49 C.F.R. § 1220.6 Schedule of records and periods of retention.
Title 49 - Transportation
The following schedule shows periods that designated records shall be preserved. The descriptions specified under the various general headings are for convenient reference and identification, and are intended to apply to the items named regardless of what the records are called in individual companies and regardless of the record media. The retention periods represent the prescribed number of years from the date of the document and not calendar years. Records not listed below shall be retained as determined by the management of each company. [50 FR 10775, Mar. 18, 1985, as amended at 51 FR 22083, June 18, 1986]
Title 49: Transportation
PART 1220—PRESERVATION OF RECORDS
§ 1220.6 Schedule of records and periods of retention.
Schedule of Records and Periods of Retention------------------------------------------------------------------------ Item and category of records Retention period------------------------------------------------------------------------ A. Corporate and General1. Incorporation and reorganization: (a) Charter or certificate of incorporation Note A. and amendments. (b) Legal documents related to mergers, Do. consolidations, reorganization, receiverships and similar actions which affect the identity or organization of the company.2. Minutes of Directors, Executive Committees, Do. Stockholders and other corporate meetings.3. Titles, franchises and authorities: (a) Certificates of public convenience and Until expiration or necessity issued by regulating bodies. cancellation. (b) Operating authorizations and exemptions Do. to operate. (c) Copies of formal orders of regulatory Note A. bodies served upon the company. (d) Deeds, charters, and other title papers. Until disposition of property. (e) Patents and patent records.............. Note A.4. Annual reports or statements to stockholders. 3 years.5. Contracts and agreements: (a) Service contracts, such as for Until expiration or operational management, accounting, termination plus 3 financial or legal services, and agreements years. with agents. (b) Contracts and other agreements relating Do. to the construction, acquisition or sale of real property and equipment except as otherwise provided in (a) above. (c) Contracts for the purchase or sale of Until expiration. material and supplies except as provided in (a) above. (d) Shipping contracts for transportation or Do. caretakers of freight. (e) Contracts with employees and employee Until expiration. bargaining groups. (f) Contracts, leases and agreements, not Until expiration or specifically provided for in this section. termination plus 1 year.6. Accountant's auditor's, and inspector's reports: (a) Certifications and reports of 3 years examinations and audits conducted by public accountants. (b) Reports of examinations and audits Do. conducted by internal auditors, time inspectors, and others.7. Other: (See Note A) B. Treasury1. Capital stock records: (a) Capital stock ledger.................... Note A. (b) Capital stock certificates, records of Do. or stubs of. (c) Stock transfer register................. Do.2. Long-term debt records: (a) Bond indentures, underwritings, Until redemption plus mortgages, and other long-term credit 3 years. agreements. (b) Registered bonds and debenture ledgers.. Do. (c) Stubs or similar records of bonds or Note A. other long-term debt issued.3. Authorizations from regulatory bodies for Do. issuance of securities including applications, reports, and supporting papers.4. Records of securities owned, in treasury, or Until the securities held by custodians, detailed ledgers and are sold, redeemed or journals, or their equivalent. otherwise disposed of.5. Other: (See Note A) C. Financial and Accounting1. Ledgers: (a) General and subsidiary ledgers with Until discontinuance indexes. of use plus 3 years. (b) Balance sheets and trial balance sheets 3 years. of general and subsidiary ledgers.2. Journals: (a) General journals........................ Until discontinuance of use plus 3 years. (b) Subsidiary journals and any supporting 3 years. data, except as otherwise provided for, necessary to explain journal entries.3. Cash books: (a) General cash books...................... Until discontinuance of use plus 3 years. (b) Subsidiary cash books................... 3 years.4. Vouchers: (a) Voucher registers, indexes, or Do. equivalent. (b) Paid and canceled vouchers, expenditure Do. authorizations, detailed distribution sheets and other supporting data including original bills and invoices, if not provided for elsewhere. (c) Paid drafts, paid checks, and receipts 3 years. for cash paid out.5. Accounts receivable: (a) Record or register of accounts 3 years after receivable, indexes thereto, and summaries settlement. of distribution. (b) Bills issued for collection and Do. supporting data. (c) Authorization for writing off 1 year. receivables. (d) Reports and statements showing age and Do. status of receivables.6. Records of accounting codes and instructions. 3 years after discontinuance.7. Other: (Note A) D. Property and EquipmentNote._All accounts, records, and memoranda necessary for making a complete analysis of the cost or value of property shall be retained for the periods shown. If any of the records elsewhere provided for in this schedule are of this character, they shall be retained for the periods shown below, regardless of any lesser retention period assigned1. Property records: (a) Records which maintain complete 3 years after information on cost or other value of all disposition of real and personal property or equipment. property. (b) Records of additions and betterments Do. made to property and equipment. (c) Records pertaining to retirements and Do. replacements of property and equipment. (d) Records pertaining to depreciation...... Do. (e) Records of equipment number changes..... Do. (f) Records of motor and engine changes..... Do. (g) Records of equipment lightweighed and Only current or latest stenciled. records.2. Engineering records of property changes 3 years after actually made. disposition of property.3. Other: (Note A) E. Personnel and Payroll1. Personnel and payroll records................ 1 year (Note A). F. Insurance and Claims1. Insurance records: (a) Schedules of insurance against fire, Until expiration plus storms, and other hazards and records of 1 year. premium payments. (b) Records of losses and recoveries from 1 year after insurance companies and supporting papers. settlement. (c) Insurance policies...................... Until expiration of coverage plus 1 year.2. Claims records: (a) Claim registers, card or book indexes, 1 year after and other records which record personal settlement. injury, fire and other claims against the company, together with all supporting data. (b) Claims registers, card or book indexes, Do. and other records which record overcharges, damages, and other claims filed by the company against others, together with all supporting data. (c) Records giving the details of 3 years. authorities issued to agents, carriers, and others for participation in freight claims. (d) Reports, statements and other data Do. pertaining to personal injuries or damage to property when not necessary to support claims or vouchers. (e) Reports, statements, tracers, and other 1 year. data pertaining to unclaimed, over, short, damaged, and refused freight, when not necessary to support claims or vouchers. (f) Authorities for disposal of unclaimed, 3 years. damaged, and refused freight.3. Other: (See Note A) G. Taxes1. Taxes. (Note A) H. Purchases and Stores1. Purchases and stores. (Note A) I. Shipping and Agency Documents1. Bills of lading and releases: (a) Consignors' shipping orders, consignors' 1 year. shipping tickets, and copies of bills of lading freight bills from other carriers and other similar documents furnished the carrier for movement of freight. (b) Shippers' order-to-notify bills of Do. lading taken up and cancelled.2. Freight waybills: (a) Local waybills.......................... Do. (b) Interline waybills received from and Do. made to other carriers. (c) Company freight waybills................ Do. (d) Express waybills........................ Do.3. Freight bills and settlements: (a) Paid copy of freight bill retained to support receipt of freight charges: (1) Bus express freight bills provided no Do. claim has been filed. (2) All other freight bills................. Do. (b) Paid copy of freight bill retained to support payment of freight charges to other carriers: (1) Bus express freight bills provided no Do. claim has been filed. (2) All other freight bills................. Do. (c) Records of unsettled freight bills and 1 year after supporting papers. disposition. (d) Records and reports of correction notices. 1 year.4. Other freight records: (a) Records of freight received, forwarded, Do. and delivered. (b) Notice to consignees of arrival of Do. freight; tender of delivery.5. Agency records (to include conductors, pursers, stewards, and others): (a) Cash books.............................. Do. (b) Remittance records, bank deposit slips Do. and supporting papers. (c) Balance sheets and supporting papers.... Do. (d) Statements of corrections in agents' Do. accounts. (e) Other records and reports pertaining to Do. ticket sales, baggage handled, miscellaneous collections, refunds, adjustments, etc. J. Transportation1. Records pertaining to transportation of household goods: (a) Estimate of charges..................... 1 year. (b) Order for service....................... Do. (c) Vehicle-load manifest................... Do. (d) Descriptive inventory................... Do.2. Records and reports pertaining to operation of marine and floating equipment: (a) Ship log................................ 3 years. (b) Ship articles........................... Do. (c) Passenger and room list................. Do. (d) Floatmen's barge, lighter, and escrow 2 years. captain's reports, demurrage records, towing reports and checks sheets.3. Car distribution and movement-railroads only: (a) Records of car allotment and Do. distribution. (b) Records of cars ordered, furnished and Do. loaded. (c) Records showing dates and numbers of Do. trains, initials and number of cars, movement of cars, and mileage of cars and trains. (d) Report of cars interchanged with Do. connecting lines. (e) Reports of unfilled car orders.......... 1 year. (f) Per diem and mileage reports made and 2 years. received, including reclaims and discrepancy and adjustment reports. (g) Demurrage and storage records........... Do.4. Dispatchers' sheets, registers, and other 3 years records pertaining to movement of transportation equipment.5. Import and export records including bonded 2 years. freight and steamship engagements.6. Records, reports, orders and tickets 3 years. pertaining to weighting of freight.7. Records of loading and unloading of 2 years. transportation equipment.8. Records pertaining to the diversion or Do. reconsignment of freight, including requests, tracers, and correspondence.9. Other: (See Note A) K. Tariffs and Rates1. Official file copies of tariffs, 3 years after classifications, division sheets, and circulars expiration or relative to the transportation of persons or cancellation. property.2. Authorities and supporting papers for 3 years. transportation of property or passengers free or at reduced rates.3. Records and documents required by provisions 2 years. of § 1253.20 to be maintained. L. Supporting Data for Reports and Statistics1. Supporting data for reports filed with the Surface Transportation Board and regulatory bodies: (a) Supporting data for annual financial, 3 years. operating and statistical reports. (b) Supporting data for periodical reports Do. of operating revenues, expenses, and income. (c) Supporting data for reports detailing Do. use of proceeds from issuance or sale of company securities. (d) Supporting data for valuation inventory 3 years after reports and records. This includes related disposition of the notes, maps and sketches, underlying property. engineering, land, and accounting reports, pricing schedules, summary or collection sheets, yearly reports of changes and other miscellaneous data, all relating to the valuation of the company's property by the Surface Transportation Board or other regulatory body.2. Supporting data for periodical reports of 3 years. accidents, inspections, tests, hours of service, repairs, freight car locations, etc.3. Supporting data for periodical statistical of Do. operating results or performance by tonnage, mileage, passengers carried, piggyback traffic, commodities, costs, analyses of increases and decreases, or otherwise. M. Miscellaneous1. Index of records............................. Until revised as record structure changes.2. Statement listing records prematurely For the remainder of destroyed or lost. the period as prescribed for records destroyed.------------------------------------------------------------------------Note A: Records referenced to this note shall be maintained as determined by the designated records supervisory official. Companies should be mindful of the record retention requirements of the Internal Revenue Service, Securities and Exchange Commission, state and local jurisdictions and other regulatory agencies. Companies shall exercise reasonable care in choosing retention periods, and the choice of retention periods shall reflect past experiences, company needs, pending litigation, and regulatory requirements.
