Re: Data Retention Policy

[Jim Oberholtzer <midrangel@xxxxxxxxxx>]

Having done two or three of these same types of assessments in the 
recent past I found there were only two factors that matter in a 
data/document retention policy.  First, what is corporate council 
willing to defend in court, and second how much money is senior 
corporate leadership willing to spend in discovery in the event of legal 
action.

My experience says tax records need to be kept per IRS guidelines and 
contracts/legal agreements until the end of the limitations statues that 
apply and most of the legal council I have encountered agree with that.  
Most have set email and other electronic retention periods to very short 
intervals (60 days to 365 days) and enforce it electronically.  I have 
seen document/data retention policies from as little as 60 days to over 
3 years, but most of my clients want to limit the ability of a legal 
aggressor to perform discovery so, it is back to the attorneys you go.

Things like summary sales history and trending that do not have specific 
information can be kept as long as is warranted.

Bottom line is, it depends........

Jim Oberholtzer
CEO/Chief Technical Architect
Agile Technology Architects, LLC


On 7/20/2010 6:55 AM, Robert Munday wrote:
> *This message was transferred with a trial version of CommuniGate(r) Pro*
>     Greetings from sunny Florida.
>
>     I am charged with codifying our company's data retention policy.  The
>     official company policy document lists most of our data media as having a
>     seven year retention.  This also mirrors what the IRS requires from what I
>     have been able to research.  Upper management does not agree with seven
>     years and thinks it's a lower figure.
>
>     What is your company's data retention policy?  Other than IRS.gov, where
>     can I find a definitive answer to the time interval required?
>
>     Please reply to my work address at RMunday@xxxxxxxxxxxxx as I do not have
>     access to my online e-mail at work.
>
>     Thanks,
>
>     Robert Munday
>     Munday Software Consultants
>     Montgomery, AL
>     on assignment in Jacksonville, FL
>