Legal Periods

Legal periods represent periods stated in laws that may affect the retention of your records. Common legal periods include specific retention periods, statutes of limitation and limitations of assessment. Laws that require you to keep records but do not state a specific retention period can also be converted to a legal period.

The following abbreviations for legal periods are used in the Legal Research Index and in the Legal Group Index for the minimum and maximum legal requirements and legal considerations periods:

• ATX: ACT+TAX. The period of time after the matter is active and after the tax filing date. See also “TAX” below.
• AS: limitation of assessment. The period of time the tax agency can determine whether you have paid the correct amount of taxes. “LA” could also be used for “limitation of assessment” when “SL” is used for “statute of limitation.” See also “TAX” below.
• COMP: computer requirements. Law addresses requirements for computer records. This is ignored for records retention purposes.
• CY: current year. A period of time starting after the end of the current calendar year — December 31.
• D: days.
• LA: limitation of action. The period of time a legal action or lawsuit can be brought. This term is used by many states instead of “statute of limitations” and by other states for time periods for legal actions addressed in regulations.
• IND: indefinite. A long period of time that cannot be determined in advance. M: months.
• MAINT: maintain. A requirement to keep records that does not state a specific retention period. Many interpret this to mean a retention period of no longer than 3 years.
• MEDIA: media. Law addresses requirements for recordkeeping media. This is ignored for records retention purposes.
• MICRO: microfilm. Law addresses requirements for microfilm. This is ignored for records retention purposes.
• PROC: procedure. A procedural provision such as a requirement to keep records in the state, make records available for auditors and other legal provisions that do not affect the records retention conclusion.
• READ: read. Law addresses numerous recordkeeping requirements that should be read and analyzed. This is ignored for records retention purposes.
• SL: statute of limitations. Same as “limitation of actions.”
• TAX: tax filing date. A legal period starting from the date you filed a tax return or the tax return was due, whichever occurred later.
• Y = years. Legal periods will be in “years” unless otherwise specified. number. A specific period of time for retention specified by the law.
• +: plus. A time period consisting of two or more components.

Legal retention periods are expressed in years by default, unless months or days are specifically added as a suffix.

Please note that legal periods are used only in the Legal Research Index, not for inputting user retention periods in either Legal Groups or Retention Rules.