Identify record types and applicable retention requirements before setting a disposal date. Include a check for ongoing matters or holds so that staff do not delete documents solely because a folder is old.

Hands signing a document at an office desk
Illustrative photograph by Pavel Danilyuk.

Establish the record categories

List accounting and tax records, corporate registers, approvals, contracts and operational material separately. Ask the accountant and company secretary which rules apply to each category. IRAS requires companies to retain relevant records for at least five years from the relevant year of assessment, but other records and circumstances can require different treatment.

Record the basis for each retention period and the event from which it runs. A single deletion date for all company files can overlook those differences.

Include an approval and hold check

For example, a supplier dispute remains unresolved when a group of invoices reaches its planned review date. Refer the documents to the matter owner and adviser before disposal. Record the decision and any hold covering related correspondence and payment evidence.

Give one person responsibility for coordinating the review, with the relevant record owners approving their categories. Keep permissions for disposal separate from ordinary access to the folders.

Retain the disposal record

Document what was reviewed, the reason for disposal, approval, method and actual date. Include backup and third-party storage arrangements in the procedure so that the outcome is understood. Recheck the policy when the company's activities or legal obligations change. Seek advice where the applicable retention rule or a hold is uncertain.

Related practical guidance

For the surrounding records and responsibilities, see bookkeeping basics, company records to keep, bookkeeping and accounting.

Official guidance: the relevant official guidance.

Help with your company records

For corporate secretarial and company administration support, contact Raffles Corporate Services at [email protected] or WhatsApp +65 8501 7133. Tell us which records or process need attention so we can discuss the relevant next steps.