[Code of Federal Regulations]
[Title 49, Volume 8]
[Revised as of October 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 49CFR1220.6]

[Page 165-169]
 
                        TITLE 49--TRANSPORTATION
 
 CHAPTER X--SURFACE TRANSPORTATION BOARD, DEPARTMENT OF TRANSPORTATION 
                               (Continued)
 
PART 1220_PRESERVATION OF RECORDS--Table of Contents
 
Sec. 1220.6  Schedule of records and periods of retention.

    The following schedule shows periods that designated records shall 
be preserved. The descriptions specified under the various general 
headings are for convenient reference and identification, and are 
intended to apply to the items named regardless of what the records are 
called in individual companies and regardless of the record media. The 
retention periods represent the prescribed number of years from the date 
of the document and not calendar years. Records not listed below shall 
be retained as determined by the management of each company.

[[Page 166]]



              Schedule of Records and Periods of Retention
------------------------------------------------------------------------
          Item and category of records               Retention period
------------------------------------------------------------------------
                        A. Corporate and General
1. Incorporation and reorganization:
    (a) Charter or certificate of incorporation   Note A.
     and amendments.
    (b) Legal documents related to mergers,        Do.
     consolidations, reorganization,
     receiverships and similar actions which
     affect the identity or organization of the
     company.
2. Minutes of Directors, Executive Committees,     Do.
 Stockholders and other corporate meetings.
3. Titles, franchises and authorities:
    (a) Certificates of public convenience and    Until expiration or
     necessity issued by regulating bodies.        cancellation.
    (b) Operating authorizations and exemptions    Do.
     to operate.
    (c) Copies of formal orders of regulatory     Note A.
     bodies served upon the company.
    (d) Deeds, charters, and other title papers.  Until disposition of
                                                   property.
    (e) Patents and patent records..............  Note A.
4. Annual reports or statements to stockholders.  3 years.
5. Contracts and agreements:
    (a) Service contracts, such as for            Until expiration or
     operational management, accounting,           termination plus 3
     financial or legal services, and agreements   years.
     with agents.
    (b) Contracts and other agreements relating    Do.
     to the construction, acquisition or sale of
     real property and equipment except as
     otherwise provided in (a) above.
    (c) Contracts for the purchase or sale of     Until expiration.
     material and supplies except as provided in
     (a) above.
    (d) Shipping contracts for transportation or   Do.
     caretakers of freight.
    (e) Contracts with employees and employee     Until expiration.
     bargaining groups.
    (f) Contracts, leases and agreements, not     Until expiration or
     specifically provided for in this section.    termination plus 1
                                                   year.
6. Accountant's auditor's, and inspector's
 reports:
    (a) Certifications and reports of             3 years
     examinations and audits conducted by public
     accountants.
    (b) Reports of examinations and audits         Do.
     conducted by internal auditors, time
     inspectors, and others.
7. Other: (See Note A)
                               B. Treasury
1. Capital stock records:
    (a) Capital stock ledger....................  Note A.
    (b) Capital stock certificates, records of     Do.
     or stubs of.
    (c) Stock transfer register.................   Do.
2. Long-term debt records:
    (a) Bond indentures, underwritings,           Until redemption plus
     mortgages, and other long-term credit         3 years.
     agreements.
    (b) Registered bonds and debenture ledgers..   Do.
    (c) Stubs or similar records of bonds or      Note A.
     other long-term debt issued.
3. Authorizations from regulatory bodies for       Do.
 issuance of securities including applications,
 reports, and supporting papers.
4. Records of securities owned, in treasury, or   Until the securities
 held by custodians, detailed ledgers and          are sold, redeemed or
 journals, or their equivalent.                    otherwise disposed
                                                   of.
5. Other: (See Note A)
                       C. Financial and Accounting
1. Ledgers:
    (a) General and subsidiary ledgers with       Until discontinuance
     indexes.                                      of use plus 3 years.
    (b) Balance sheets and trial balance sheets   3 years.
     of general and subsidiary ledgers.
2. Journals:
    (a) General journals........................  Until discontinuance
                                                   of use plus 3 years.
    (b) Subsidiary journals and any supporting    3 years.
     data, except as otherwise provided for,
     necessary to explain journal entries.
3. Cash books:
    (a) General cash books......................  Until discontinuance
                                                   of use plus 3 years.
    (b) Subsidiary cash books...................  3 years.
4. Vouchers:
    (a) Voucher registers, indexes, or             Do.
     equivalent.
    (b) Paid and canceled vouchers, expenditure    Do.
     authorizations, detailed distribution
     sheets and other supporting data including
     original bills and invoices, if not
     provided for elsewhere.
    (c) Paid drafts, paid checks, and receipts    3 years.
     for cash paid out.
5. Accounts receivable:
    (a) Record or register of accounts            3 years after
     receivable, indexes thereto, and summaries    settlement.
     of distribution.
    (b) Bills issued for collection and            Do.
     supporting data.
    (c) Authorization for writing off             1 year.
     receivables.
    (d) Reports and statements showing age and     Do.
     status of receivables.

[[Page 167]]


6. Records of accounting codes and instructions.  3 years after
                                                   discontinuance.
7. Other: (Note A)
                        D. Property and Equipment
Note.-- All accounts, records, and memoranda necessary for making a
 complete analysis of the cost or value of property shall be retained
 for the periods shown. If any of the records elsewhere provided for in
 this schedule are of this character, they shall be retained for the
 periods shown below, regardless of any lesser retention period assigned
1. Property records:
    (a) Records which maintain complete           3 years after
     information on cost or other value of all     disposition of
     real and personal property or equipment.      property.
    (b) Records of additions and betterments       Do.
     made to property and equipment.
    (c) Records pertaining to retirements and      Do.
     replacements of property and equipment.
    (d) Records pertaining to depreciation......   Do.
    (e) Records of equipment number changes.....   Do.
    (f) Records of motor and engine changes.....   Do.
    (g) Records of equipment lightweighed and     Only current or latest
     stenciled.                                    records.
2. Engineering records of property changes        3 years after
 actually made.                                    disposition of
                                                   property.
3. Other: (Note A)
                        E. Personnel and Payroll
1. Personnel and payroll records................  1 year (Note A).
                         F. Insurance and Claims
1. Insurance records:
    (a) Schedules of insurance against fire,      Until expiration plus
     storms, and other hazards and records of      1 year.
     premium payments.
    (b) Records of losses and recoveries from     1 year after
     insurance companies and supporting papers.    settlement.
    (c) Insurance policies......................  Until expiration of
                                                   coverage plus 1 year.
2. Claims records:
    (a) Claim registers, card or book indexes,    1 year after
     and other records which record personal       settlement.
     injury, fire and other claims against the
     company, together with all supporting data.
    (b) Claims registers, card or book indexes,    Do.
     and other records which record overcharges,
     damages, and other claims filed by the
     company against others, together with all
     supporting data.
    (c) Records giving the details of             3 years.
     authorities issued to agents, carriers, and
     others for participation in freight claims.
    (d) Reports, statements and other data         Do.
     pertaining to personal injuries or damage
     to property when not necessary to support
     claims or vouchers.
    (e) Reports, statements, tracers, and other   1 year.
     data pertaining to unclaimed, over, short,
     damaged, and refused freight, when not
     necessary to support claims or vouchers.
    (f) Authorities for disposal of unclaimed,    3 years.
     damaged, and refused freight.
3. Other: (See Note A)
                                G. Taxes
1. Taxes. (Note A)
                         H. Purchases and Stores
1. Purchases and stores. (Note A)
                    I. Shipping and Agency Documents
1. Bills of lading and releases:
    (a) Consignors' shipping orders, consignors'  1 year.
     shipping tickets, and copies of bills of
     lading freight bills from other carriers
     and other similar documents furnished the
     carrier for movement of freight.
    (b) Shippers' order-to-notify bills of         Do.
     lading taken up and cancelled.
2. Freight waybills:
    (a) Local waybills..........................   Do.
    (b) Interline waybills recieved from and       Do.
     made to other carriers.
    (c) Company freight waybills................   Do.
    (d) Express waybills........................   Do.
3. Freight bills and settlements:
  (a) Paid copy of freight bill retained to
   support receipt of freight charges:
    (1) Bus express freight bills provided no      Do.
     claim has been filed.
    (2) All other freight bills.................   Do.
  (b) Paid copy of freight bill retained to
   support payment of freight charges to other
   carriers:
    (1) Bus express freight bills provided no      Do.
     claim has been filed.
    (2) All other freight bills.................   Do.
  (c) Records of unsettled freight bills and      1 year after
   supporting papers.                              disposition.
  (d) Records and reports of correction notices.  1 year.
4. Other freight records:
    (a) Records of freight received, forwarded,    Do.
     and delivered.
    (b) Notice to consignees of arrival of         Do.
     freight; tender of delivery.

[[Page 168]]


5. Agency records (to include conductors,
 pursers, stewards, and others):
    (a) Cash books..............................   Do.
    (b) Remittance records, bank deposit slips     Do.
     and supporting papers.
    (c) Balance sheets and supporting papers....   Do.
    (d) Statements of corrections in agents'       Do.
     accounts.
    (e) Other records and reports pertaining to    Do.
     ticket sales, baggage handled,
     miscellaneous collections, refunds,
     adjustments, etc.
                            J. Transportation
1. Records pertaining to transportation of
 household goods:
    (a) Estimate of charges.....................  1 year.
    (b) Order for service.......................   Do.
    (c) Vehicle-load manifest...................   Do.
    (d) Descriptive inventory...................   Do.
2. Records and reports pertaining to operation
 of marine and floating equipment:
    (a) Ship log................................  3 years.
    (b) Ship articles...........................   Do.
    (c) Passenger and room list.................   Do.
    (d) Floatmen's barge, lighter, and escrow     2 years.
     captain's reports, demurrage records,
     towing reports and checks sheets.
3. Car distribution and movement-railroads only:
    (a) Records of car allotment and               Do.
     distribution.
    (b) Records of cars ordered, furnished and     Do.
     loaded.
    (c) Records showing dates and numbers of       Do.
     trains, initials and number of cars,
     movement of cars, and mileage of cars and
     trains.
    (d) Report of cars interchanged with           Do.
     connecting lines.
    (e) Reports of unfilled car orders..........  1 year.
    (f) Per diem and mileage reports made and     2 years.
     received, including reclaims and
     discrepancy and adjustment reports.
    (g) Demurrage and storage records...........   Do.
4. Dispatchers' sheets, registers, and other      3 years
 records pertaining to movement of
 transportation equipment.
5. Import and export records including bonded     2 years.
 freight and steamship engagements.
6. Records, reports, orders and tickets           3 years.
 pertaining to weighting of freight.
7. Records of loading and unloading of            2 years.
 transportation equipment.
8. Records pertaining to the diversion or          Do.
 reconsignment of freight, including requests,
 tracers, and correspondence.
9. Other: (See Note A)
                          K. Tariffs and Rates
1. Official file copies of tariffs,               3 years after
 classifications, division sheets, and circulars   expiration or
 relative to the transportation of persons or      cancellation.
 property.
2. Authorities and supporting papers for          3 years.
 transportation of property or passengers free
 or at reduced rates.
3. Records and documents required by provisions   2 years.
 of Sec. 1253.20 to be maintained.
              L. Supporting Data for Reports and Statistics
1. Supporting data for reports filed with the
 Surface Transportation Board and regulatory
 bodies:
    (a) Supporting data for annual financial,     3 years.
     operating and statistical reports.
    (b) Supporting data for periodical reports     Do.
     of operating revenues, expenses, and income.
    (c) Supporting data for reports detailing      Do.
     use of proceeds from issuance or sale of
     company securities.
    (d) Supporting data for valuation inventory   3 years after
     reports and records. This includes related    disposition of the
     notes, maps and sketches, underlying          property.
     engineering, land, and accounting reports,
     pricing schedules, summary or collection
     sheets, yearly reports of changes and other
     miscellaneous data, all relating to the
     valuation of the company's property by the
     Surface Transportation Board or other
     regulatory body.
2. Supporting data for periodical reports of      3 years.
 accidents, inspections, tests, hours of
 service, repairs, freight car locations, etc.
3. Supporting data for periodical statistical of   Do.
 operating results or performance by tonnage,
 mileage, passengers carried, piggyback traffic,
 commodities, costs, analyses of increases and
 decreases, or otherwise.
                            M. Miscellaneous
1. Index of records.............................  Until revised as
                                                   record structure
                                                   changes.
2. Statement listing records prematurely          For the remainder of
 destroyed or lost.                                the period as
                                                   prescribed for
                                                   records destroyed.
------------------------------------------------------------------------
Note A: Records referenced to this note shall be maintained as
  determined by the designated records supervisory official. Companies
  should be mindful of the record retention requirements of the Internal
  Revenue Service, Securities and Exchange Commission, state and local
  jurisdictions and other regulatory agencies. Companies shall exercise
  reasonable care in choosing retention periods, and the choice of
  retention periods shall reflect past experiences, company needs,
  pending litigation, and regulatory requirements.


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[50 FR 10775, Mar. 18, 1985, as amended at 51 FR 22083, June 18, 1986]