Wash. Admin. Code § 480-70-061

Current through Register Vol. 24-23, December 1, 2024

Section 480-70-061 - Records retention

(1) General provisions. A company must keep all business records and reports for at least three years following the date those documents are created unless otherwise specified in these rules or unless a longer retention period is required by another governmental body.

(2) Retention schedule table. The following schedule shows periods that companies must preserve various records.

Type of Record:		Retention Period:
1.	Corporate and General Records:
A.	Incorporation and reorganization records including:
(a)	Charter or certificate of incorporation and amendments;
(b)	Legal documents related to mergers, consolidations, reorganization, receiverships and similar actions that affect the identity or organization of the company. . . .	Refer to Note 1
B.	Minutes of directors, executive committees, stockholders and other corporate meetings. . . .	Refer to Note 1
2.	Original certificate. . . .	Until cancellation
3.	Contracts and agreements:
(a)	Service contracts (management, accounting, financial or legal services) . . . .	Until expiration or termination plus three years
(b)	Contracts with employees and employee groups. . . .	Until termination plus one year
(c)	General contracts, leases and agreements. . . .	Until termination plus one year
4.	Capital stock records. . . .	Refer to Note 1
5.	Long-term debt records:
(a)	Bond indentures, underwritings, mortgages, and other long-term credit agreements. . . .	Until redemption plus three years
(b)	Registered bonds and debenture ledgers. . . .	Refer to Note 1
(c)	Stubs or similar records of bonds or other long-term debt issued. . . .	Refer to Note 1
6.	Ledgers:
(a)	General and subsidiary ledgers and indexes. . . .	Until discontinuance of use plus three years
(b)	Balance sheets and trial balance sheets of general and subsidiary ledgers . . .	Three years
7.	Journals:
(a)	General journals. . . .	Until discontinuance of use plus three years
(b)	Subsidiary journals and any supporting data necessary to explain journal entries . .	Three years
8.	Cash books:
(a)	General cash books. . . .	Until discontinuance of use plus three years
(b)	Subsidiary cash books . . . .	Three years

Note 1:

Records referring to this note should be maintained as determined by the designated company records supervisory official. In determining the length of time to retain these records, companies should consider the record retention requirements of the Internal Revenue Service, Securities and Exchange Commission, state and local jurisdictions, and other regulatory agencies.

(3) Customer service records. A company must maintain complete and accurate customer service records for all customers served.

(a) Customer service records must be kept on file in the general office of the company for at least three years.

(b) Customer service records must be kept in alphabetical, service address, or service route order.

(c) Customer service records must show at least the following information:

(i) The name and service address of the customer;

(ii) The billing address of the customer, if different than the service address;

(iii) Categories and quantity of service provided, including extra services as they are provided;

(iv) Information required to provide, on customer request, a detailed description of the amount billed the customer;

(v) Amounts billed;

(vi) Amounts collected; and

(vii) Balance due.

Wash. Admin. Code § 480-70-061

Statutory Authority: RCW 81.04.160, 81.77.030 and 80.01.040. 01-08-012 (Docket No. TG-990161, General Order No. R-479), § 480-70-061, filed 3/23/01, effective 4/23/01.