# sales and purchase records — How long federal regulations require records to be kept: retention periods, what starts the clock, and who they bind

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: appears in the quote below)_
- **Regulator / programme:** DOL Wage and Hour (FLSA) _(our reading, not quoted from the source)_
- **Record type:** sales and purchase records _(verified: appears in the quote below)_
- **Retention period:** at least 3 years _(verified: appears in the quote below)_
- **Who it binds:** each employer _(verified: appears in the quote below)_

## 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.

## Source

- https://www.ecfr.gov/current/title-29/part-516

Last verified: 2026-08-11. Review by: 2027-08-11.
Part of [How long federal regulations require records to be kept: retention periods, what starts the clock, and who they bind](https://referencesource.org/record-retention-periods-federal/).