Records retention

[dmwe]

Not from a regulatory perspective but from a practicle one, how long should record keeping reports, enrollment forms, distribution forms, etc. be kept in storage.

Since software changes every few years and there may not be a way to go back on the computer to pull up old information, we feel that we should probably keep the hard copies indefinitely.

Please weigh in.

[rcline46]

According to the IRS, the PLAN SPONSOR needs to keep the records indefinitely.

[dmwe]

We're the trustee, custodian, record keeper, tpa but we're generally the ones called on to produce the data from years prior. Thanks