Navigate The River Of Paperwork With A Record Retention Policy
Maybe you think your company is drowning in a river of old paperwork. The more you shred or toss, the better, right? Actually, no. Think twice before you chuck overboard those 20-year-old workers' compensation policies or defunct contracts.
Federal and state laws require you to retain records for varying time periods. The Internal Revenue Service (IRS), Occupational Safety and Health Administration (OSHA), and other agencies also have record retention regulations with stiff penalties for noncompliance.