Arkansas Document Organizer and Retention

Category:
State:
Multi-State
Control #:
US-1139BG
Format:
Word; 
Rich Text
Instant download

Description

Many financial experts recommend that you keep your personal documents in a safe deposit box and a home file. As a general rule, keep any item in your safe deposit box if: (1) it must be used to prove ownership in case of an insurance loss; (2) it must be used to claim a future benefit, such as a pension; (3) it is small and valuable and you do not use it often; or (4) it is difficult to replace and you do not use it often. Be sure to check with your bank about any state laws which may limit access to your safe deposit box. For example, some states, for estate tax purposes, seal the box after the owner's death. Under what conditions can your heirs open your box? How long must they wait? Do you have a co-owner or co-signer for your safe deposit box?
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FAQ

Document retention guidelines typically require businesses to store records for one, three or seven years. In some cases, you will need to keep the records forever.

A document retention policy is also referred to as a records retention policy, records and information management policy, recordkeeping policy, or records maintenance policy. It codifies an organization's expectations for how its data is handled, from creation to destruction.

A document retention policy (also known as a records and information management policy, recordkeeping policy, or a records maintenance policy) establishes and describes how a company expects its employees to manage company data from creation through destruction.

Document retention is a system that allows you and your employees to automatically create policies and determine what should be done with particular documents or records at a certain point of time.

A document retention policy identifies confidential information and categorizes it by how and where documents are stored (electronically or in paper) and the required retention period based on federal, state, and other regulatory requirements.

Document retention guidelines typically require businesses to store records for one, three or seven years. In some cases, you will need to keep the records forever. If you're unsure what to keep and what to shred, your accountant, lawyer and state record-keeping agency may provide guidance.

How long should I keep employee personnel files? You should keep an employee's personnel files for six years after the employee has left your organisation. The reason for this is that up until six years has passed, the former employee may sue you for breach of contract in the county court.

Employment certificates for workers under the age of 16, except for newspaper carriers and batboys and batgirls, must be kept. To be retained. Documents must be kept on file for a minimum of 3 years (AR Code Sec. 11-6-109; Ark.

Issues covered: Employee files should be retained for the duration of the contract of employment and for a period of 7 years post-termination thereafter.

A retention period (associated with a retention schedule or retention program) is an aspect of records and information management (RIM) and the records life cycle that identifies the duration of time for which the information should be maintained or "retained," irrespective of format (paper, electronic, or other).

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Arkansas Document Organizer and Retention