Make documents Sign documents Start a business Ask a lawyer Group Legal Benefits Pricing HELP Maintain corporate records It's important to maintain your financial, tax and HR records. Legal documents ⌃ Business and contracts ⌃ Business operations ⌃ Maintain corporate records Documents Corporate Minutes Record what was discussed in official meetings Corporate Resolution Record a major decision at a shareholder meeting Board Resolution Keep a record of important decisions Certificate of Incumbency Verify roles of officers in a corporation Notice of Meeting Notify co-owners or board members of a meeting Corporate Proxy Allow someone to vote on your behalf at a meeting Waiver of Notice Waive your right to be notified of meetings Unanimous Consent Record official actions without formal votes Business Fact Sheet Organize and update business information Corporate Records Document important company information Affidavit of Lost Corporate Document Verify loss or replacement of a corporate document Voter Agreement Document voting intentions in writing Maintain corporate records FAQs What are corporate records? Corporate records are the documents that show to the IRS and local governing agencies that your business is following required laws. Your corporate records may include: Articles of incorporation Bylaws Notes from annual shareholder and director meetings A list of stock owners, stock dividend information, and stock transactions Records of all types of resolutions (hiring, loans, employee benefits) Transactions including records of property sales and purchases Information about large layoffs, market expansions, and new locations Tax records Documents required by your state and local government Basically, you should save all business documents in case you need to prove your business is following the laws or if your business is audited by the IRS. Documents can be stored as paper copies, on a hard drive, or in the cloud. You should always backup your files in a secure location. How long do I need to keep my business tax records? You may hear different answers to this question. To err on the side of caution, you should keep your business tax records for seven years. It is recommended that you keep a copy of your business returns longer. Some may say you can destroy the records sooner, but seven years will, in most cases, protect you should an issue arise. What documents should my business shred? Shredding documents can help you protect your client's information as well as your proprietary business information. For the most part, you should shred any document that you plan on throwing away. You should take extra effort to shred documents that may contain information such as Social Security numbers, credit card information, employee's private health information, payroll information, marketing strategies, new product information, protected vendor or client information, and more. You should also make sure to destroy or wipe electronic copies of the documents as well. Sensitive files saved on portable devices such as laptops, mobile phones and tablets should be password protected and encrypted. How long do I need to save employment records? Like tax records, it's best to store employment records longer than you may want to in order to protect yourself. Some say as long as five years after an employee is terminated. Federal, state, and local requirements may vary, but five years should cover most requirements. If your business operates in numerous regions, you may benefit from hiring an employment lawyer that knows the local laws well. Are my business tax records publicly available? Many of your business documents are available to the public. With a minimal amount of effort, curious searchers could find your business license information, creditor information, lien information and more. Can people see an actual copy of your return? No, corporate tax returns are not public records. You can find more information if the company is publicly traded. Ask a lawyer Our On Call attorneys are here for you. Input your question here Characters remaining: 600 Rocket Lawyer On Call® Attorneys Legal guides How To File Annual Reports for Your Company 2 min read What Is a Board Resolution? 2 min read What Is a Breach of Fiduciary Duty and How to Avoid It 2 min read How Long to Keep Corporate Records 2 min read Does your C-Corp or S-Corp Need to Keep Minutes? Corporate Meeting Minutes Requirements by State 2 min read How Long to Keep Records for Business Taxes 2 min read What Is a Statement of Information? 3 min read What Is Piercing the Corporate Veil? 3 min read Do I Need an Administrative Lawyer? 2 min read Types of Records to Keep for Business Taxes 2 min read What Are Meeting Minutes? 2 min read Benefits of Keeping Records 1 min read Corporate Meetings - Unanimous Consent 1 min read Corporations - Public Records 1 min read Keeping Corporate Minutes 1 min read Organize and Conduct Corporate Meetings 3 min read Meeting Minutes and the Protection of Assets 1 min read "The biggest benefit of using Rocket Lawyer is peace of mind—it's priceless to us as small business owners. We would definitely recommend Rocket Lawyer." Kim B. & Carole S. Rocket Lawyer members since 2012 Looking for something else? 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