A retention period (associated with a retention schedule or retention program) is an aspect of
records and information management (RIM) and the
records life cycle that identifies the duration of time for which the information should be maintained or "retained," irrespective of format (paper, electronic, or other). Retention periods vary with different types of information, based on content and a variety of other factors, including internal organizational need, regulatory requirements for inspection or audit, legal statutes of limitation, involvement in litigation, and taxation and financial reporting needs, as well as other factors as defined by local, regional, state, national, and/or international governing entities.
Once an applicable retention period has elapsed for a given type or series of information, and all holds/moratoriums have been released, the information is typically destroyed using an approved and effective destruction method, which renders the information completely and irreversibly unusable via any means. Alternatively, it may be converted from one form to another (e.g. from paper to electronic), depending on the defined retention period per format. Information with historical value beyond its "usable value" may be accessioned to the custody of an archive organization for permanent or extended long-term preservation.
Defensible disposition
Defensible disposition refers to the ability of an identified and applied retention period to effectively provide for the defense of the record, and its eventual destruction or accessioning when scrutinized within a court of law or by other review.
It is commonly advised by
records and information management (RIM) professionals that any and all retention periods applied to organizational information should be reviewed and approved for use by competent legal counsel, which represents the organization, and is familiar with the specific business needs and legal and regulatory requirements of the organization. Additionally, a practical approach to information assessment/classification, proper documentation of the disposition program, strategic review of disposition policy over time for efficacy are required for proper defensible disposition.
Guidance and education organizations
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ARMA International
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Information and Records Management Society
The IRMS (Information and Records Management Society) (formerly known as the Records Management Society) was founded in 1983 as the main professional body for records managers in Great Britain and Ireland. Its objectives are to strive to further k ...
filerskeepers records retention FAQ
See also
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Retention schedule A retention schedule is a listing of organizational information types, or series of information in a manner which facilitates the understanding and application of the identified and approved retention period, and other information retention aspects ...
References
{{Authority control
Legal documents
Data management
Public records
Records management