Staying on top of your recordkeeping requirements can feel like a job all on its own, especially when it comes to figuring out how long you need to keep each type of document your business creates. State records retention schedules are supposed to help simplify these decisions, but understanding them, and staying compliant with them, can be confusing if you’re not sure where to start.
In this article, we will explain what state records retention schedules are, why they matter, and how they impact your business. We’ll also cover how digitizing your documents can help you manage these requirements more easily while keeping your records organized and accessible.
What Are State Records Retention Schedules?
Each state has its own guidelines for how long different types of business records need to be kept. These guidelines, known as records retention schedules, outline the minimum amount of time you’re expected to keep documents like employee files, tax records, financial statements, and contracts.
Retention schedules exist to help businesses stay compliant with state regulations, prepare for audits, and reduce the risks tied to keeping documents longer than needed. Some records only need to be kept for a few years, while others may need to be retained permanently, depending on the type of document and the state you operate in.
Why Retention Requirements Vary by State
Each state sets its own rules for how long different types of records need to be kept, depending on its laws, the kind of records in question, and your industry. For example, one state might require you to keep payroll records for three years, while another might expect you to keep them for six.
Some states keep their guidelines close to federal requirements, while others have additional rules that businesses need to follow if they operate there. If you do business in more than one state or handle records for clients across different locations, it can be hard to figure out which rules apply to which records. This is why it’s important to review the specific retention guidelines for each state where you operate to avoid keeping documents longer than needed or getting rid of them too soon.
Who Do State Retention Schedules Apply To?
State records retention schedules apply to just about any organization that creates and keeps records as a part of doing business. This includes public agencies, private businesses, schools, and nonprofits.
For businesses, these rules help ensure important financial, employee, and operational records are kept for the right amount of time to meet tax, legal, and regulatory requirements. Schools and nonprofits also need to follow these guidelines when managing records like student files, donor information, or financial documents tied to grants and fundraising.
Even if you’re running a small business or nonprofit, it’s important to understand your state’s requirements so you can keep the records you need, safely dispose of what you don’t, and avoid the risk of fines or compliance issues down the line.
Records Retention Guidelines By State
Going directly to your state’s official website can save you time and help you avoid costly mistakes. Below, you’ll find direct links to records retention guidelines for each state, making it easier to find the rules that apply to your business or organization.
Whether you’re setting up a new records management process or reviewing your current system, these resources can help you stay compliant and confident in your recordkeeping practices.
Why Digitizing Your Records Makes Retention Easier
Meeting your retention requirements is a lot more difficult when you’re managing a room full of paper records. Digitizing your documents can make this process easier by allowing you to:
- Sort documents by type and retention period
- Set reminders for when documents are ready for secure disposal
- Keep records organized and easy to find for audits or client requests
- Free up the physical space taken up by archived documents
Creating a digital backup of your records also helps you preserve important information in case documents are lost or damaged, ensuring you can meet your retention requirements no matter what happens.
Simplify Records Retention with SecureScan
Meeting your retention requirements doesn’t need to be stressful. For more than 22 years, SecureScan has been helping businesses digitize and organize their records, making it easier to stay compliant with state retention guidelines while keeping documents secure and accessible.
Whether you need to scan years of archived files or set up a system for managing documents as they come in, our secure scanning services are designed to fit your needs and simplify your recordkeeping process.
If you’re ready to make retention management easier, contact us to learn more or get a free quote from one of our scanning specialists.