Corporate Record Keeping is the systematic practice of documenting and organizing a company's important information and transactions, ensuring compliance with regulations and facilitating informed decision-making.
Starts at $0 + state fees and only takes 5-10 minutes
Last Updated: March 9, 2026
There are a wide variety of corporations across the country, but what do all of those corporations have in common? In a word: paperwork. Corporate record keeping is a big part of running a corporation.
There are dozens of forms that each corporation needs to fill out and keep on file for several years: tax forms, annual reports, the business ledger, and more. This guide explores what corporate records are, how they’re kept, and more.
Corporate records are vital documents about a business. For example, a corporation’s Articles of Incorporation are part of the company’s corporate records — in fact, this document is one of the first records the business will create. Other documents in the record include company bylaws, business ledgers, tax returns, meeting minutes, and more (see the bylaws definition for more information).
All corporations are required by law to maintain a detailed corporate record, and neglecting this record could have rather serious legal repercussions.
In addition to being legally required, keeping corporate records has practical value for a business. For example, company records help entrepreneurs track their corporation’s progress over the years, and their tax returns from previous years will help them complete future tax returns.
Corporate records also maintain what is commonly called the “corporate veil,” which is the division between the corporation’s assets and the personal assets of the corporation’s members.
These records prove that the business is compliant, and without that compliance, the owner’s personal assets could be in jeopardy. Essentially, proper records protect an entrepreneur and their business during any lawsuits and audits.
Finally, good records can increase a company’s value by demonstrating its worth. If the owner ever wishes to sell their business, the buyer will want to see its records to back up the “sticker price” the owner set.
The records kept by a business vary. Some have a lot of tax records, while others may only have the bare minimum. One corporation will have a board that meets frequently, and the board of another company will have only one meeting a year.
That said, there are a lot of documents that all corporations will need to include in their records, although the exact requirements can vary a bit depending on the state, as well as the industry the business operates in. In general, though, here are several of the things a company’s record should include:
Please note that this is not a comprehensive list. There may be other items a business needs to include, and it’s also possible that a specific corporation may not need to keep every single record listed above.
If in doubt, entrepreneurs should ask themselves if the document is a record that could be requested in an audit or used as evidence in a lawsuit. If so, it’s probably worth keeping in the corporate record.
While the law generally dictates that a business owner must keep records, it does not explicitly say how to keep them. So entrepreneurs have the liberty to choose how they keep their records. There are many possibilities, but every entrepreneur should ensure their records are organized, thorough, and protected.
Traditionally, corporate records have been kept as printed, hard-copy files in a physical kit. Some corporations still use this method, but many opt for more environmentally friendly electronic files. With either method, it’s prudent for entrepreneurs to keep their records backed up in case of loss; for example, paper files would be susceptible to fire and water damage, and online files could get deleted or lost by accident.
Records are created by several members of the corporation. The board of directors creates bylaws, resolutions, and annual reports. The corporate secretary creates the minutes during each board meeting. Accountants at the corporation are often tasked with creating and maintaining financial records, tax returns, bank statements, and other financial documents. All of these documents, once created, need to be maintained in the company’s corporate records.
These records do not have to be kept permanently, however (imagine how big the records would be for century-old corporations). The length of time a corporation needs to keep a record depends on the document in question. For example, tax returns usually need to be kept for six years.
For more information on how long to keep documents and other essentials of record-keeping, business owners can consult the IRS’s publication, Starting a Business and Keeping Records. Check out the corporate kit definition guide for more information.
There is no filing requirement for a company’s corporate records. Corporate law requires a business to maintain the records, but the owners do not need to file them with the IRS or the Secretary of State. If an entrepreneur has documents they’re unsure about, they may want to consult a business attorney for further guidance.
Corporate record-keeping can be confusing and difficult, even for small corporations. The biggest challenge with record-keeping is simply making sure that the business has all the necessary documents on hand. After all, if the company is ever audited or if the business is sued, the company owners could be in serious trouble if they don’t have all the necessary forms.
If the extensive record-keeping requirements of a corporation sound too daunting, perhaps forming a limited liability company (LLC) would be a better choice for an entrepreneur, as this entity type requires far fewer records to be kept.
Recommended articles
Disclaimer: The content on this page is for information purposes only and does not constitute legal, tax, or accounting advice. For specific questions about any of these topics, seek the counsel of a licensed professional.
Ready to Start Your Business?
Scan to download
the ZenBusiness app
