Six Key Steps to Developing a Record Retention Policy STEP 1: Identify Types of Records & Media. STEP 2: Identify Business Needs for Records & Appropriate Retention Periods. STEP 3: Addressing Creation, Distribution, Storage & Retrieval of Documents. STEP 4: Destruction of Documents. STEP 5: Documentation & Implementation.
Assign retention labels and archive policies Go to the Microsoft 365 sign-in page. In the message list or the folder pane, right-click the message or folder that you want to assign a policy to, then select Assign policy. Select the retention label or archive policy you want to assign to the message or folder.
On the Data lifecycle management page, click the Retention policies tab, then click New retention policy. In the Name field, give your new retention policy a descriptive name. Choose the type of retention policy: adaptive or static. Decide if you want to retain content, delete it, or both.
Retention periods refer to how long you should keep physical or electronic documents before you destroy them. Different document types have varying retention requirements dictated by legal, regulatory or business considerations.
Record Retention Schedule for Businesses DocumentRetention Period Contracts and leases (expired) 7 years Correspondence, general 2 years Correspondence, legal and tax related Permanently Deeds, mortgages and bills of sale Permanently36 more rows
(2) Institutions need not preserve or retain any of their records or copies thereof for a period longer than is expressly required by an applicable statute or rule or regulation of this state or the United States which identifies, either specifically or by type or category, the relevant records or copies thereof or, if ...
Most email must be retained for three years. It is the responsibility of each employee to insure that their emails are retained in ance with the records schedules. Failure to follow these retention policies can subject the employee to sanctions, including monetary and criminal penalties.
560.1105 Records retention. —Each licensee and its authorized vendors must maintain all books, accounts, documents, files, and information necessary for determining compliance with this chapter and related rules for 5 years unless a longer period is required by other state or federal law.
Criminal Statute of Limitations in Florida Type of CrimeStatute of Limitations First-degree misdemeanors 2 years Third-degree felonies 3 years Second-degree felonies 3 years (with exceptions) First-degree felonies 4 years (unless otherwise specified)2 more rows •
State statute requires the automatic preservation of any physical evidence related to the conviction of an individual for a felony offense. The evidence must be preserved for the length of their sentence, or 60 days after the execution of a sentence (when the death penalty is imposed).