Most often, the regulations for the specific industry dictate the retention
period. However, business need must be established if there is a desire to
retain the records longer than the regulation requires.

Some regulations (for example, 18 CFR 125.3.21) require that the following
items be retained until retired:

The original or reproduction of engineering records, drawings, and other
supporting data for proposed or as-constructed utility facilities: Maps,
diagrams, profiles, photographs, field survey notes, plot plan, detail
drawings, records of engineering studies, and similar records showing the
location of proposed or as-constructed facilities.

The harm in retaining records longer than required depends on certain
factors. Some examples are:

     Costs to save records indefinitely
     Costs of maintaining the records
     Risk of litigation and discovery

Thanks!

Amy

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