Records Retention Timetable

Certain pieces of the PTA’s historical records and documents will need to be maintained as indicated in the schedule below.

Permanent

• Conformed Articles of Incorporation/Amendments/ Restatements
• Certificate of Incorporation
• Contracts currently in effect
• Legal correspondence
• Documentation of equipment currently owned by PTA  (asset list with the depreciation of 20% per year)
• Minutes (board & membership meetings)
• PTA Charter
• Current Local PTA Bylaws
• Current Standing Rules, policies, written procedures
• Letter of Determination of Tax-Exempt Status from IRS
• Letter assigning Employer Identification Number (EIN)
• Correspondence with IRS
• Forms 990/990N/990EZ and 990-T (to report unrelated business income if applicable) with IRS
• Membership/Board roster
• Completed Form 1023 or 1024 (application for tax exemption and all documents submitted in support of application)

Ten Years

• Annual reports
• Biennial Registration for Charities Registration
• Annual financial review reports
• Annual treasurer’s reports

Seven Years

• Accounts payable records
• Budgets
• Canceled checks
• Check register
• Monthly financial reports
• Income records
• Receipts/invoices
• Restricted Donation Form (grant agreement)
• Contracts signed during the previous six years but no longer in effect

Three Years

• Correspondence (general)
• Insurance certificates
• Financial and insurance matters