PRIA, Government Policy, Made Personal

Summary

Anyone who must file a report or confirm information under this law—or who would have to except for an exemption or simpler reporting rule—must keep a copy of the report and the records that support it. The records must show the basic facts and data needed to check, explain, or verify the report, and must include things like vouchers, worksheets, receipts, and any applicable resolutions, and also cover certain documents listed elsewhere (see 1021(k)(E)–(I)). Keep these records available for inspection for at least six years after the report’s filing date, or six years after it would have been filed if an exemption or simplified reporting rule applied (see 1024(a)(2)–(3)).

Title 29, §1027

Labor, Source: USLM XML via OLRC

Every person subject to a requirement to file any report (including the documents described in subparagraphs (E) through (I) of section 1021(k) of this title) or to certify any information therefor under this subchapter or who would be subject to such a requirement but for an exemption or simplified reporting requirement under section 1024(a)(2) or (3) of this title shall maintain a copy of such report and records on the matters of which disclosure is required which will provide in sufficient detail the necessary basic information and data from which the documents thus required may be verified, explained, or clarified, and checked for accuracy and completeness, and shall include vouchers, worksheets, receipts, and applicable resolutions, and shall keep such records available for examination for a period of not less than six years after the filing date of the documents based on the information which they contain, or six years after the date on which such documents would have been filed but for an exemption or simplified reporting requirement under section 1024(a)(2) or (3) of this title.

Notes & Related Subsidiaries

Editorial Notes

Amendments

2014—Pub. L. 113–235 inserted “(including the documents described in subparagraphs (E) through (I) of section 1021(k) of this title)” after “file any report” and “a copy of such report and” after “shall maintain”. 1997—Pub. L. 105–34 struck out “description or” after “requirement to file any”.

Statutory Notes and Related Subsidiaries

Effective Date

of 2014 AmendmentAmendment by Pub. L. 113–235 applicable with respect to plan years beginning after Dec. 31, 2014, see section 111(e) of Pub. L. 113–235, set out as a note under section 1021 of this title.

§1027 Retention of Records