How Long Should Business Records Be Kept?

Short answer

There is no single retention period for every business record. The IRS says retention depends on the type of record and the relevant limitation period; employment-tax records generally should be kept for at least four years.

Who should pay attention?

• Building a tax-return and supporting-document archive
• Retaining payroll records
• Cleaning up records after closing a business

What triggers a review?

Revisit this topic when one of the situations above occurs or your company profile changes.

Step-by-step checklist

1. Organize records by category and period.
2. Check IRS retention guidance for tax-return support and property records.
3. Account for the general four-year retention rule for employment-tax records.
4. Check state, local and industry-specific retention rules separately.

Where does this live in StatePilot?

Official sources

• IRS — Closing a business / Keep your records ↗

Last reviewed

Aug 22, 2026