Record Retention Policy 

Purpose: 

The purpose of this policy is to establish guidelines for the retention, storage, and destruction of records in compliance with legal, regulatory, and business requirements. The policy ensures that all records are maintained appropriately to support organizational functions.

This policy applies to all records created, received, or maintained by the organization in any format, including paper, electronic, or other media.

Policy Statement:

The organization will retain records for a minimum of 5 years, or longer if required by law, regulation, or contract. All records must be managed in a manner that ensures their accessibility, integrity, and confidentiality throughout their retention period.

Specific Documentation to be Retained:

-Records of Participation: Retain records documenting participants' engagement in programs for at least 7 years.

- Dates and Locations of Program Offerings: Retain documentation of the dates and locations of all program offerings for at least 7 years.

-Author/Instructor, Author/Developer, and Reviewer Information: Retain the names, credentials, and relevant licensure information of all authors, instructors, developers, and reviewers associated with each program for at least 7 years. This includes:

 - For CPAs and tax attorneys: state of licensure, license number, and license status.

 - For enrolled agents: enrolled agent number.

- CPE Credits Earned: Retain records of the number of Continuing Professional Education (CPE) credits earned by participants for at least 7 years.

- Results of Program Evaluations: Retain the results of all program evaluations for at least 7 years.

- Program Descriptive Materials: Retain all program descriptive materials, including course announcement information, for at least 7 years.

 Record Retention Schedule: 

- Financial Records: Retain for 7 years after the end of the fiscal year.

- Legal Documents: Retain permanently or as required by law.

- Human Resources Records: Retain for 7 years after termination of employment.

- Program Records: Retain for 7 years following the completion of the course or program.

Storage and Access: 

Records should be stored in secure, accessible locations. Access to records should be restricted to authorized personnel only. Electronic records must be stored with appropriate data security measures, including encryption and regular backups.

Destruction of Records: 

Records that have reached the end of their retention period will be reviewed for destruction. Destruction of records must be performed in a manner that ensures the information cannot be reconstructed, such as shredding for paper records or secure deletion for electronic records.

Responsibility: 

The responsibility for implementing and maintaining this policy lies with the Program Manager. It is their duty to ensure compliance with this policy and to review and update the Record Retention Schedule as necessary.

Review: 

This policy will be reviewed annually to ensure it continues to meet legal, regulatory, and business requirements.