the benefi t ends Legal

Staff personal records 7 years after employment ends Legal

Company executive records Permanently Commercial

Salary registers 6 years Legal

Expenses accounts 7 years Legall

Industrial training records 6 years Commercial

Labour agreements Permanently Commercial

Works council minutes Permanently Commercial

Absentee records Permanently Commercial

Staff overtime 6 years Legal

Redundancy/ long service 7 years Legal

Retention Schedule




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Retention Schedule



5. WagesP45, P58, P48, P6, P60 6 Years Legal

Income tax and pay details 6 Years Legal

Returned tax 6 Years Legal

Monthly superannuation 10 Years Commercial

Annual superannuation Permanently Commercial

Cumulative superannuation 6 years Commercial

National insurance 6 years Commercial

Schedule of deductions 6 years Audit

Clock cards 2 years Audit

Pay advice Current plus 1 year Legal

Payroll Current plus 6 years Legal

Annual earnings summary 6 years Legal

6. Sub contractorsSC60 etc. 6 years Legal

Other income tax 6 years Legal

National insurance 6 years Commercial

Time sheets Current plus 1 year Legal

7. InsurancePolicies 3 years after lapse Commercial

Accident claims correspondence 3 years after settlement Commercial

Insurance schedules 10 years Commercial

Claims regarding radiation 30-40 years Legal

Infant settlements Until 24th birthday Legal

Other settlements 7 years after claim Legal

Workmen’s compensation act claims 1 year Commercial

Accident record books Employees life Commercial

Public & product liability policies Permanently Legal

8. Cash recordsBank paying in counterfoils 6 years Legal

Cheque/remittance advice control sheets 6 years Legal

Control sheets 2 years Legal

Cheques/remittance advice 6 years Legal

Bank/GIRO account statements 6 years Legal

Daily cash book 6 years Legal

Banking returns 6 years Legal

Unpresented cheque list 6 years Legal

Bank reconciliations 6 years Legal



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Retention Schedule



Employee receipts of paypacket slips 2 years Audit

Petty cash records Current plus 6 years Legal

Main cash book 10 years Commercial

Cash received/ cheque payment sheets 10 years Legal

Petty cash returns 6 Years Commercial

9. InvestmentsShare certifi cates register Permanently Legal

Company purchase/ sales register Permanently Legal

Pension fund details Permanently Legal

10. Share documentsApplication forms Permanently Commercial

Acceptance forms Permanently Commercial

Renounced share certifi cates Permanently Commercial

Allotment letters (renounced) & sheets & returns Permanently Legal

Allotment letters (lodged for exchange) 1 year from date ceased to be valid Legal

Share & stock transfer forms Permanently Legal

Letters of indemnity for lost records Permanently Legal

Annual return Permanently Legal

Dividend and interest payments list & warrants 12 years Legal

Unclaimed dividend & interest lists Until cleared/ forfeited Legal

Cancelled share certifi cates 1 year Legal

Change of address 2 years Legal

Register of Directors interest Permanently Legal

Register of interests in voting shares Permanently Legal

Register of members Permanently Legal

Forms for conversion 7 years after the conversion date Legal

Shareholders with >5% interest register Permanently Legal

11. LoansDebtor accounts control report 6 years Legal

Arrears schedule 6 years Legal

Individual debtor accounts Permanently until paid Legal

Listing of wage deductions 3 years Audit

Statement of loan account Permanently Commercial

12. Corporate DocumentBalance sheet, profi t & loss account Permanently Legal

Minutes of general & committee meetings Permanently Legal

Directors minutes signed by the chairman Permanently Legal

Company registers Permanently Legal



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Retention Schedule



Powers of attorney & court orders Permanently Legal

Copy of instruments creating change Permanently Legal

Enquiry proceedings Permanently Commercial

Company’s organisation papers Permanently Commercial

Important company policy papers Permanently Commercial

Legal documents Permanently Commercial

Trade Union agreements Permanently Commercial

Certifi cate of incorporation Permanently Legal

Certifi cate to commence business Permanently Legal

Seal book Permanently Legal

Proxy forms/ polling cards 1 month (no poll)1 year (poll)

CommercialCommercial

Register of directors and secretaries Permanently Legal

Articles of association Permanently Legal

Corporate magazines 30 years Commercial

Correspondence fi les 6 Years Commercial

13. Title Deeds etc.All title deeds and property related documents 12 years after expiry interest ceased Legal

14. Contract Agreements etc.Under Seal 12 years after expiry Legal

Others 6 years after expiry Legal

Major agreements Permanently Commercial

Royalty payments Permanently Commercial

Royalty agreements 1 year after expiry Legal

15. Trademark PapersAll related documents Permanently Commercial

Expired Patents 12 years Legal

16. Stores & Accounts DocumentsGoods received register 3 years Audit

Inward invoice 3/6 years Legal

Goods in and out record book Current plus 6 years Legal

Stock adjustments sheets 2 years Audit

Stock requisitions & control vouchers 2 years Audit

Stores transfers, sales inventories & Stock sheets Current plus 6 years Legal

Bin cards 2 years Audit

Contractors time sheets Current plus 6 years Legal

Invoices with no offi cial orders Current plus 6 years Legal



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Retention Schedule



Goods in advice notes Current plus 6 years Legal

Purchase copy order set 6 years after expiry Legal

17. Donation & Subscription RecordsIndex of donation given 6 years Legal

Deeds of covenant 1 year after fi nal payment Legal

Donations granted info. 1 year Commercial

Donations refused info. 3 months Commercial

Subscriptions records 3 years after membership Commercial

Government grants if not now receiving 6 years Legal

Government grants if still receiving Permanently Legal

18. Transport RecordsDrivers log books 1 year Commercial

Other records 2 years after vehicle disposal Commercial

Tachographs 3 years Legal

19. Technical ResearchAll reports of data 12-15 years Legal

Product Specifi cations Retained for contractual limitation period 6-12 years Legal

20. Property ReceiptsLeases 12 years after lease end Legal

Architect/ builder agreements 6 years after contract ends Legal

Product specifi cations 6 years Legal

21. PlansArchitectural Permanently Commercial

Engineering detail Permanently Commercial

Mining Permanently Commercial

Structural Permanently Commercial

General Layout Permanently Commercial

22. Management InformationManagement accounts 6 years Commercial

Ad hoc investigations 6 years Commercial
