Louisiana Finance Association

Strength Through Association

Record Retention Guidelines

Records Retention Schedule

For Businesses

It is important to hold onto your business records in case of an IRS audit or other examination. Retaining unnecessary records will soon exceed storage space available for most businesses. Therefore, you may wish to establish a retention schedule that takes into account state and federal regulations, as well as industry standards. To get a copy of the record retention guidelines please visit the LFA website home page and click on Record Retention under latest news.  These guidelines are courtesy of Postlethwaite & Netterville, if you have questions about destroying any tax or accounting records, please contact P&N at 225.922.4600.  The retention periods are intended as a general guideline, which applies to both paper and electronically stored records.

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