How Long Should I Keep That Information?
“How long do we need to keep …” is a question we often hear from clients. No one wants to keep more paper than they need to, and no one wants to be missing that one piece of paper when they need it. A.J. Johnson of A.J. Johnson Consulting Services, Inc. provided the following list of records common to affordable housing developments and how long they should be retained.
• Guest Cards: Three years after date of visit
• Unit Availability Logs: Three years from date of log
• Phone logs: Three years from date of log
• Rejected Applications: Three years from rejection date
• Resident files: Three years from date of move-out
• LIHTC Initial Resident Files: 21 years after first year of credit period
• Employment records: Three years from end of employment
• Incident Reports: Five years from date of incident
• Service Request Logs: Five years from date of request
• Employee Injury Reports: Five years from date of injury
• Vendor Records: Seven years from purchase of goods
The information presented in this post is intended solely for informational purposes and should not be construed as accounting advice from McKonly & Asbury, LLP.
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