Retention of Documents?

Question

Can anyone tell me the law on this? or tell me where I can find out?

I havn't had much look looking myself

Thanks

Answer 1

If you are wondering about retention of personal documents and records, including information dealing with income taxes, click here: http://www.lifeorganizers.com/office/records-retention.htm

The answer varies by state and the type of document. In Pennsylvania, record retention for insurance companies was recently changed: http://www.pabulletin.com/secure/data/vol35/35-39/1798.html

For matters relating to corporate income tax returns in Pennsylvania, it is three years: http://members.aol.com/StatutesP9/72PA7409.html

For medical record retention, click here for a state-by-state guide: http://www.ahca.org/hipaa/state_mr_retention_laws.pdf

For retention of municipal records in Pennsylvania, click here: http://www.phmc.state.pa.us/bah/RecordsMgnt/MunicipalManual/chap1.pdf

Record retention of nonprofit organizations: http://www.panonprofitreport.com/archives/02mar_records.html

Record retention requirements under United States Federal law: http://www.mgtdevspec.com/records_retention.htm

Answer 2

Even though all states have document retention and disclosure laws (usually within the Administrative Codes) many “smoking gun” documents magically disappear from “mandatory retention” nationwide. Look under State Administrative Codes, and in some cases Statutory Law.

Answer 3

This is governed by state law except for tax returns. Your state statutes will have a lot of record retention laws and there's a great variety in my state on how long you have to retain records--ranging from 3 years to forever. I don't think we can answer this unless we know what state you are from.

Answer 4

The term retention means hanging onto, or retaining.
This is covered by a broad amount of various laws and situations, none that would help you without more specifics.