Storing accounting documents – the great shredding?

We hope your new year is off to a good start!

Did you start the new year with new year’s resolutions? If this includes “tidying up” and you also happen to work in accounting, you can now get down to business. This is because the statutory retention periods for accounting documents in Germany were shortened starting January first 2025. Now they only have to be kept for eight years instead of ten (§ 257 HGB and § 147 AO). This includes e.g. invoices and receipts. However, the retention period for business letters remains unchanged at 6 years, for example.

Before you rush straight to the shredder and destroy the documents from 2014 to 2016, here are a few notes on data protection:

• Check the deadline:
  Define (together with the responsible persons) for your company how long accounting documents should be kept: the legally required 8 years or longer (this would have to be substantiated)?
• Check the data protection notice:
  The specific retention period for personal data may be published in the data protection notice. If this is the case for you, these texts must be adapted.
• Update documentation (in foxondo or your record of processing activities):
  The current specific retention periods must be documented internally and updated now. In foxondo, this is done in the respective processes in question PG-380 (or in the personnel administration in PHR-250; there is of course already a checkbox “8 years” for you 😉).

The legal retention periods are derived from the respective, subject-specific laws. Incidentally, you can find a non-binding summary of typical legal retention periods in our practical guide in the customer area (or on request).