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DIVISION OF INSURANCE RECORDS RETENTION AND DESTRUCTION SCHEDULEState of South Dakota Bureau of Administration Records Management Program (605) 7733589Printed on Recycled PaperACKNOWLEDGEMENTS PREPARED
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01
Determine the relevant laws and regulations regarding records retention and destruction in your jurisdiction.
02
Identify the types of records that need to be retained and for how long.
03
Create a systematic filing and categorization system for your records.
04
Establish a schedule for regular review and disposal of outdated records.
05
Train employees on proper record-keeping procedures and the importance of records retention.
06
Monitor and track record retention and destruction activities to ensure compliance.
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Consider using electronic record management systems to streamline the process.
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Document all record retention and destruction activities for future reference and audit purposes.

Who needs records retention and destruction?

01
Businesses and organizations of all sizes and industries need records retention and destruction.
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Government agencies and institutions also require proper management of records.
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Legal and medical professionals have specific regulatory requirements for records retention and destruction.
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Financial institutions and accounting firms must adhere to strict record-keeping regulations.
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Non-profit organizations and educational institutions should also implement records retention and destruction policies.
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Basically, any entity that generates and maintains records in the course of their operations can benefit from records retention and destruction practices.
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Records retention and destruction is the process of managing and storing important documents for a specified period of time before securely disposing of them.
All organizations, businesses, and individuals who generate and maintain records are required to file records retention and destruction.
Records retention and destruction forms must be completed with details on the types of records being retained, the retention period, and the method of destruction.
The purpose of records retention and destruction is to ensure that important documents are securely stored for legal and compliance reasons, while also preventing the unnecessary accumulation of records.
Information such as the types of records being retained, the retention period, and the method of destruction must be reported on records retention and destruction forms.
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