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Retention of records

How retention of records works.


Documents must be retained for a certain number of years, depending on the legislation.

Below are the prescribed retention periods which commence from the date of the last entry in the record.


Close Corporations


A founding statement, (CK1 or CK2 and CK2A), minute books and resolutions passed at meetings.

15 years

Accounting records, annual financial statements, and report of the accounting officer.



Indefinite  –

Registration certificate, Memorandum of Incorporation and alterations or amendments, rules, securities registers, register of company secretary and auditors.

7 years

Notice and minutes of shareholders meetings, resolutions adopted, records of directors, minutes and resolutions of directors meetings, reports presented at the AGM, annual financial statements, accounting records.

7 years

Any other company records (if a longer period is not specified in terms of another act).



5 years

Returns submitted.


Capital gains tax

5 years

All records to date of sale including base costs and valuations, thereafter from date return lodged.



5 years

Returns submitted and records supporting information disclosed therein, including invoices, debit notes, credit notes, bank statements, stock lists, paid cheques.

5 years

Documents supporting zero-rating of supplies.


Employee records

5 years

Including records of remuneration paid, PAYE withheld employee’s income tax reference number, EMP501.


Micro businesses

5 years

Records of income, dividends declared, assets owned and liabilities exceeding R10 000.


Records may be retained electronically provided they can be reprinted.