How often must dealerships revisit their compliance with a document retention policy?

The recommended frequency for dealerships to revisit their compliance with a document retention policy is annually. This practice ensures that the dealership is consistently adhering to legal requirements and industry best practices regarding the retention and disposal of documents.

Conducting an annual review allows dealerships to assess whether their policies are up-to-date with changes in regulations, technology, or business practices. It also helps identify any gaps in compliance and ensures that all documents are retained for the appropriate periods as required by law, which can help avoid potential legal issues or fines. Regularly revisiting the policy ensures that staff members are aware of their responsibilities and the importance of complying with these guidelines in their daily operations.