Official Records Retention Schedules

Please Note: The UI Official Records Retention schedules are currently under revision. Updates will be posted periodically.

These retention schedules are designed to assist University departments in preserving Official Records appropriately while providing economy and efficiency in the creation, organization, maintenance, use, and disposition of records.

Search Criteria

Administrative Unit: represents either the administrative unit responsible for establishing the Official Record retention criteria OR the Administrative Unit responsible for maintaining the Official Records identified.

Confidential: indicates Official Records that contain information of various sorts that the University receives and holds confidential unless otherwise ordered by a court, by the lawful custodian of the records or by another person duly authorized to release such information. Examples include: student records, medical records, personnel records, etc.

Vital: indicates Official Records that contain information considered essential for the operations of a department (and/or the University) and includes information that may prevent a department from incurring serious liability or risk, or that would be extremely costly to replace. In the event of a disaster, this information, if destroyed, would make it difficult for a department to conduct normal business activities.

Export the full list of Official Record Retention Schedules available to date – or use the search criteria below for a more targeted search.

Tax Form 1095-B: Health Coverage

Category: Tax Records

Description:

Report filed annually with IRS and employees for the Affordable Care Act

Official Files Maintained by:
University Human Resources - Benefits Office

UI Retention Guidelines: 10 Years

Confidential: Yes
Vital: Yes

Tax Form 1095-C: Employer Provided Health Insurance Offer and Coverage

Category: Tax Records

Description:

Report filed annually with IRS and employees for the Affordable Care Act

Official Files Maintained by:
University Human Resources - Benefits Office

UI Retention Guidelines: 10 Years

Confidential: Yes
Vital: Yes

Tax Form 1098-E

Category: Tax Records

Description:

Student Loan Interest Statement filed annually with IRS by Student Financial Aid.

Official Files Maintained by:
Treasury Operations

UI Retention Guidelines: 10 Years

Confidential: Yes
Vital: Yes

Tax Form 1098-T

Category: Tax Records

Description:

Tuition Statement filed annually with IRS by University Billing/Treasury Operations.

Official Files Maintained by:
Treasury Operations

UI Retention Guidelines: 10 Years

Confidential: Yes
Vital: Yes

Tax Form 1099-B (2010 and later)

Category: Tax Records

Description:

Proceeds from Broker and Barter Exchange Transactions filed as necessary with IRS by Accounts Payable.

Official Files Maintained by:
UI Purchasing, Accounts Payable and Travel

UI Retention Guidelines: 10 Years

Confidential: Yes
Vital: Yes

Tax Form 1099-INT (2010 and later)

Category: Tax Records

Description:

Interest Income Paid to Recipients filed as necessary with IRS by Accounts Payable.

Official Files Maintained by:
UI Purchasing, Accounts Payable and Travel

UI Retention Guidelines: 10 Years

Confidential: Yes
Vital: Yes

Tax Form 1099-INT and 1099-B (pre year 2010)

Category: Tax Records

Description:

Forms 1099-INT and 1099-B filed with IRS for registered bond transactions prior to 2010.

Official Files Maintained by:
Treasury Operations

UI Retention Guidelines: 10 Years

Confidential: Yes
Vital: Yes

Tax Form 1099-MISC

Category: Tax Records

Description:

Form filed annually with IRS by UI Accounts Payable regarding miscellaneous income paid to recipients.

Official Files Maintained by:
UI Purchasing, Accounts Payable and Travel

UI Retention Guidelines: 10 Years

Confidential: Yes
Vital: Yes

Tax Form 1120 - U.S. Corporation Income Tax Return

Category: Tax Records

Description:

Income Tax Return filed annually with IRS for U of I Health System Inc. and Subsidiaries.

Official Files Maintained by:
UI Health Care

UI Retention Guidelines: Permanent

Confidential: Yes
Vital: Yes

Tax Form 1120-PC

Category: Tax Records

Description:

U.S. Property and Casualty Insurance Company Income Tax Return filed annually with IRS for Iowa Medical Mutual Insurance Co. (IMMIC)

Official Files Maintained by:
UI Health Care

UI Retention Guidelines: Permanent

Confidential: Yes
Vital: Yes

Tax Form 35-003 (Construction Contract Claim for Refund)

Category: Tax Records

Description:

Iowa Sales Tax Treatment for Construction Contracts filed by Purchasing with Iowa Dept. of Revenue & Finance based on Form 35-002 provided by Contractor on certain types of construction orders. Special Iowa sales tax exemption certificate instead may be provided to Contractor that would eliminate sales tax issues.

Official Files Maintained by:
UI Purchasing, Accounts Payable and Travel

UI Retention Guidelines: 5 Years

Confidential: Yes
Vital: Yes

Tax Form 40 North Dakota Income Tax Return

Category: Tax Records

Description:

Unrelated business income tax return filed annually with the North Dakota Department of Revenue by the Controller's Office.

Official Files Maintained by:
UI Tax Manager - Controller's Office

UI Retention Guidelines: Permanent

Confidential: Yes
Vital: Yes

Tax Form 4804

Category: Tax Records

Description:

Transmittal of Information Returns Reported Magnetically/Electronically filed annually with IRS by UI Payroll.

Official Files Maintained by:
University Human Resources - Payroll

UI Retention Guidelines: Permanent

Confidential: Yes
Vital: Yes

Tax Form 6559

Category: Tax Records

Description:

Transmitter Report and Summary of Magnetic Media filed annually with Social Security Administration by UI Payroll.

Official Files Maintained by:
University Human Resources - Payroll

UI Retention Guidelines: Permanent

Confidential: Yes
Vital: Yes

Tax Form 720 - Quarterly Federal Excise Tax Return

Category: Tax Records

Description:

PCORI fee from the Affordable Care Act payable annually from 2013 - 2019; filed annually with IRS by July 31.

Official Files Maintained by:
University Human Resources - Benefits Office

UI Retention Guidelines: 10 Years

Confidential: Yes
Vital: Yes

Tax Form 8038-GC

Category: Tax Records

Description:

Information Return for Small Tax-Exempt Governmental Bond Issues, Leases, and Installment Sales filed on or before the 15th day of the second calendar month after the close of the calendar quarter in which the issue is issued with IRS for copier leasing program utilizing tax-exempt financing.

Official Files Maintained by:
UI Purchasing, Accounts Payable and Travel

UI Retention Guidelines: 10 Years

Confidential: Yes
Vital: Yes

Tax Form 8282 - Donee Information Return

Category: Tax Records

Description:

Filed with IRS when donated property received is sold within 3 years. Filed only if UI sells or disposes of charitable deduction property within 3 years of receipt. (Dept. should consult with Tax Manager Office prior to selling donated property).

Official Files Maintained by:
UI Tax Manager - Controller's Office

UI Retention Guidelines: 10 Years

Confidential: Yes
Vital: Yes

Tax Form 8300

Category: Tax Records

Description:

Report of Cash Payments Over $10,000 Received in a Trade or Business. Must be filed with IRS w/in 15 days of receipt of cash. Local units receiving payments are required to file and maintain the record - however, notification copies must also be sent to Tax Manager Office (105 JH)

Official Files Maintained by:
Local Department responsible for creating or overseeing the record

UI Retention Guidelines: 10 Years

Confidential: Yes
Vital: Yes

Tax Form 941

Category: Tax Records

Description:

Employer's Quarterly Federal Tax Return filed quarterly with IRS by UI Payroll.

Official Files Maintained by:
University Human Resources - Payroll

UI Retention Guidelines: Permanent

Confidential: Yes
Vital: Yes

Tax Form 945

Category: Tax Records

Description:

Annual Return of Withheld Federal Income Tax filed annually to IRS by Accounts Payable.

Official Files Maintained by:
UI Purchasing, Accounts Payable and Travel

UI Retention Guidelines: Permanent

Confidential: Yes
Vital: Yes

Pages