Document Destruction: What You Should and Shouldn't Destroy

Resources

BRM-Online

Document Storage

Destruction and Retention

Document Destruction: What You Should and Shouldn't Destroy

When you think of “private information,” things like bank statements, credit card statements, receipts and invoices probably come to mind. Look around your office. You probably have files upon files of business documents that you weren’t sure if you should keep or not. When it comes to these types of documents, it seems like everyone is guilty of becoming a pack rat.

Personal classified information (i.e. business proposals or ATM receipts) should be destroyed when it’s no longer needed, and documents like these are produced daily by each employee in every business setting.

With business surveillance and identity theft as fast-growing forms of fraud, it’s crucial to have a secure form of document destruction and to use it regularly. Essentially, any document that contains information that you do not want others to see should be destroyed. Without document destruction, you risk your company’s reputation and security.

Consider shredding the following information:

• Reports	• Activity sheets	• Bank statements
• Treatment programs	• Contracts	• ATM receipts
• Business proposals	• General correspondence	• Credit card statements
• Medical records or physician statements	• Disciplinary reports and promotions	• Supplier records, past and present
• Formulas and product plans	• Customer lists and contracts	• New product information
• Payroll statements	• Specification drawings	• Cancelled checks
• Budget schedules	• Corporate records	• Product tests
• Internal reports	• Strategies	• Insurance forms
• Appraisals	• Health and safety applications	• Tax preparation worksheets
• Supplier records	• Supplier purchase orders	• Investment transactions
• Strategic reports	• General proposals	• Activity sheets
• Budgets	• Payroll information	• Manuals
• Legal contracts	• Purchasing receipts	• Mail

You should also destroy any documents that contain Social Security numbers, birth dates, and any account numbers or online passwords of both customers and employees.

There are some records, however, that you should never destroy:

• Articles of incorporation	• Mortgages	• Licenses
• Audit reports of public accountants	• Correspondence (legal and important matters)	• Year-end financial statements
• Patents	• Depreciation schedules	• Year-end trial balances
• Permits	• Property records	• Deeds
• Copyrights	• General ledgers	• Trademark registrations
• Capital stock and bond registers	• Canceled checks for important payments (taxes, property acquisitions, etc.)	• Trademark registrations

Additionally, you should always keep tax returns and worksheets, revenue agent reports and other documents relating to determination of tax liability.

* The preceding article may be freely reprinted, provided:

1. The article is not edited or modified in any way.

2. The source is credited and linked: This article is provided by Business Records Management.

Email us at brmdetails@businessrecords.com for more information.

BRM values your security and privacy. Click here to read our privacy policy, .