GNYADA 2019 Membership Directory & Services Guide

RECORD RETENTION

This chart is intended to serve only as a tool to assist in developing a document retention policy. The retention periods listed are minimum suggested periods, however, business practice or law may require preserving records for a longer period of time. You should consult with your counsel or accountant to ensure that your record retention practice meets both federal and state guidelines and is appropriate for your business. The same rules apply to electronic record retention. Electronic records must be easily accessible during an audit. Contact GNYADA preferred vendor AutoTrieve for information on how to securely scan & store your electronic documents.

2019 membership directory & services guide / hot topics PG 115 DEALER RECORDS REPAIR SHOP INSPECTION STATION RECORDS Document Type Certificate of Sale (Form MV-50) Dealer Plate Issuance Program Plate/ Permit Issuance Log In-transit Permit Log Invoice or Bill of Sale Odometer Disclosure Statement (form MV-103) Police Books (Books of Registry) Proofs of Ownership (e.g., MSO, MCO, Title) Secure Power of Attorney (Form MV-93) Appraisals Estimates Airbag/System Log Book Repair Invoices Parts Purchase Orders Repair Orders Daily Inspection Report Emissions InspectionWaiver Inspection Certificate Purchase Invoices Inspection Rejection Notice Motor Vehicle Inspection Records Vehicle Inspection Receipt

DMV RECORDS

Retention Period

Paper Required

5 years 5 years

Yes No

5 years 5 years 5 years 3 years

Yes No No Yes Yes No No Yes No No No Yes Yes No No No No No

Until Vehicle Ownership

is Transferred

5 years

2 years 2 years 2 years 2 years 2 years 2 years 2 years 2 years 2 years 2 years 2 years 2 years

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