Document Retention Policy

RAHA takes seriously it obligations to preserve information relating to litigation, audits and investigations.

The information listed in the retention schedule below is intended as a guideline and may not contain all the records RAHA may be required to keep in the future. Questions regarding the retention of documents not listed on this chart should be directed to the RAHA President.

From time to time, the RAHA President may issue a notice known as a “legal hold” suspending the destruction of records due to pending, threatened or otherwise reasonably foreseeable litigation, audits, government investigations or similar proceedings. No records specified in any legal hold may be destroyed, even if the scheduled destruction date has passed, until the legal hold is withdrawn in writing by the RAHA President.

Corporate Records

Bylaws and Articles of Incorporation - Permanent

Corporate Resolutions - Permanent

Board meeting agenda & minutes - Permanent

Finance & Administration

Financial Statements - 7 years

Tax Accountant notes - 7 years

Check register & check copies - 7 years

Bank deposits & statements - 7 years

Chart of accounts - 7 years

General ledgers & journals (bank reconciliations) - 7 years

Equipment files & maintenance records - 7 years after disposition

Contracts & agreements - 7 years after all obligations end

Correspondence – general - 3 years

Insurance Records

Policies (occurrence type) - Permanent

Policies (claims-made type) - Permanent

Accident reports - 7 years

Tax

IRS exemption determination & related correspondence - Permanent

IRS form 990s - 7 years

Technology

Software licenses & support agreements - 7 years after all obligations end

Electronic Documents and Records

Electronic documents will be retained as if they were documents. Therefore, any electronic files that fall into one of the document types on the above schedule will be maintained for the appropriate amount of time. If a user has sufficient reason to keep an email message, the message should be printed in hard copy and kept in the appropriate file or moved to an “archive” computer file folder. Backup and recovery methods will be tested on a regular basis.

Emergency Planning

The organization’s records will be stored in a safe, secure and accessible manner. Documents and financial files that are essential to keeping the organization operating in an emergency will be duplicated or backed up at least every week and maintained off-site.

Document Destruction

The RAHA President is responsible for the ongoing process of identifying its records, which have met the required retention period, and overseeing their destruction. Destruction of financial and personnel-related documents will be accomplished by shredding.

Document destruction will be suspended immediately, upon any indication of an official investigation or when a lawsuit is filed or appears imminent. Destruction will be reinstated upon conclusion of the investigation.

Compliance

Failure on the part of employees to follow this policy can result in possible civil and criminal sanctions against the organization and its employees and possible disciplinary action against responsible individuals. The RAHA President will periodically review these procedures with legal counsel or the organization’s certified public accountant to ensure they are in compliance with new or revised regulations.