RAHA
Records Retention Policy
RAHA takes seriously it obligations to preserve information relating to litigation, audits and investigations.
The information listed in the retention schedule below is intended as a guideline and may not contain all the records RAHA may be required to keep in the future. Questions regarding the retention of documents not listed on this chart should be directed to the RAHA President.
From time to time, the RAHA President may issue a notice known as a “legal hold” suspending the destruction of records due to pending, threatened or otherwise reasonably foreseeable litigation, audits, government investigations or similar proceedings. No records specified in any legal hold may be destroyed, even if the scheduled destruction date has passed, until the legal hold is withdrawn in writing by the RAHA President.
| File Category |
Item |
Retention Period |
| Corporate Records |
Bylaws and Articles of Incorporation |
Permanent |
| |
Corporate Resolutions |
Permanent |
| |
Board meeting agenda & minutes |
Permanent |
| Finance & Administration |
Financial Statements |
7 years |
| |
Tax Accountant notes |
7 years |
| |
Check register & check copies |
7 years |
| |
Bank deposits & statements |
7 years |
| |
Chart of accounts |
7 years |
| |
General ledgers & journals (bank reconciliations) |
7 years |
| |
Equipment files & maintenance records |
7 years after disposition |
| |
Contracts & agreements |
7 years after all obligations end |
| |
Correspondence – general |
3 years |
| Insurance Records |
Policies – occurrence type |
Permanent |
| |
Policies – claims-made type |
Permanent |
| |
Accident reports |
7 years |
| Tax |
IRS exemption determination & related correspondence |
Permanent |
| |
IRS form 990s |
7 years |
| Technology |
Software licenses & support agreements |
7 years after all obligations end |
- Electronic Documents and Records
Electronic documents will be retained as if they were documents. Therefore, any electronic files that fall into one of the document types on the above schedule will be maintained for the appropriate amount of time. If a user has sufficient reason to keep an email message, the message should be printed in hard copy and kept in the appropriate file or moved to an “archive” computer file folder. Backup and recovery methods will be tested on a regular basis.
- Emergency Planning
The organization’s records will be stored in a safe, secure and accessible manner. Documents and financial files that are essential to keeping the organization operating in an emergency will be duplicated or backed up at least every week (currently ours is backed up every night with an alternate backup kept off site) and maintained off-site.
- Document Destruction
The RAHA President is responsible for the ongoing process of identifying its records, which have met the required retention period, and overseeing their destruction. Destruction of financial and personnel-related documents will be accomplished by shredding.
Document destruction will be suspended immediately, upon any indication of an official investigation or when a lawsuit is filed or appears imminent. Destruction will be reinstated upon conclusion of the investigation.
- Compliance
Failure on the part of employees to follow this policy can result in possible civil and criminal sanctions against the organization and its employees and possible disciplinary action against responsible individuals. The RAHA President will periodically review these procedures with legal counsel or the organization’s certified public accountant to ensure they are in compliance with new or revised regulations.
