This tool contains two sample policies that establish standards and procedures for the retention of electronic and paper records. Because of legal, tax and financial reporting requirements, the company must retain certain financial and nonfinancial records for various lengths of time. It is also important to consider employee access to these documents.
In these samples, the company retains records in an orderly fashion for time periods that comply with legal and government requirements. The actual record retention period is based on local requirements and practices, and in no case should records be destroyed before the recommended retention period or before local statutory requirements.