Record Retention Guidelines for Chapters
May 1, 2001
This material is presented for the purpose of assisting chapters in dealing with the issue of record retention and is not intended to constitute legal or tax advice. Questions with regards to disposal of specific records should be directed to legal counsel or tax consultants.
|Articles of Incorporation & Certificate||Permanent|
|Audited year-end financial statements||Permanent|
|Chapter Board of Directors Meeting Minutes||Permanent|
|Chapter Bylaws - Original & all amendments||Permanent|
|Chapter Meeting Minutes||Permanent|
|Year-end investment statements||Permanent|
|Annual corporate report to state/provincial government||As required by state/provincial law
|Canadian T2 or T2 Short – T1044||As required by law
|IRS Form 990 or 990-EZ*||4 years
|Bank statements, cancelled checks, vendor invoices*||4 years
|Annual roster of Chapter Officers|| As desired for historical value
(3 years suggested)
|Chapter Committee Meeting Minutes||As desired for historical value
|Correspondence, program materials||As desired for historical value
*Chapters may be audited by the IRS up to 3 years from the date the annual return was due. For this reason, it is prudent to retain any records that may be required for such an audit for a period of 4 years.
To facilitate future destruction, it is recommended that records be stored with a “destroy date” to avoid having to review materials prior to disposal.