Retaining sponsored research records is mandated by federal, state and local regulations, as well as MIT policy. Retaining records also provides a way to monitor activity and resolve problems.
Retention Times and Responsibilities
Legal and audit requirements generally dictate how long financial and project records should be retained.
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The VPF is responsible for retaining financial records uploaded to VPF financial systems. If locally storing paper or electronic records, follow the Financial Record Retention Chart retention times.
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The Principal Investigator is responsible for retaining scientific and technical data per sponsor and award terms, as well as related compliance documentation.
When requirements for long-term retention of records overlap, the responsible office should retain records for the maximum period needed to meet legal and audit requirements. If MIT and sponsor policies differ, follow the longer retention time.
Longer retention times apply to certain documents retained by central offices. For information on a specific document or category of documents, consult with the office responsible for processing that type of transaction.
Regulations
The Federal Acquisition Regulation (FAR), Uniform Guidance, the IRS and other federal, state, and local regulations govern the auditing and retaining of records. Retention requirements are typically defined by the type of award (grant, contract, cooperative agreement) and the sponsor (federal, non-federal, foundation).
- Federal awards that fall under OMB's Uniform Guidance: See Retention Requirements for Records § 200.334
- Federal contracts: See FAR Subpart 4.7 - Contractor Records Retention.
Updated December 15, 2025