Oklahoma Document Organizer and Retention

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State:
Multi-State
Control #:
US-1139BG
Format:
Word; 
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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

You can contact the Oklahoma Records Management Division at (405) 521-2506. This division provides useful resources pertaining to document retention and management within the state. For additional support, integrating tools like the Oklahoma Document Organizer and Retention can streamline your document management practices.

A document retention schedule is a policy that clearly defines what documents need to be maintained and for how long. A retention policy will include all types of documents and records that are created on behalf of the company as part of its business.

6.2 Retention times for specific records are defined in Table 1, unless otherwise specified quality records shall be retained for 10 years. In no case shall the retention time be less than seven years after final payment on the associated contract.

A DRP will identify documents that need to be maintained, contain guidelines for how long certain documents should be kept, and save your company valuable computer and physical storage space.

Ultimately, Records Management ensures that institutional records of vital historical, fiscal, and legal value are identified and preserved, and that non-essential records are discarded in a timely manner according to established guidelines and identified legislation.

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.

Data retention management defines the policies of persistent data and records management for meeting legal and business data archival requirements.

Records management (RM) is the supervision and administration of digital or paper records, regardless of format. Records management activities include the creation, receipt, maintenance, use and disposal of records. In this context, a record is content that documents a business transaction.

A records management process is comprised of identifying records, classifying records, and storing records, as well as coordinating internal and external access. The process may also incorporate policies and practices on how to create and approve records, as well as the enforcement of those policies and practices.

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Oklahoma Document Organizer and Retention