“How to decide what records to keep… and what to shred!”
“Now that our taxes are done, how long do we need to keep this stuff?”
Most people are surprised to learn there are few laws dictating exactly how long all records need to be kept. Businesses have risks in not keeping files long enough and also in keeping them too long.
If you don’t have one already, it’s time to develop a records retention schedule. Decide if you are keeping files for statutory reasons, business reasons, or because “we’ve always done it this way”. A good starting place is this retention schedule suggested by the Better Business Bureau. Work closely with your attorney and accountant to develop retention rules that support your business and are legally compliant.
Once you have a policy about what records to keep and for how long, we can provide you with formal records destruction policies and procedures that will withstand an audit. See our website for a more detailed discussion on this topic and learn how we can help. Proper records destruction is an important part of your overall records management plan.
Quality Shredding specializes in setting up HIPAA and FACTA compliant records destruction programs for businesses large and small. I would be happy to schedule a free no-obligation walk-through to help you assess your records disposal situation and get you on the road to compliant destruction… and lower storage expenses!