Introduction:
Archiving obligations are among the most important tasks of companies. Because only those who keep their documents properly can prove their rights in the event of a dispute.
But which documents have to be kept and for how long? Which regulations apply to the electronic archiving of documents? And what are the penalties for violations?
In this article you will find out everything you need to know as an entrepreneur about archiving obligations.
Which documents are to be archived?
As an entrepreneur, you have to archive numerous documents. These include, among others:
- trading books
- financial statements
- inventories
- payroll accounting
- bills
- business letters
- contracts
Retention periods
How long do documents need to be kept? Document retention periods may vary depending on the type of document and the company. In principle, trading books, inventories and annual financial statements as well as the work instructions and other organizational documents required to understand them must be kept for ten years. Payslips must be kept for six years.
For business letters and invoices, the retention period depends on their content. Invoices that are also accounting documents within the meaning of § 148 AO or that are required to be submitted to the tax office must be kept for ten years. In all other cases, the retention period is six years.
Electronic archiving
What is to be considered? Strict rules also apply to the electronic archiving of documents. The archived documents must be available, unchangeable and authentic at all times.
To do this, you must take appropriate precautions to prevent changes to the archived documents. This includes, among other things, archiving the documents in a file format that prevents subsequent modification.
Data protection
What regulations apply to the archiving of personal data? When archiving personal data, companies must observe special regulations. This includes, among other things, that the data may only be used for the purpose for which it was collected. In addition, the data must be protected against unauthorized access.
So it is important that the data must be transmitted and stored in encrypted form. The General Data Protection Regulation (GDPR) provides for high fines in the event of violations.
Regularity
How must the archived documents be kept? The archived documents must be kept properly. This includes, among other things, that the documents must be stored in an orderly and systematic manner. It is advisable to sort the documents according to their content or the date they were created.
In addition, the documents must be stored in such a way that they are protected from external influences such as fire, water or theft.
Control duties
How can companies fulfill their archiving obligations? In order to fulfill their archiving obligations, companies should regularly check whether all required documents have been archived and whether the retention periods are being observed.
You can keep an archiving log. You should also ensure that all employees are informed about the archiving obligations and also comply with them.
Fines
What is the risk of violating the archiving obligations? Violations of the archiving obligations can result in high fines. The exact amount of fines depends on various factors, such as the type of violation and the size of the company.
Fines can be up to 25,000 euros or even more. In addition, a violation of the archiving obligations can also lead to claims under civil law.
Summary
Significance of archiving obligations for companies The archiving obligations are of great importance for companies, as they serve as evidence in the event of a dispute. Companies have to archive numerous documents and observe various rules.
This includes the retention periods, the proper storage of the documents and compliance with data protection regulations. Violations of the archiving obligations can result in high fines.
FAQ:
1. Which documents do companies have to archive?
Account books, financial statements, inventories, payslips, invoices, business letters, contracts and other relevant documents.
2. How long do documents have to be kept?
Retention periods can vary depending on the type of document and the company.
Which regulations apply to the electronic archiving of documents?
The archived documents must be available at all times, unchangeable and authentic. Appropriate precautions must be taken to prevent changes.
- What do companies have to consider when it comes to data protection?
Personal data must only be used for the purpose for which it was collected. The data must be protected against unauthorized access. Violations can result in high fines.
- How can companies fulfill their archiving obligations?
By regularly checking, keeping an archiving log and training employees.
In conclusion, it can be said that companies should take their archiving obligations very seriously, as they can serve as proof in the event of a dispute. Observing the retention periods, the proper storage of the documents and compliance with data protection regulations are particularly important here. Violations of the archiving obligations can result in high fines, which is why companies should definitely comply with these regulations.
