How long should you retain records? · United States

Practical answers about travel, receipts and expenses for your business.

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Your questions, in practice · United States

How long must expense evidence be retained?

The IRS generally requires return evidence for 3 years. Some situations require 6 or 7 years, or indefinite retention. Asset records remain necessary while they establish its tax basis.

How long should invoices and expense claims be kept?

The IRS generally requires return evidence for 3 years. Some situations require 6 or 7 years, or indefinite retention. Asset records remain necessary while they establish its tax basis. Also retain attachments, approvals and calculations. A totals spreadsheet does not replace invoices.

Official sources and reference period

Amounts apply to the periods specified in the answers. The official texts below explain the conditions and exceptions.

These answers describe general rules for the selected country and stated periods. They are not personalised legal, tax or accounting advice. Your accountant can help apply them to your business.