KEEPING IRP5'S

[StephanieB]

Good Afternoon

Thank you for taking time to read my question.

I would like to know how long is a company supposed to keep IRP's for?

Thanks

Stephanie Barnard

[Mike C]

Hi Stephanie - I think that they should be kept for a minimum of 5 years. However I always keep anything related to SARS for longer just to be on the safe side.

The recommended guidelines for keeping records are as follows:

1. Statutory information – indefinite
2. Annual Financial Statements – 15 years
3. Books of account and supporting schedules – 15 years
4. Asset registers - 15 years
5. Tax returns (after date of submission) – 5 years
6. Staff personnel records (after employment ceased) – 3 years
7. Salary and wage registers – 5 years
8. Paid cheques – 6 years
9. Invoices/bank statements/stock sheets/Vat records/vouchers and general correspondence – 5 years