Full source list for What records do I have to keep, for how long, and where?
Six numbered references for /wayfinder/refs/record-keeping-obligations:
1. Tax-side record-keeping: section 22 of the Tax Administration Act 1994 requires every person carrying on a business or other taxable activity to keep sufficient records to enable the Commissioner to ascertain the person's tax liability. Records must be kept in English or te reo Maori (or another language with Commissioner approval), and retained for at least 7 years after the end of the income year to which they relate. Section 22(3) allows the Commissioner to require retention for an additional 3 years (10 years total) by notice before the 7-year period expires. Records may be kept in electronic form per the Electronic Transactions Act 2002 provisions.
2. Company-governance record-keeping: section 189 of the Companies Act 1993 requires every company to keep certain records at its registered office, including the constitution, share register, minutes of meetings and resolutions, copies of written communications to shareholders, and accounting records. Section 194 specifies that accounting records must be kept for at least 7 years after balance date, must correctly record and explain transactions, and must enable directors to verify the financial position and to prepare financial statements. The share register under section 87 must show shareholder details for at least 10 years past any share transfer.
3. Employment-side record-keeping: section 130 of the Employment Relations Act 2000, section 4F of the Wages Protection Act 1983, and section 81 of the Holidays Act 2003 require employers to keep wages and time records, holiday and leave records, and certain other employment records for at least 6 years after the records are made — even if the employee has left employment. Failure to keep records is enforceable by the Labour Inspector under the Employment Relations Act.
4. Electronic record-keeping: the Electronic Transactions Act 2002 and the IRD's Standard Practice Statement SPS 21/02 (Retention of business records by electronic means) establish the framework for keeping records in electronic form. Requirements include: reliable means of assuring integrity, ready accessibility for inspection, accurate reproduction of original records, and (for offshore storage) Commissioner authorisation under section 22(8) of the Tax Administration Act.
5. Records that must be kept for the life of the company: the constitution (if adopted), the certificate of incorporation, and the share register (with at least 10 years' worth of shareholder history). The Companies Act provides for these to be kept at the registered office; failure to maintain them is a procedural breach but more substantively a problem if any question arises about the company's structure, share allotments, or constitutional provisions.
6. Privacy Act over-retention obligation: information privacy principle 9 of the Privacy Act 2020 provides that personal information must not be kept for longer than is necessary for the purposes for which it lawfully may be used. The reconciliation with statutory retention obligations is that the statutory period establishes the "necessary" period for the relevant records. Disposal at the end of the statutory period (with any Commissioner extension factored in) is the right discipline; indefinite retention of personal information beyond statutory periods creates Privacy Act exposure.