how long must fuel inventory reconciliation records be kept?

Question

there is a daily log of fuel reconciliation made at arco and other gas sites. how long does the law require those records be kept. sources please.
thanx so much

Answer 1

For IRS purposes, you keep the current year and three previous years unless you're being investigated for fraud, then you have to keep up to ten previous years.

I can't tell you if their's a regulatory requirement, but I doubt you have to keep your original documents longer than that.

Answer 2

I'm not exactly sure, but hopes this helps. Fuel is considered Hazardous Material. When shipping normal hazardous material, records must be kept for 750 days to meet DOT regulations and to avoid fines and being shut down.