OVERVIEW OF THE MOST RELEVANT RETENTION PERIODS 2024

Are you unsure how long your business documents need to be kept and don't know the differences between the retention periods for different documents?

The retention periods for documents in Belgium are regulated by law. This is why it is particularly important to carry out a precise check when scheduling the destruction of documents.

We at Dockx Rhenus Archisafe have created a general overview of the legal retention periods and provide you with a PDF file with the current retention periods for 2024!

The retention period for documents can vary depending on their purpose. The basic principle is therefore: documents and records must be kept for as long as is necessary for the respective purpose.

If you are unsure about the retention period of your documents, our contact persons in your region will be happy to help.

We will be happy to clarify the individual retention periods for your documents in a non-binding consultation.

Please note that, despite careful compilation, we cannot guarantee the accuracy of the information provided.

HOW LONG DO I GENERALLY HAVE TO KEEP BUSINESS DOCUMENTS?

- The retention period is normally 7 to 10 years. In exceptional cases, this period can even be 30 years or more. You should therefore find out about the periods that apply to you. 

- The retention period always begins after the end of the calendar year of the last entry in the document concerned.

HOW LONG DO YOU HAVE TO KEEP BUSINESS DOCUMENTS IN A COMPANY?

- If the document serves as a basis for accounting, it must be kept for ten years.

- A retention period of six years applies to all other business documents.

- If in doubt, documents should be kept for ten years or a tax consultant should be consulted.

WHICH DOCUMENTS MUST BE RETAINED AND MUST NOT BE DESTROYED IMMEDIATELY?

In general, all tax-relevant documents must be retained. They must be legible and available throughout the entire retention period.

- Annual financial statements (including opening balance sheets or interim financial statements) Whereby annual financial statements must be kept in paper form.

- Management reports

- Inventories

- Records/books (e.g. cash register, fixed assets)

- Accounting documents

- Invoices (including delivery notes if applicable)

- Bank statements

- logbooks

WHAT ARE THE CONSEQUENCES OF A BREACH OF THE STATUTORY RETENTION PERIODS?

- A breach of the retention obligation constitutes a breach of the accounting or retention obligation.

- An offence will be prosecuted under criminal law.

WHAT TO DO AFTER THE RETENTION PERIOD HAS EXPIRED?

- At the end of the retention period, your files can be destroyed. To ensure that you do not miss the end of your retention period and waste space and costs unnecessarily, we will inform you of the destruction date in good time. Then have your sensitive business documents professionally destroyed directly by Rhenus Office Systems in compliance with data protection regulations. Rely on the experts in document management.

COMPANY DOCUMENTS AND THEIR HISTORICAL SIGNIFICANCE

It is estimated that 5% of all company documents are of historical importance and should therefore be archived and stored securely on a permanent basis.

Our experts will be happy to support you in classifying these documents.

We are DIN ISO 11799 certified, a standard for information and documentation - requirements for the storage of archive and library materials, making us your competent partner for the archiving of historical documents.

OVERVIEW OF THE RELEVANT RETENTION PERIODS

- Please note that the retention periods may differ abroad.

- This overview only applies in Belgium.

- In other countries, country-specific retention periods apply.

- Retention periods may vary from sector to sector.

RETENTION PERIODS