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Records Retention Policy
Free records retention policy template establishing how long a company keeps different categories of business records before disposal.
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This free records retention policy covers Purpose, Retention Schedule, Litigation Hold, Disposal Method with 4 clearly marked [placeholder] fields to fill in — built for individuals and small businesses handling a straightforward legal document themselves needing a clear, professional document without commissioning custom legal drafting for a routine situation. Copy it into your own word processor, fill in the placeholders, and review it — or adapt it — before use. It's part of docstoc's free document template library, alongside business, legal, real estate, finance, and HR templates. Every template here is free to copy with no signup required, and each one carries a plain disclaimer: this is a starting point for informational purposes, not a substitute for advice from a licensed professional in your jurisdiction.
Records Retention Policy
Company: [Company Name] · Effective Date: [Date]
Purpose
This policy establishes minimum retention periods for company records, balancing legal/regulatory requirements against unnecessary storage of outdated information.
Retention Schedule
| Record Category | Retention Period | Notes |
|---|---|---|
| Tax records | 7 years | Per IRS guidance |
| Employee personnel files | 7 years after termination | Confirm state-specific requirements |
| Contracts | 7 years after expiration | Longer for real estate/high-value contracts |
| Financial statements | Permanent | |
| Accounts payable/receivable | 7 years | |
| Insurance policies | Permanent (while active) + 7 years after expiration | |
| Board minutes/corporate records | Permanent | |
| Email/general correspondence | [Period, e.g. 3 years] | Unless subject to litigation hold |
Litigation Hold
Any record subject to actual or reasonably anticipated litigation, audit, or investigation must be preserved regardless of this schedule, until the hold is lifted by [Legal Counsel/designated officer].
Disposal Method
Records past their retention period should be disposed of securely — shredded (physical) or permanently deleted (digital) — and disposal should be documented for records containing sensitive information.
Adopted by: ______________________ Date: ____________
*This document is provided for informational and educational purposes only and does not constitute legal advice. Retention periods vary by record type, industry, and jurisdiction — confirm the specific requirements that apply to your business (tax, employment, and industry-specific regulations often set different minimums) before finalizing this schedule.*
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What's included
- Edit online — click the document, fill in placeholders, download a PDF
- 4 standard sections: Purpose, Retention Schedule, Litigation Hold, Disposal Method
- 4 clearly marked [placeholder] fields for quick personalizing
- Free to use — no account or signup required
- Fully editable — adjust any clause to match your actual situation
- Includes a signature block, ready to print or sign digitally
- Fixed docstoc.io footer on every PDF (not removable)
Who this template is for
Freelancers & solo founders
Handling routine business paperwork without commissioning custom legal drafting for every document.
Small businesses
Standardizing recurring documents — leases, agreements, notices — across a growing operation.
Anyone reviewing before signing
Using a clear starting structure to understand what a document should cover, even if a lawyer finalizes it.
Before involving a lawyer
A solid starting draft to review with counsel, or to use directly for a low-stakes situation.
FAQ
Is this records retention policy template really free?
Yes — this Records Retention Policy template on docstoc is free to view, edit online, and download as a PDF with no account or signup required.
What does this records retention policy cover?
This legal template includes Purpose, Retention Schedule, Litigation Hold, Disposal Method. Fill in the [bracketed] placeholders, edit any clause online, then download a PDF — the docstoc.io footer stays on every export.
Is this legal advice?
No. This template reflects common practice, not your jurisdiction's specific requirements. Legal formalities (required language, witness or notarization rules, filing steps) differ by state and sometimes by county — confirm them with a licensed attorney before this document does any real work.
Can I edit the wording?
Yes. All 4 placeholder fields and every clause are editable right on the page — change what doesn't fit, then download an updated PDF anytime.
Where can I find more free templates like this?
Browse more free legal and related document templates in the docstoc library at /document-templates/.
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