Document Retention and Destruction Policy

The OASIS Document Retention and Destruction Policy addresses the retention and destruction of records pertaining to corporate governance, corporate finance and operations, correspondence and records relating to member contributions to the creation of specifications and standards. Where there may be discrepancies (ex: correspondence relevant to a standard) the longer of the two retention periods shall apply. The definitive official copy of documents stored as paper are stored in the headquarters office. Documents stored in electronic or digital form will be maintained on servers or devices under the control of OASIS. Documents under the control of OASIS in whatever form shall be retained according to the Record Retention Schedule. Destruction shall mean any of deletion, recycling, or discard. Secure destruction shall mean any of incineration, shredding, or secure erasure as appropriate to the storage media type. OASIS may or may not destroy or securely destroy non-definitive or duplicate copies at any time. OASIS management will, under guidance of OASIS counsel, circulate staff communications directing the suspension of any destruction of paper or electronic documents when appropriate, relevant to any ongoing or anticipated government investigations, proceedings, or litigation or when OASIS has received a mandatory order to produce information. Thereafter, routine document destruction can only resume with approval of OASIS counsel. This policy will be executed by OASIS staff under the responsibility of the Executive Director as s/he instructs. A one time review of all document types will be conducted before March 2011 in order to identify those (sets of) records that should already be destroyed.

OASIS Open Record Retention Schedule

“Indefinite” means that records are never destroyed and that measures are in place to avoid accidental or attempted deliberate destruction.

“x Years” means that records MAY be destroyed x years after the most recent modification or amendment to the record and SHOULD be destroyed as soon thereafter as is administratively feasible.

All references refer to records maintained by OASIS in contrast to copies of those records that may be retained by a third party.

DOCUMENT CATEGORIES DOCUMENTS PERIOD OF RETENTION SECURE DESTRUCTION CORPORATE GOVERNANCE ARTICLES OF INCORPORATION INDEFINITE IRS FORM 1023 AND LETTER OF DETERMINATION INDEFINITE BYLAWS, CHARTER, MINUTE BOOKS INDEFINITE BOARD POLICIES INDEFINITE BOARD MEETING MINUTES AND RESOLUTIONS INDEFINITE LEGAL AND TAX CORRESPONDENCE INDEFINITE COPYRIGHTS, PATENTS, TRADEMARK REGISTRATIONS INDEFINITE DEEDS, MORTGAGES, AND EASEMENTS IN FORCE INDEFINITE MEMORANDUM OF UNDERSTANDING INDEFINITE AUDIT / TAX IRS FORM 990 INDEFINITE ANNUAL TAX FILINGS (STATE AND OTHER REQUIRED FILINGS) INDEFINITE TAX RETURNS AND WORKING PAPERS INDEFINITE AUDIT REPORT AND FINANCIAL STATEMENTS INDEFINITE MONTHLY OPERATIONS REPORTS INDEFINITE IRS FORM 1099 (FEES PAID TO PROFESSIONALS) 7 YEARS REQUIRED W-2 STATEMENTS, PAYROLL TAX RETURNS 7 YEARS REQUIRED FINANCIAL RECORDS CHART OF ACCOUNTS INDEFINITE ACCOUNTING POLICIES AND PROCEDURES INDEFINITE GENERAL LEDGERS AND JOURNAL ENTRIES INDEFINITE ANNUAL TRIAL BALANCES INDEFINITE CAPITAL STOCK AND BOND RECORDS INDEFINITE CHECKS FOR TAXES, CAPITAL PURCHASES. IMPORTANT CONTRACTS INDEFINITE DEPRECIATION SCHEDULES INDEFINITE CONTRACTS AND AGREEMENTS IN FORCE INDEFINITE ADMINISTAFF CONTRACTS & RENEWALS INDEFINITE SPONSORSHIP AND FOCUS AREA AGREEMENTS 7 YEARS EXPIRED CONTRACTS AND AGREEMENTS 7 YEARS INSURANCE POLICIES INDEFINITE INSURANCE RECORDS: ACCIDENTS, CLAIMS, ETC. INDEFINITE DONATIONS AND DONOR ACKNOWLEDGEMENTS INDEFINITE ACCOUNTING RECORDS PAYROLL REGISTERS INDEFINITE ACCOUNTS PAYABLES LEDGERS 7 YEARS VOUCHERS FOR PAYMENTS TO VENDORS, EMPLOYEES, ETC. 7 YEARS VENDOR CONTRACTS 7 YEARS PURCHASING CORRESPONDENCE, PURCHASE ORDERS 7 YEARS EXPENSE REPORTS 7 YEARS CREDIT CARD RECEIPTS 3 YEARS ACCOUNTS RECEIVABLES LEDGERS 7 YEARS INVOICES AND OTHER SALES RECORDS 7 YEARS CASH RECEIPT RECORDS 7 YEARS DEPOSIT SLIPS / CANCELLED CHECKS 7 YEARS CHECKS OTHER THAN THOSE DESCRIBED ABOVE 7 YEARS BANK RECONCILIATIONS 3 YEARS BANK STATEMENTS 10 YEARS PERSONNEL INFORMATION EMPLOYEE HANDBOOK INDEFINITE EMPLOYEE OFFER LETTERS INDEFINITE EMPLOYEE PERSONNEL FILES 7 YEARS REQUIRED JOB APPLICATIONS & Pre-employment Background Checks 3 YEARS REQUIRED PERSONNEL FILES, TERMINATED 7 YRS AFTER TERMINATION REQUIRED PAYROLL RECORDS, TIMESHEETS 7 YEARS REQUIRED EMPLOYEE PERFORMANCE REVIEWS, DOCUMENTATION 7 YEARS REQUIRED JOB DESCRIPTIONS AND SALARY RANGES 7 YEARS REQUIRED EMPLOYEE WITHHOLDING TAX STATEMENTS 7 YEARS REQUIRED EMPLOYEE DISABILITY BENEFITS RECORDS 7 YEARS REQUIRED EMPLOYEE BENEFIT ENROLLMENTS 7 YEARS REQUIRED WORKMANS COMPENSATION RECORDS 7 YEARS REQUIRED MANAGEMENT PLANS AND PROCEDURES STRATEGIC PLANS 7 YEARS DISASTER RECOVER PLANS 7 YEARS GENERAL GENERAL CORRESPONDENCE inc EMAIL 2 YEARS REQUISITIONS 2 YEARS TECHNICAL COMMITTEE RECORDS MEMBERSHIP AGREEMENTS INDEFINITE MEMBER PARTICIPATION RECORDS INDEFINITE EMAIL INDEFINITE DOCUMENTS INDEFINITE MEETING MINUTES INDEFINITE APPROVED STANDARDS INDEFINITE VOTING RECORDS INDEFINITE PUBLIC COMMENTS INDEFINITE IPR DECLARATIONS & STATEMENTS INDEFINITE