Retention Periods

Generally, different files storage time limits exist for private persons and households in contrast to business documents. In General, the legal records retention periods of three years apply to households and persons, before it can be destroyed. However paid invoices may be destroyed even before the end of this records retention periods, if these have been verified before payment on their accuracy. Order to ensure possible warranty claims, however no Bill before the expiry of the statutory warranty period of two years, should be destroyed. In contrast to this carried out layoffs and whose confirmation for subscriptions of newspapers and magazines, specialist literature or insurance, can be destroyed after one year, without having this consequences to worry about. For all purchases, for which the manufacturer buyers longer than de statutory warranty periods granted, considered files storage time limits the length of Warranty claim. Once this period has passed, these receipts can be destroyed safely. Receipts should be not destroyed at all about the purchase of high-quality consumer goods, so possibly at a later sale of the replacement value of the article concerned can be demonstrated.

For important documents, as adopted pursuant to court judgments, money payments or other court documents, the records retention periods should be 30 years in the private sector. Ever be not destroyed documents such as birth certificate, marriage certificate, death certificates, registrars, certificates which confirm the graduation and the successful completion of a vocational training, as well as baptism and confirmation certificates are allowed. Permanent records retention periods also apply to all documents that are necessary for the subsequent calculation of the pension. These include above all the evidence of the exercise of all social insurance contributions activities, employment contracts and dismissals, wage and payroll, Performance certificates of the agencies for work and job Center and the annual reports to the competent social security institution (DUEVO) created by the employer. The legal records retention periods for credit contracts, bank statements, savings etc. is four years.

Documents on regular payments, including payments, above all transfers to the energy supplier, deposits on upto – and credit agreements are also this file storage. Two years should be kept receipts for one-time payments and transfers made. Here we have an overview of retention periods for records for 2012. Some files can peace of mind to perform the shredding. Balance sheets 10 years dating back to 2001 annual reports for 10 years from the year 2001 inventory list 10 years from the year 2001 tax returns 10 years dating back to 2001 Bank documents (bank statements) 10 years in 2001 computerized accounting (including manuals) 10 years in 2001 The accounting documents 10 years from the year 2001 invoices (input and output) 10 years from the year 2001 posting documents 10 years from the year 2001 process files for 10 years from the year 2001 books 10 years from the year 2001 sales books 10 years from the year 2001 land registry excerpts 10 years from the year 2001 extracts commercial register 6 years from the year 2005 trade letters (business letters) 6 years from the year 2005 contribution reports of social security 10 years from the year 2001 documents about Employees insurance 10 years from the year 2001 insurance 6 years from the year 2005 C.Reinhardt.

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