How long do you need to keep your records?
A fiscal retention period of seven years applies to your basic business data. Think of your sales and purchase administration, general ledger, and overviews of customers who still have to pay and suppliers that you still have to pay. A period of ten years applies to certain data.
| Data type | Retention period |
|---|---|
| Core administration, including purchasing, sales, general ledger, and accounts receivable and payable | 7 years |
| Data regarding immovable property and rights relating thereto | 10 years |
| Data concerning supplies of goods and services under the Union or Import scheme of the one-stop shop | 10 years |
| Other administrative data | In principle 7 years; a shorter fiscal term only if agreed with the Tax and Customs Administration |
Use this table as a starting point. The retention period does not start immediately on the invoice or signing date for every document. Furthermore, a statutory minimum retention period does not mean that you can dispose of a document afterwards without further review. The Dutch Tax and Customs Administration clarifies the deadlines and exceptions.
When does the retention period start?
As long as data remains current for your business, it remains part of your records. The retention period only begins when that currency expires. The date on which you receive a document is therefore not always the start date.
Example: a contract that runs for multiple years
Suppose you use a lease contract for four years. It remains current throughout that term. Once it has ended, the seven-year retention period begins. You therefore keep that contract during the term and for another seven years after that. This example shows why ‘throwing everything away seven years after receipt’ does not work.
During your annual archive check, distinguish between closed annual documents and ongoing records. For contracts, note the end date, and for tax exceptions, the reason for the longer term. If in doubt, have the start date determined before destroying anything.
What documents and data belong to your records?
Do not just keep the grand totals, but also the documents with which you can explain those totals. An annual overview without underlying invoices is not a complete set of accounts.
- Turnover and costs: sent and received invoices, credit notes, till receipts, and purchase and sales overviews.
- Payments: bank statements, cash administration and relevant payment overviews.
- Appointments: contracts, order confirmations and business messages that substantiate the content of a transaction.
- Tax returns and audits: tax return data, annual accounts and calculations that explain the reconciliation with your bookkeeping.
- Supporting registrations: for example, inventory data, hours, journeys and calendars that are important for your records or tax claims.
- Digital administration the records and data that keep the bookings verifiable.
Which registrations you need depends on your business and the schemes you use. The Tax authorities provide examples of administrative data. For more details on hours, see our article on time tracking for freelancers.
Are you allowed to store invoices and receipts digitally?
Yes. If you receive or send an invoice digitally, you must also keep the digital file. Just keeping a printout and deleting the original file is not the correct standard procedure for this.
You may scan paper invoices and receipts. The scan must accurately and completely represent the original, including relevant authenticity features. Only when you meet the conditions do you no longer need to keep the paper original. A blurry photo with a cropped date or amount is therefore not a good replacement.
Check all pages, attachments and legibility when scanning. Save the file with the corresponding booking. The rules for retaining invoices also apply if you use an app or bookkeeping package.
Legible is more than ‘I've got a PDF somewhere’
You need to be able to retrieve documents and link them to your bookings. Digital data must also be verifiable within a reasonable period. When switching software, the administration must remain usable; just a screenshot of the annual turnover is not sufficient. See how to keep your records according to the tax authorities.
How to set up a usable digital archive
- Choose a fixed layout. For example, per financial year, with separate folders for purchases, sales, bank, tax returns and ongoing agreements. Use names that include the date, counterparty and invoice number.
- Save files with their context. Ensure that you can find the invoice from a booking, and vice versa. In addition to a readable report, store the relevant accounting export and source files.
- Make a separate backup. A second folder within the same account doesn't help if that entire account becomes inaccessible. Choose storage where the loss of a single account or device doesn't immediately affect your entire archive.
- Test the retrieval. Open some older invoices, look up a payment and check whether the corresponding entry and return details can be found.
- Maintain a retention schedule. Record the timeframe, start date and any current arrangements or queries preventing deletion for each category.
This working method is a practical proposal for your archive, not a mandatory folder structure. The aim is that you and your accountant understand what has been recorded and that an audit remains possible.
What do you need to arrange when switching or cancelling?
The statutory retention period does not disappear when you choose a different accounting package, dismiss your accountant or stop your business. Records that someone else keeps for you also fall under this. The The Tax and Customs Administration explicitly states this.
Settle before terminating access:
- a complete export of the bookings and associated documents;
- the annual figures, tax returns and relevant audit calculations;
- an explanation of file formats and how to open the data later;
- written agreements on who keeps which documents and for how long you retain access;
- a check as to whether the exported archive is truly complete and readable.
Do not assume that a cancelled subscription remains readable indefinitely. Check the terms and test your own export before you lose access. If a file can only be opened with specific software, you must also arrange for future accessibility.
What if pieces are missing?
First, make a list: which document is missing, from which year, and for which booking? Request missing invoices from the sender and check available bank and software archives. Record what you have recovered and which gaps remain.
A bank payment shows that money has been transferred, but it does not automatically replace the invoice with all the details regarding the purchase. Therefore, do not fill in missing pieces yourself based on assumptions. Discuss with your accountant what the absence means for the records and any tax returns.
Frequently Asked Questions
Do I also need to keep records if I use the VAT exemption scheme (KOR)?
The KOR does not abolish your statutory record-keeping obligation. Keep the data necessary to substantiate your turnover, costs and application of the scheme. Which filing obligations you have is a different question to how long you keep your records.
Is a bank statement alone sufficient if I have lost a receipt?
No, a payment does not automatically prove what you bought and the VAT that was charged. Request a copy of the receipt or invoice and make a record if that is not possible. The tax treatment depends on the available data.
Can my accountant keep everything for me?
You can make arrangements about that, but you must ensure yourself that the required administration remains available. Record access, export options, retention periods and the transfer upon termination of the cooperation.
Should I delete every file after seven years?
No. First check whether the correct retention period has expired and when it started. A longer fiscal term, a still ongoing contract or another relevant obligation may mean that you need a document for longer.
