How Long Should You Keep Business Records?

Article courtesy Yeo & Yeo

The retention of tax and business records depends on the nature of the information and how it is used. This schedule has been developed as a guide only. Various regulatory, statutory and industry practices may supersede these general recommendations and alter the holding period.

Consult legal counsel before destroying records if you are uncertain and before implementing any business record retention policy. This schedule applies to both paper and electronic resources.