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Summary dated 1st February 2020 of the essential legal provisions regarding the retention periods of your archives.
| Documents | Minimum retention period | Format | Start date of the retention period | Act |
|---|---|---|---|---|
| Archives (to be retained by the administrators): |
The failed party, or the administrators or managers of the failed legal entity have to retain the accounting documents and the archives if they are asked to do so by the insolvency administrator. They need to provide them at first request of the insolvency administrator. |
Article 3 Act August 11th, 2017 on the
insertion of Book XX “Insolvency of
companies” in the Code of Economic
Law, and on the insertion of the
definitions of Book XX and of the law
enforcement provisions of Book XX in
Book I of the Code of Economic Law
Article XX.138 Code of Economic Law |
||
| Archives serving as proof towards third parties | 7 years | Original or copy | From the moment the proceedings have been opened |
Article 3 Act August 11th, 2017 on the
insertion of Book XX “Insolvency of
companies” in the Code of Economic
Law, and on the insertion of the
definitions of Book XX and of the law
enforcement provisions of Book XX in
Book I of the Code of Economic Law
Article XX.138 Code of Economic Law |
| Documents not serving as proof towards third parties. These are documents not demonstrating a direct relationship with third parties | 3 years | Original or copy (methodical) | From the moment the proceedings have been opened |
Article 3 Act August 11th, 2017 on the
insertion of Book XX “Insolvency of
companies” in the Code of Economic
Law, and on the insertion of the
definitions of Book XX and of the law
enforcement provisions of Book XX in
Book I of the Code of Economic Law
Article XX.138 Code of Economic Law |
| Files drawn up by administrators | 5 jaar | Original | Following completion of their task |
Article 3 Act August 11th, 2017 on the
insertion of Book XX “Insolvency of
companies” in the Code of Economic
Law, and on the insertion of the
definitions of Book XX and of the law
enforcement provisions of Book XX in
Book I of the Code of Economic Law
Article XX.138 Code of Economic Law and article 2276bis Belgian Civil Code. |
Although we have composed this list with much care, Merak N.V. cannot be held responsible for any errors or any changes made to legislation.
Copyright 2020 Merak NV, all rights reserved.