Sarbanes-Oxley Act (SOX): Federal legislation requiring retention of financial and corporate records for a minimum of 7 years for audit records. Critical for corporate financial accountability.
Fair Labor Standards Act (FLSA): Federal law mandating retention of employment and payroll records for 3 years, including collective bargaining agreements and wage calculations.
EEOC Regulations: Federal requirements for maintaining personnel records and employment applications, typically for 1 year after termination of employment.
IRS Requirements: Federal tax regulation requiring retention of tax records and employment tax records for generally 7 years.
HIPAA: Federal healthcare privacy law governing medical records retention and privacy requirements for protected health information.
Federal Rules of Civil Procedure (FRCP): Federal rules governing electronic stored information (ESI) requirements and electronic communications retention for legal proceedings.
SEC Requirements: Financial industry-specific regulations for securities-related record keeping and retention requirements.
FINRA Regulations: Financial industry rules governing broker-dealer record retention and maintenance requirements.
Federal Acquisition Regulations (FAR): Specific retention requirements for government contractors and federal procurement records.
State-Specific Requirements: Various state laws governing record retention, including state tax requirements and employment laws that may exceed federal requirements.
Statute of Limitations Considerations: Legal time limits for contract claims, employment claims, and tort claims that influence retention periods.
Privacy Laws: Including GDPR for EU data and state privacy laws like CCPA, governing how personal data must be retained and protected.
