Destroying records

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PLitada
Posts: 12
Joined: Wed Mar 13, 2013 12:48 pm

Destroying records

Post by PLitada »

Can someone please tell me how long a church is required to keep financial records as well as contribution records? I'm thinking anything beyond 7 years can be shredded but I was kind of thrown into this job so I am still learning day by day. We have boxes and boxes of bills and contribution envelopes that date back 20 years sitting in an attic and for the life of me I can't see that they are serving any purpose. Any help would be greatly appreciated.

NeilZ
Posts: 9744
Joined: Wed Oct 08, 2003 1:20 am
Location: Monett MO
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Re: Destroying records

Post by NeilZ »

PLitada wrote:
Sun May 15, 2022 1:02 pm
Can someone please tell me how long a church is required to keep financial records as well as contribution records? I'm thinking anything beyond 7 years can be shredded but I was kind of thrown into this job so I am still learning day by day. We have boxes and boxes of bills and contribution envelopes that date back 20 years sitting in an attic and for the life of me I can't see that they are serving any purpose. Any help would be greatly appreciated.
I'll refer you to the chart on page 26 in IRS Pub 1828:

Code: Select all

TYPE OF RECORD                               LENGTH OF TIME TO RETAIN
Records of revenue                            Retain for at least four
and expenses,                                   years after filing the
including payroll                                returns to which they
records.                                            relate.
I usually suggest that you retain at least 7 years of records. As far as contribution envelopes, I suggest trashing them as soon as the entry is made and verified by the contribution entry team. There's really no need to retain those since the data is now in the system.

I'd run anything you do past your finance or stewardship committee first, but I'd also print off the IRS pub for support.
Neil Zampella

Using PC+ since 1999.

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