Rivers Bend Shredding Event Information

It is important to have documents professionally shredded because it helps to ensure the security of sensitive and confidential information. Simply throwing away or recycling documents can leave them vulnerable to theft, fraud, or misuse.

Professional shredding services use specialized equipment to thoroughly destroy documents, making it nearly impossible for anyone to access the information contained within them. This is particularly important for sensitive information such as personal or financial data, medical records, or legal documents.

Document retention policies are important for individuals and organizations alike. They provide guidance on what documents should be kept, for how long, and how they should be disposed of. Legal documents, in particular, are critical to keep for a specific period of time to comply with legal and regulatory requirements. This blog post will provide guidance on the timelines for various legal documents that should be kept before shredding and disposing of them.

1. Tax Returns and Supporting Documents

Tax returns and supporting documents should be kept for at least three years from the date they were filed or due, whichever is later. The IRS has up to three years from the date you filed your tax return to audit you, so it’s important to keep these documents on hand in case of an audit. However, it’s recommended to keep them for up to seven years in case of a mistake or fraud.

2. Employment Records

Employment records should be kept for at least four years after an employee has left the company. These records include employment contracts, performance evaluations, disciplinary actions, and termination documents. In addition, employers must retain I-9 forms for three years after an employee is hired, or one year after employment ends, whichever is later.

3. Corporate Records

Corporate records, including articles of incorporation, bylaws, and minutes of board meetings, should be kept permanently. These documents are necessary for establishing the legal structure of a business and demonstrating compliance with legal requirements.

4. Real Estate Documents

Real estate documents, such as deeds, leases, and mortgages, should be kept for as long as you own the property. In addition, any documents related to the purchase, sale, or improvement of the property should be kept for at least seven years after the property is sold.

5. Legal Correspondence

Legal correspondence should be kept for at least seven years after the matter is closed. This includes letters, emails, and other documents related to legal disputes or transactions.

6. Insurance Policies

Insurance policies should be kept for the duration of the policy, and for at least three years after it expires. In addition, any claims related to the policy should be kept for at least seven years after the claim is settled.

7. Retirement and Investment Records

Retirement and investment records, such as IRA contributions and investment statements, should be kept for at least seven years after the account is closed or transferred. These documents are necessary for tax purposes and to prove ownership of the account.

In conclusion, document retention policies are crucial to ensure that legal and regulatory requirements are met. It’s important to keep records for the recommended period of time before shredding and disposing of them. By following these guidelines, individuals and organizations can protect themselves from legal and financial consequences.