49 CFR 379, Preservation of Records

Code of Federal Regulations
  Title 49 Transportation

PART 379—PRESERVATION OF RECORDS

Sec.
379.1	Applicability.
379.3	Records required to be retained.
379.5	Protection and storage of records.
379.7	Preservation of records.
379.9	Companies going out of business.
379.11	Waiver of requirements of the regulations in this part.
379.13	Disposition and retention of records.
Appendix A to Part 379—Schedule of Records and Periods of Retention

Authority:

49 U.S.C. 13301, 14122 and 14123; and 49 CFR 1.73.

Source:

62 FR 32044, June 12, 1997, unless otherwise noted.

Editorial Note:

Nomenclature changes to part 379 appear at 66 FR 49871, Oct. 1, 2001.

§379.1 Applicability.

(a) The preservation of record rules contained in this part shall apply to the following:

(1) Motor carriers and brokers;

(2) Water carriers; and

(3) Household goods freight forwarders.

(b) This part applies also to the preservation of accounts, records and memoranda of traffic associations, weighing and inspection bureaus, and other joint activities maintained by or on behalf of companies listed in paragraph (a) of this section.

§379.3 Records required to be retained.

Companies subject to this part shall retain records for the minimum retention periods provided in appendix A to this part. After the required retention periods, the records may be destroyed at the discretion of each company's management. It shall be the obligation of the subject company to maintain records that adequately support financial and operational data required by the Secretary. The company may request a ruling from the Secretary on the retention of any record. The provisions of this part shall not be construed as excusing compliance with the lawful requirements of any other governmental body prescribing longer retention periods for any category of records.

§379.5 Protection and storage of records.

(a) The company shall protect records subject to this part from fires, floods, and other hazards, and safeguard the records from unnecessary exposure to deterioration from excessive humidity, dryness, or lack of ventilation.

(b) The company shall notify the Secretary if prescribed records are substantially destroyed or damaged before the term of the prescribed retention periods.

§379.7 Preservation of records.

(a) All records may be preserved by any technology that is immune to alteration, modification, or erasure of the underlying data and will enable production of an accurate and unaltered paper copy.

(b) Records not originally preserved on hard copy shall be accompanied by a statement executed by a person having personal knowledge of the facts indicating the type of data included within the records. One comprehensive statement may be executed in lieu of individual statements for multiple records if the type of data included in the multiple records is common to all such records. The records shall be indexed and retained in such a manner as will render them readily accessible. The company shall have facilities available to locate, identify and produce legible paper copies of the records.

(c) Any significant characteristic, feature or other attribute that a particular medium will not preserve shall be clearly indicated at the beginning of the applicable records as appropriate.

(d) The printed side of forms, such as instructions, need not be preserved for each record as long as the printed matter is common to all such forms and an identified specimen of the form is maintained on the medium for reference.

§379.9 Companies going out of business.

The records referred to in the regulations in this part may be destroyed after business is discontinued and the company is completely liquidated. The records may not be destroyed until dissolution is final and all pending transactions and claims are completed. When a company is merged with another company under jurisdiction of the Secretary, the successor company shall preserve records of the merged company in accordance with the regulations in this part.

§379.11 Waiver of requirements of the regulations in this part.

A waiver from any provision of the regulations in this part may be made by the Secretary upon his/her own initiative or upon submission of a written request by the company. Each request for waiver shall demonstrate that unusual circumstances warrant a departure from prescribed retention periods, procedures, or techniques, or that compliance with such prescribed requirements would impose an unreasonable burden on the company.

§379.13 Disposition and retention of records.

The schedule in appendix A to this part shows periods that designated records shall be preserved. The descriptions specified under the various general headings are for convenient reference and identification, and are intended to apply to the items named regardless of what the records are called in individual companies and regardless of the record media. The retention periods represent the prescribed number of years from the date of the document and not calendar years. Records not listed in appendix A to this part shall be retained as determined by the management of each company.

Appendix A to Part 379—Schedule of Records and Periods of Retention

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Item and category of records Retention period

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A. Corporate and General

1 1 1. Incorporation and

reorganization:

(a) Charter or Note A.

certificate of

incorporation and

amendments.

(b) Legal documents Note A.

related to mergers,

consolidations,

reorganization,

receiverships and

similar actions which

affect the identity or

organization of the

company.

2. Minutes of Directors, Note A.

Executive Committees,

Stockholders and other

corporate meetings.

3. Titles, franchises and

authorities:

(a) Certificates of Until expiration or cancellation.

public convenience and

necessity issued by

regulating bodies.

(b) Operating Until expiration or cancellation.

authorizations and

exemptions to operate.

(c) Copies of formal Note A.

orders of regulatory

bodies served upon the

company.

(d) Deeds, charters, and Until disposition of property.

other title papers.

(e) Patents and patent Note A.

records.

4. Annual reports or 3 years.

statements to stockholders.

5. Contracts and agreements:

(a) Service contracts, Until expiration or termination plus 3

such as for operational years.

management, accounting,

financial or legal

services, and agreements

with agents.

(b) Contracts and other Until expiration or termination plus 3

agreements relating to years.

the construction,

acquisition or sale of

real property and

equipment except as

otherwise provided in

(a) above.

(c) Contracts for the Until expiration.

purchase or sale of

material and supplies

except as provided in

(a) above.

(d) Shipping contracts Until expiration.

for transportation or

caretakers of freight.

(e) Contracts with Until expiration.

employees and employee

bargaining groups.

(f) Contracts, leases and Until expiration or termination plus 1

agreements, not year.

specifically provided

for in this section.

6. Accountant's auditor's,

and inspector's reports:

(a) Certifications and 3 years.

reports of examinations

and audits conducted by

public accountants.

(b) Reports of 3 years.

examinations and audits

conducted by internal

auditors, time

inspectors, and others.

7. Other..................... Note A.

B. Treasury

1. Capital stock records:

(a) Capital stock ledger. Note A.

(b) Capital stock Note A.

certificates, records of

or stubs of.

(c) Stock transfer Note A.

register.

2. Long-term debt records:

(a) Bond indentures, Until redemption plus 3 years.

underwritings,

mortgages, and other

long-term credit

agreements.

(b) Registered bonds and Until redemption plus 3 years.

debenture ledgers.

(c) Stubs or similar Note A.

records of bonds or

other long-term debt

issued.

3. Authorizations from Note A.

regulatory bodies for

issuance of securities

including applications,

reports, and supporting

papers.

4. Records of securities Until the securities are sold, redeemed

owned, in treasury, or held or otherwise disposed of.

by custodians, detailed

ledgers and journals, or

their equivalent.

5. Other..................... Note A.

C. Financial and Accounting

1. Ledgers:

(a) General and Until discontinuance of use plus 3 years.

subsidiary ledgers with

indexes.

(b) Balance sheets and 3 years.

trial balance sheets of

general and subsidiary

ledgers.

2. Journals:

(a) General journals..... Until discontinuance of use plus 3 years.

(b) Subsidiary journals 3 years.

and any supporting data,

except as otherwise

provided for, necessary

to explain journal

entries.

3. Cash books:

(a) General cash books... Until discontinuance of use plus 3 years.

(b) Subsidiary cash books 3 years.

4. Vouchers:

(a) Voucher registers, 3 years.

indexes, or equivalent.

(b) Paid and canceled 3 years.

vouchers, expenditure

authorizations, detailed

distribution sheets and

other supporting data

including original bills

and invoices, if not

provided for elsewhere.

(c) Paid drafts, paid 3 years.

checks, and receipts for

cash paid out.

5. Accounts receivable:

(a) Record or register of 3 years after settlement.

accounts receivable,

indexes thereto, and

summaries of

distribution.

(b) Bills issued for 3 years after settlement.

collection and

supporting data.

(c) Authorization for 1 year.

writing off receivables.

(d) Reports and 1 year.

statements showing age

and status of

receivables.

6. Records of accounting 3 years after discontinuance.

codes and instructions.

7. Other..................... Note A.

D. Property and Equipment

Note._All accounts, records, and memoranda necessary for making a

complete analysis of the cost or value of property shall be retained for

the periods shown. If any of the records elsewhere provided for in this

schedule are of this character, they shall be retained for the periods

shown below, regardless of any lesser retention period assigned.

1. Property records:

(a) Records which 3 years after disposition of property.

maintain complete

information on cost or

other value of all real

and personal property or

equipment.

(b) Records of additions 3 years after disposition of property.

and betterments made to

property and equipment.

(c) Records pertaining to 3 years after disposition of property.

retirements and

replacements of property

and equipment.

(d) Records pertaining to 3 years after disposition of property.

depreciation.

(e) Records of equipment 3 years after disposition of property.

number changes.

(f) Records of motor and 3 years after disposition of property.

engine changes.

(g) Records of equipment Only current or latest records.

lightweighed and

stenciled.

2. Engineering records of 3 years after disposition of property.

property changes actually

made.

3. Other..................... Note A.

E. Personnel and Payroll

1. Personnel and payroll 1 year.

records.

F. Insurance and Claims

1. Insurance records:

(a) Schedules of Until expiration plus 1 year.

insurance against fire,

storms, and other

hazards and records of

premium payments.

(b) Records of losses and 1 year after settlement.

recoveries from

insurance companies and

supporting papers.

(c) Insurance policies... Until expiration of coverage plus 1 year.

2. Claims records:

(a) Claim registers, card 1 year after settlement.

or book indexes, and

other records which

record personal injury,

fire and other claims

against the company,

together with all

supporting data.

(b) Claims registers, 1 year after settlement.

card or book indexes,

and other records which

record overcharges,

damages, and other

claims filed by the

company against others,

together with all

supporting data.

(c) Records giving the 3 years.

details of authorities

issued to agents,

carriers, and others for

participation in freight

claims.

(d) Reports, statements 3 years.

and other data

pertaining to personal

injuries or damage to

property when not

necessary to support

claims or vouchers.

(e) Reports, statements, 1 year.

tracers, and other data

pertaining to unclaimed,

over, short, damaged,

and refused freight,

when not necessary to

support claims or

vouchers.

(f) Authorities for 3 years.

disposal of unclaimed,

damaged, and refused

freight.

3. Other..................... Note A.

G. Taxes

1. Taxes..................... Note A.

H. Purchases and Stores

1. Purchases and stores...... Note A.

I. Shipping and Agency

Documents

1. Bills of lading and

releases:

(a) Consignors' shipping 1 year.

orders, consignors'

shipping tickets, and

copies of bills of

lading, freight bills

from other carriers and

other similar documents

furnished the carrier

for movement of freight.

(b) Shippers' order-to- 1 year.

notify bills of lading

taken up and canceled.

2. Freight waybills:

(a) Local waybills....... 1 year.

(b) Interline waybills 1 year.

received from and made

to other carriers.

(c) Company freight 1 year.

waybills.

(d) Express waybills..... 1 year.

3. Freight bills and

settlements:

(a) Paid copy of freight

bill retained to support

receipt of freight

charges:

(1) Bus express 1 year.

freight bills

provided no claim

has been filed.

(2) All other freight 1 year.

bills.

(b) Paid copy of freight

bill retained to support

payment of freight

charges to other

carriers:

(1) Bus express 1 year.

freight bills

provided no claim

has been filed.

(2) All other freight 1 year.

bills.

(c) Records of unsettled 1 year after disposition.

freight bills and

supporting papers.

(d) Records and reports 1 year.

of correction notices.

4. Other freight records:

(a) Records of freight 1 year.

received, forwarded, and

delivered.

(b) Notice to consignees 1 year.

of arrival of freight;

tender of delivery.

5. Agency records (to include

conductors, pursers,

stewards, and others):

(a) Cash books........... 1 year.

(b) Remittance records, 1 year.

bank deposit slips and

supporting papers.

(c) Balance sheets and 1 year.

supporting papers.

(d) Statements of 1 year.

corrections in agents'

accounts.

(e) Other records and 1 year.

reports pertaining to

ticket sales, baggage

handled, miscellaneous

collections, refunds,

adjustments, etc..

J. Transportation

1. Records pertaining to

transportation of household

goods:

(a) Estimate of charges.. 1 year.

(b) Order for service.... 1 year.

(c) Vehicle-load manifest 1 year.

(d) Descriptive inventory 1 year.

2. Records and reports

pertaining to operation of

marine and floating

equipment:

(a) Ship log............. 3 years.

(b) Ship articles........ 3 years.

(c) Passenger and room 3 years.

list.

(d) Floatmen's barge, 2 years.

lighter, and escrow

captain's reports,

demurrage records,

towing reports and

checks sheets.

3. Dispatchers' sheets, 3 years.

registers, and other records

pertaining to movement of

transportation equipment.

4. Import and export records 2 years.

including bonded freight and

steamship engagements.

5. Records, reports, orders 3 years.

and tickets pertaining to

weighting of freight.

6. Records of loading and 2 years.

unloading of transportation

equipment.

7. Records pertaining to the 2 years.

diversion or reconsignment

of freight, including

requests, tracers, and

correspondence.

8. Other..................... Note A.

K. Supporting Data for

Reports and Statistics

1. Supporting data for

reports filed with the

Federal Motor Carrier Safety

Administration, the Surface

Transportation Board, the

Department of

Transportation's Bureau of

Transportation Statistics

and regulatory bodies:

(a) Supporting data for 3 years.

annual financial,

operating and

statistical reports.

(b) Supporting data for 3 years.

periodical reports of

operating revenues,

expenses, and income.

(c) Supporting data for 3 years.

reports detailing use of

proceeds from issuance

or sale of company

securities.

(d) Supporting data for 3 years after disposition of the

valuation inventory property.

reports and records.

This includes related

notes, maps and

sketches, underlying

engineering, land, and

accounting reports,

pricing schedules,

summary or collection

sheets, yearly reports

of changes and other

miscellaneous data, all

relating to the

valuation of the

company's property by

the Federal Highway

Administration, the

Surface Transportation

Board, the Department of

Transportation's Bureau

of Transportation

Statistics or other

regulatory body.

2. Supporting data for 3 years.

periodical reports of

accidents, inspections,

tests, hours of service,

repairs, etc..

3. Supporting data for 3 years.

periodical statistical of

operating results or

performance by tonnage,

mileage, passengers carried,

piggyback traffic,

commodities, costs, analyses

of increases and decreases,

or otherwise.

M. Miscellaneous

1. Index of records.......... Until revised as record structure

changes.

2. Statement listing records For the remainder of the period as

prematurely destroyed or prescribed for records destroyed.

lost.

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Note A._Records referenced to this note shall be maintained as

determined by the designated records supervisory official. Companies

should be mindful of the record retention requirements of the Internal

Revenue Service, Securities and Exchange Commission, State and local

jurisdictions, and other regulatory agencies. Companies shall exercise

reasonable care in choosing retention periods, and the choice of

retention periods shall reflect past experiences, company needs,

pending litigation, and regulatory requirements.