Many of our clients reach out to us inquiring about how long to keep their tax-related records and other business or personal documents.

Record retention timeframes vary based on the type of document, the nature of the information held and the event it is used support.  For a summary of recommended document retention periods for business records (e.g., AP/AR ledgers, corporate charter, personnel documents, legal correspondence, financial statements, etc.) and individual documents (e.g., birth certificates, contracts, mortgages, etc), visit the Record Retention Guidelines chart provided on the the Illinois CPA Society website.