RECORDS RETENTION SCHEDULE Revised

Transcription

1 RECORDS RETENTION SCHEDULE Revised The tables below list record types created and maintained by Smithfield Foods, Inc. constituting Company Records as defined in the Records Management Policy and the applicable mandatory retention periods. For each record type, a mandatory retention period has been defined below by government regulation, business need or both. This schedule serves as the only official authority for the retention and destruction of our Company Records: ACCOUNTING RECORDS RETENTION PERIOD AUTHORITY Accounts Payable 7 years Tax Consideration Accounts Receivable 7 years Tax Consideration Account Reconciliations 7 years Tax Consideration Audit Reports - External 10 years Tax/Audit Consideration Audit Reports - Internal 10 years Tax/Audit Consideration Chart of Accounts Permanent Active Records Standard Depreciation Schedules Permanent Active Records Standard Escheats - Supporting Documents 10 years Escheat Standard Expense Records 7 years Tax Consideration Financial Analysis: Reports, etc. 7 years Tax Consideration Financial Statements (Annual) Permanent Fixed Asset Purchases (Current) Permanent Active Record Standard Fixed Asset Purchases (Closed) 7 years Tax Consideration General Ledger 10 years IOC General Ledger 10 years Journal Entries 7 years Tax Consideration Loan Payment Schedules 7 years Tax Consideration Petty Cash Records 7 years Tax Consideration Petty Cash: tax return supporting informationgifts, entertainment 7 years Tax Consideration Profit and Loss Statements Permanent 1

2 Purchase Orders (1 copy) 7 years Tax Consideration Sales Records 7 years Tax Consideration SOX/Internal Controls 10 years Tax Returns - Federal Permanent Tax Consideration Tax Returns: State/Local 10 years Tax Consideration BANK RECORDS RETENTION PERIOD AUTHORITY Bank Reconciliations 7 years Tax Consideration Bank Statements 7 years Tax Consideration Cancelled Checks 7 years (Permanent for real estate purchases) Tax Consideration Deposit Records 7 years Tax Consideration Electronic Payment Records 7 years Tax Consideration BENEFIT PLANS RETENTION PERIOD AUTHORITY Benefits, Pension and Profit Sharing Plans Permanent Active Records Standard Benefit Plan Audits Completion + 6 years 29 U.S.C Benefit Plan: Internal Reports Current + 6 years 29 U.S.C Deferred Compensation Plans - Executives Permanent State Payroll Pension and Welfare Plans (Changes, Annual Report Notices, Beneficiary information) 6 years (from document's filing date) 29 U.S.C CORPORATE RECORDS RETENTION PERIOD AUTHORITY Board Minutes Permanent Bylaws Permanent Business Licenses Permanent Active Record Standard Confidentiality Agreements Contracts: all contracts (except those under $100,000.00, which will be retained for life plus 6 years) Upon dissolution of the agreement's term + 5 years. If archived in Vault system, call local IT department. Life + 20 years Legal Consideration Statute of Limitations Incorporation Records Permanent 2

3 Litigation Matters - Legal Department Life of litigation + 5 years Legal Consideration Mergers, Acq., Divestitures: Document Closing Binders Mergers, Acq., Divestitures: Due Diligence Permanent 7 years from Date of Transaction Permits to Conduct Business Permanent SEC Filings: Reports, Stock, etc. Permanent Shareholder Records Permanent Stock Registers Permanent Stock Transactions Permanent EMPLOYMENT RECORDS RETENTION PERIOD AUTHORITY Affirmative Action Arbitration Cases (including all levels of E.E.O.C. actions and employment cases ) Active plus 2 years Final Resolution + 5 years 29 C.F.R ; 41 C.F.R Legal Consideration Attendance Records - Hourly Staff 8 years State Payroll Copy of EEO-1 Report, Applications and Other Personnel Records 1 year (from taking the personnel action or filing the annual report) 29 C.F.R (Civil Rights Act of 1964, Title VII) Educational/Tuition Assistance: Supporting Documents of the Program Current + 3 years 29 C.F.R Eliminations - Reductions in Force 8 years State Payroll Employee Database: General Employee Data Superseded + 6 years Employee Ethics Guidebooks Superseded + 5 years Employee Files: Master Set Duration of Employment + 8 years State Payroll Employee Hotline Reports Current + 5 years Employee Manuals: Non-Union, Hourly Staff Superseded + 6 years Legal Consideration Employee Opinion Surveys Active + 2 years Employment Applications for Persons Not Hired (includes applications, resumes, applicant notes, job postings, and reports ) 1 year 29 C.F.R (b) Employment Contracts Life of the contract + 7 years 3

4 Employment Tax Records 4 years (from latter of date tax is due or paid or from date credit/refund claim is filed) 26 C.F.R through 26 C.F.R FLSA Position Descriptions/Classifications Superseded + 3 years 29 C.F.R ; 29 C.F.R General Employment Documents (including documents containing basic employee data, general personnel and employment records, and documents related to age, disability, race, or gender ) 3 years Various, including the Age Discrimination in Employment Act, Americans with Disabilities Act, Davis Bacon Act, Equal Pay Act, Title VII, Fair Labor Standards Act, Rehabilitation Act of 1973, and the Vietnam Era Veteran's Personnel/Employment Readjustment Assistance Act) Immigration Reform & Control Act (IRCA) Form I-9 3 years (after date of hire or one year after date of termination, whichever is later) 8 C.F.R. 274a.2; 8 U.S.C. 1324a Payroll Records - Routine Transactions 8 years State Payroll Polygraph Testing documents 3 years from date polygraph test is conducted or from date examination is 29 C.F.R requested, whichever is later. Records related to leave taken pursuant to the Family & Medical Leave Act Active + 3 years 29 C.F.R Records showing the impact of the selection process for each job, maintained by sex for each racial or ethnic group (Uniform Guidelines on Employee Selection Procedures) 2 years (after the adverse impact is eliminated) 29 C.F.R Request for a Reasonable Accommodation 2 years from the date the record is made or personnel action taken, whichever is later. 29 C.F.R ; 41 C.F.R & Termination Records 2 years from the date the record is made or personnel action taken, whichever is later. 29 C.F.R ; 29 C.F.R ; 41 C.F.R & W-4 Forms 4 years (after superseding form is submitted) 26 C.F.R ; 26 C.F.R

5 EMPLOYEE RECORDS-UNIONS RETENTION PERIOD AUTHORITY Collective Bargaining Agreements (including amendments ) Expiration + 3 years 20 C.F.R Performance Appraisal Administration: documents associated with union administration Duration of Employment + 3 years Union Contract Interpretations Active + 3 Years Union Grievances Final Resolution + 3 years Union- Recruitment Records Current + 3 years ENVIRONMENTAL RECORDS RETENTION PERIOD AUTHORITY Agency Correspondence (Specifically authorizing specific activities or related agency interpretations) Permanent Legal Consideration Applications for Permits Permanent Active Records Standard Consent Decrees (or other settlement agreement with any federal, state or local governmental agency) Permanent Legal Consideration Other Environmental Records 5 years (Unless specific regulatory requirements specify a shorter retention period see Environmental Records Retention Policy for more detail) Legal Consideration Permits (Including pre-construction & operating permits and plans & approvals) Permanent Active Records Standard Waste Disposal Records 30 years Legal Consideration HEALTH CARE & BENEFITS RETENTION PERIOD AUTHORITY Benefit Plan records for employees - records necessary to determine benefits due or that may be come due to each employee Indefinitely or as long as possibility exists that they are relevant to benefit determination for an employee 29 U.S.C COBRA Forms and Information: to include copies of employee notices; copies of election forms Current + 6 years 29 U.S.C

6 Health Care Program: Forms 5500 and supporting records/data including: original plan and amendments; expense records paid by plan; 6 years from Form 5500 fidelity bond of the plan; insurance contracts & filing date reports; benefit payment records; claims disputes records; and other supporting documents Health Insurance Claims: Including any related medical records Current + 6 years 29 U.S.C HIPAA Compliance Records Current + 6 years 45 C.F.R (j) INSURANCE RECORDS RETENTION PERIOD AUTHORITY Appraisals: PROPERTY Superseded + 7 years Current Accident Reports Permanent Active Records Standard Employee Medical Records Duration of Employment + 30 years 29 C.F.R Insurance Claims: Adjudication of Workers Compensation Claims Duration of Employment + 30 years State Workers' Compensation Laws Insurance Claims and Accidents: General 20 years Insurance Records: KEY EXECUTIVES Expiration of Coverage/Claim + 7 years Insurance Records: LIABILITY Permanent Insurance Records: NON-LIABILITY Policy Inactive Date + 7 years INTELLECTUAL PROPERTY RETENTION PERIOD AUTHORITY Copyright Registration Permanent IP Agreements - Active Permanent Active Records Standard IP Agreements - Expired 10 years IP Records Generally (documents relating to intellectual property, but not involving the actual intellectual property) 10 years Patents - Active Permanent Active Records Standard Patents - Expired 10 years Patent Prosecution Files 10 years Trademark Prosecution Files 10 years Trademark Registration - Active Permanent 6

7 Trademark Registration - Expired 10 years 7

8 INVENTORY RECORDS RETENTION PERIOD AUTHORITY Count Sheets Current Fiscal Year + 3 months FYE Detailed Adjustment Report 7 years FYE Detailed Inventory Report, including material drawings & blueprints 7 years (Permanent for LIFO system) FYE Detailed Inventory Report 7 years MARKETING & SALES RECORDS RETENTION PERIOD AUTHORITY Advertising Samples Permanent Consumer Trend Analysis/Market Research 5 years Contracts/Rebate Agreements Life of the contract + 7 years Customer Complaints 5 years Customer Invoices 7 years Filled Orders 8 years Mailing and Prospect Lists 2 years Market Surveys 5 years Order Acknowledgements 4 years Price Lists Price Superseded + 5 years Sales Records 7 years Shipping Notice & Reports 5 years 19 C.F.R OPERATIONAL/MANUFACTURING RECORDS RETENTION PERIOD AUTHORITY Animal Drug/Medication Information- feed delivery tickets, etc. 1 year 21 C.F.R Chemical Analysis for USDA Compliance: records that support the validity of nutrient declarations contained on product labels. 3 years or as long as pertinent to a current product 9 C.F.R Consumer Affairs: consumer correspondence and consumer complaint letters 1 year Consumer Affairs: electronic consumer complaint database 4 years 8

9 Country of Origin Records: (1) Records to establish and identify the immediate previous 1 year from the date of the source (if applicable); or (2) Records to identify transaction the immediate subsequent recipient of a covered commodity. 7 C.F.R For pet food manufactured for export and that use amino acids as food additives, all (1) records of required tests for amino acids; and (2) records required to assure effectiveness and compliance with regulations. Throughout the period of use + 3 years thereafter 21 C.F.R For pet food manufactured for export, all records demonstrating that the product (1) meets foreign purchaser s specifications; (2) does not conflict with the laws of the importing country; (3) is labeled on the outside of the shipping package that it is intended for export; and (4) is not sold or offered for sale in the United States. 3 years 21 C.F.R For pet food manufactured for export and that is irradiated, all records on food treated, lot identification, scheduled process, evidence of compliance with the scheduled process, ionizing energy source, source calibration, dosimetry, dose distribution in the product, and the date of irradiation. A time period that exceeds the shelf life of the irradiated food product by one year (up to a maximum of three years, whichever period is shorter) 21 C.F.R For all pet food products, FDA Bioterrorism Act records (applies to transporters who manufacture, process, pack, transport, distribute, receive, hold, or import pet food): -The name of the firm, address, number, and if available fax number and of: the nontransporter who was the immediate previous source of food; the transporter who transported the food to you; the non-transporter who was the immediate recipient of the food from you; the transporter who transported the food from you -An adequate description of the type of food received and an adequate description of the type 1 year 21 C.F.R of food released, which includes brand name and specific variety. -Date you received the food and date you released the food -The lot or code number or other identifier of food (for persons who manufacture, process, or pack food) -The quantity of food packaged and description of how the food is packaged. -Information reasonably available to you to identify the specific source of each ingredient used to make every lot of finished product. 9

10 HACCP Plans and Documentation re: Frozen, preserved or shelf-stable products HACCP Plans and Documentation re: Slaughter activities or refrigerated product Internal and Third-Party Audits privileged and confidential 2 years (may store off site after 6 months) 1 year (may store off site after 6 months) 1 year (or when replaced by a subsequent audit) 9 C.F.R C.F.R Natural Sausage Casings: records which document meat or poultry source of the natural casing Current year + 2 years 9 C.F.R OSHA 300 Logs 5 years following end of year to which the report relates 29 C.F.R OSHA Inspection or Citation Records 3 years following the inspection or abatement date, whichever is later Other Quality Assurance Records Current year + 2 years Product Development Records (with no food safety component) i.e. sensory records, process improvement, cooking procedures, etc. Shelf life of product- no mandatory retention requirement Quality Assurance & Laboratory Worksheets 6 months SSOP Plans and Documentation Current month + 6 months 9 C.F.R. 416 Such product distribution records as are necessary to facilitate location of products that are being recalled (for FDA-regulated products) A period of time that exceeds the shelf life and expected use of the product and is at least the 21 C.F.R length of time specified in other applicable regulations concerning record retention USDA Copies of all labeling used, product formulations, and processing procedures 2 years following the end of the year in which transaction occurred 9 C.F.R USDA Non-Compliance Reports, Responses & Appeals USDA Records of canning, irradiation and labeling Current year + 2 years 2 years following end of year in which transaction occurred 9 C.F.R USDA Records related to manufacture of canned meat products USDA Slaughter Facilities: test results in process control chart format 3 years 9 C.F.R year 9 C.F.R

11 USDA Supplier Guarantees of Packaging Materials USDA Transaction Records re: records relating to purchase or sale of live animals or prepared product to include: invoices, bills of lading, receiving/shipping papers, swine movement tickets, lot close outs & other supporting documents 2 years following end of year in which transaction occurred 2 years following end of year in which transaction occurred 9 C.F.R C.F.R REAL PROPERTY RECORDS RETENTION PERIOD AUTHORITY Blueprints and Plans Permanent Building Permits 20 years after expiration Statute of Limitations Construction Records Life of Facility plus 10 years Deeds, Mortgages, Bills of Sale Permanent Leases/Mortgages Life of Lease/Mortgage + 7 years Legal Consideration Lease Payment Records Life + 4 years Leasehold Improvements 3 years from date of expiration of lease Property Records Permanent Real Estate Purchases Permanent TRANSITORY RECORDS RETENTION PERIOD AUTHORITY Transitory Company Records which fall outside of any stated retention period Up to 2 years TRANSPORTATION RECORDS RETENTION PERIOD AUTHORITY Bills of lading and freight records 1 year after disposition 49 C.F.R. Pt. 379, App. A, I Dispatchers' sheets, registers, and other records pertaining to movement of transportation equipment 3 years 49 C.F.R. Pt. 379, App. A, J Import and export records including bonded freight and steamship engagements 2 years 49 C.F.R. Pt. 379, App. A, J Records and reports pertaining to operation of marine and floating equipment 3 years 49 C.F.R. Pt. 379, App. A, J Records of loading and unloading of transportation equipment 2 years 49 C.F.R. Pt. 379, App. A, J 11

12 Records pertaining to the diversion or reconsignment of freight, including requests, tracers, and correspondence 2 years 49 C.F.R. Pt. 379, App. A, J Records pertaining to transportation of household goods 1 year 49 C.F.R. Pt. 379, App. A, J Records related to property transported 3 years after disposition of property 49 C.F.R. Pt. 379, App. A, D Records, reports, orders and tickets pertaining to weighting of freight 3 years 49 C.F.R. Pt. 379, App. A, J Shipping contracts for transportation or caretakers of freight Until expiration 49 C.F.R. Pt. 379, App. A, A5 Supporting data for reports filed with the Federal Motor Carrier Safety Administration, the Surface Transportation Board, the Department of Transportation's Bureau of Transportation Statistics and regulatory bodies 3 years after disposition 49 C.F.R. Pt. 379, App. A, K For additional Transportation Subsidiary Records not included in this schedule, refer to the retention periods provided in the Appendix and shared with the transportation units of the company. Where such minimum requirements are longer than other periods in this schedule, the Fed. Motor Carrier Safety Admin. requirements take precedence. Minimum retention requirements mandated by 49 C.F.R. pt. 379, 49 C.F.R. Pt. 379, App. A contained in separate Appendix provided to transportation units. Transportation Managers may contact Legal Department for more specific retention requirements if needed. 12