sales and purchase records
For sales and purchase records, regulation is 29 CFR Part 516; regulator / programme is DOL Wage and Hour (FLSA); retention period is at least 3 years; who it binds is each employer, recorded from its source on 2026-08-11.
- Regulation
- 29 CFR Part 516 verified
- Regulator / programme
- DOL Wage and Hour (FLSA) our reading
- Record type
- sales and purchase records verified
- Retention period
- at least 3 years verified
- Who it binds
- each employer verified
Values marked our reading are our classification of what the source says — the source does not print them in those words. The quote below is the evidence for each one; judge it yourself.
What the source says
Each employer shall preserve for at least 3 years: ( a ) Payroll records. From the last date of entry, all payroll or other records containing the employee information and data required under any of the applicable sections of this part, and ( b ) Certificates, agreements, plans, notices, etc. From their last effective date, all written: ( 1 ) Collective bargaining agreements relied upon for the exclusion of certain costs under section 3(m) of the Act, ( 2 ) Collective bargaining agreements, under section 7(b)(1) or 7(b)(2) of the Act, and any amendments or additions thereto, ( 3 ) Plans, trusts, employment contracts, and collective bargaining agreements under section 7(e) of the Act, ( 4 ) Individual contracts or collective bargaining agreements under section 7(f) of the Act. Where such contracts or agreements are not in writing, a written memorandum summarizing the terms of each such contract or agreement, ( 5 ) Written agreements or memoranda summarizing the terms of oral agreements or understandings under section 7(g) or 7(j) of the Act, and ( 6 ) Certificates and notices listed or named in any applicable section of this part. ( c ) Sales and purchase records. A record of ( 1 ) total dollar volume of sales or business, and ( 2 ) total volume of goods purchased or received during such periods (weekly, monthly, quarterly, etc.), in such form as the employer maintains records in the ordinary course of business.
— ecfr.gov, retrieved 2026-08-11
Source
- ecfr.govhttps://www.ecfr.gov/current/title-29/part-516