The taskThe IRS says retention depends on the action, expense or event a document records. A generic “three years” folder rule can miss longer periods, unfiled returns, property basis and non-tax obligations. This is a review inventory, not permission to destroy documents.

Start with the return and filing evidence

The IRS retention page generally ties income-tax support to the period of limitations. Unless otherwise stated, its years run after filing, and an early-filed return is treated as filed on its due date. Save copies of filed returns and their filing evidence so the anchor is known.

Its general three-year rule has exceptions. The page lists seven years for a worthless-security or bad-debt loss claim; six years for certain omitted income exceeding 25% of gross income; and indefinite retention if no return is filed or a fraudulent return is filed. These examples are not a full legal retention policy.

Route each document to the right family

  • Refund or credit claim: the IRS page describes three years from filing the original return or two years from payment, whichever is later, for the stated post-filing claim situation. Preserve both dates.
  • Employment tax records: keep at least four years after the tax becomes due or is paid, whichever is later. Record the period and payment evidence.
  • Property: generally retain records through the limitations period for the year of disposal, because acquisition and improvement records support basis and later gain/loss. An old purchase receipt can still matter.
  • Foreign-related-party books: the 5472 instructions require permanent books of account or records sufficient to establish the return and relevant treatment. Do not apply a casual three-year deletion rule to this file; have the reviewer address section 6038A record requirements.
  • Non-tax purposes: check insurer, creditor, contract, state-law and other requirements before discarding anything even if a federal-tax period appears over.

Add a hold before calculating any disposal date

Record unfiled or amended returns, open examinations, disputes, information requests and unresolved source-document gaps. An internal “hold” in this worksheet means do not delete while the issue is being reviewed; it does not claim to define a statutory hold rule.

Keep the basis for a conclusion, not just a future calendar date. If the filing date is missing, mark the anchor unknown and recover the evidence. If one document supports several years or assets, record each dependency.

Fictional review: an older asset receipt

Harbor Example LLC bought equipment in 2020 and still owns it in 2026. A cleanup rule selects everything older than three years. The acquisition receipt is excluded from deletion because it supports property basis; the disposal-year limitations analysis cannot be completed while the property is still held.

A second folder contains support for a return that the owner only remembers “preparing.” No filing evidence is available. That folder stays on hold while filing status is established. Prepared is not filed, and a guessed filing date does not start a reliable retention calculation.

Your private worksheet

Keep this record with your own source files. There is nothing to enter or upload here. Copy the headings, or open the plain-text sheet to save locally.

Open the text worksheet →

Document family
Return support, property/basis, payroll, related-party books, formation/account identity or other purpose.
Dependencies
Taxpayer, return/period, asset, related party, contract or proceeding using this record.
Anchor and proof
Filing/due/payment/disposal date relevant to the rule, with the source proving it; unknown if unsupported.
Exceptions and holds
Unfiled/amended return, dispute, missing evidence, longer tax rule and non-tax retention requirement.
Reviewed action
Keep/hold/review later; reviewer, source rule and rationale. No automatic deletion from this worksheet.

Two fictional files to compare

Invented examples with no real applicant, taxpayer number or live account.

Fictional file 1

Paid after the due date

Employment tax records show a due date earlier than actual payment.

Review result: Record both dates. The IRS minimum described above uses the later one, not the document creation date.

Fictional file 2

A source supports several years

One agreement supports related-party transactions in several periods.

Review result: Link all dependent periods and the related-party record requirement before any retention decision.

What completes this review?

A completed inventory names the rule, evidence for its anchor and all known dependencies. Keep it alongside the archive. The downloadable sheet deliberately has no “delete now” instruction.

Official sources

Checked November 4, 2026. A review date is not a form revision. Recheck current instructions and updates before acting; the worksheet is an organizational aid.