Laws Governing Document Storage and Destruction

Health Insurance Portability & Accountability Act (HIPAA)
Gramm-Leach-Bliley Act (1999) Financial Services Modernization Act
The Fair and Accurate Credit Transaction Act (FACTA)
Disposal of Consumer Report Information and Records
Federal Privacy Act of 1974
Economic Espionage Act of 1996 (EEA)
The Sarbanes-Oxley Act

Frequently Asked Questions

Frequently Asked Questions about Document Storage and Disposal

Our Affiliations

National Association for Information Destruction (NAID)
Firelock Modular Vaults

 

Health Insurance Portability & Accountability Act (HIPAA)
HIPAA was enacted in 1996 and the mandatory compliance date is April 14, 2003. All hospitals, doctors, pharmacies, health plans, medical billing companies and any other business entity involved in the healthcare industry must comply. The rules apply to all protected health information. The Standard for Privacy of Identifiable Health Information requires that covered entities put in place administrative, technical and physical safeguards to protect the privacy of protected health information. One example given of a safeguard for the proper disposal of paper documents containing protected health information is that the documents be shredded prior to disposal.

Gramm-Leach-Bliley Act (1999) Financial Services Modernization Act
This Federal legislation went into effect in 2000, the privacy provisions in the law require that financial institutions and insurance companies give consumers prior notice of an intention to share personal information and a chance to opt out of the sharing of such information. The law states that these institutions and companies need to "respect the privacy of its customers and to protect the security and confidentiality of those customers' non-public information." The language suggested in the Safeguard Rule that paper documents containing such personal information should also be protected and safely destroyed.

This Safeguards Rule requires all financial institutions to design, implement and maintain safeguards to protect customer information. The Safeguards Rule applies not only to financial institutions that collect information from their own customers, but also to financial institutions – such as credit reporting agencies – that receive customer information from other financial institutions.

The Fair and Accurate Credit Transaction Act (FACTA)
In general, the Act amends the Fair Credit Reporting Act (“FCRA”) to enhance the accuracy of consumer reports and to allow consumers to exercise greater control regarding the type and amount of marketing solicitations they receive. FACT Act also establishes uniform national standards in key areas of regulation regarding handling and disposal of consumer information in the possession of all companies and organizations.

DISPOSAL OF CONSUMER REPORT INFORMATION AND RECORDS
In short, any person or entity who maintains or otherwise possesses consumer information, or any compilation of consumer information, for a business purpose must properly dispose of such information by taking reasonable measures to protect against unauthorized access to or use of the information in connection with its disposal. Reasonable measures to protect against unauthorized access to or use of consumer information in connection with its disposal would include: Implementing and monitoring compliance with policies and procedures that require the burning, pulverizing, or shredding of papers containing consumer information so that the information cannot be read or reconstructed. Implementing and monitoring compliance with policies and procedures that require the destruction or erasure of electronic media containing consumer information so that the information cannot be read or reconstructed.

Federal Privacy Act of 1974
This law was established in 1974 to insure that government agencies protect the privacy of individuals and businesses with regard to information held by them and to hold these agencies liable for any information released without proper authorization.

Economic Espionage Act of 1996 (EEA)
The Economic Espionage Act is a very powerful law which helps with the enforcement of properly handling information. This law is the first federal law that defines and severely punishes misappropriation and theft of trade secrets. However, according to this Act, the government will only protect companies who take "reasonable measures" to safeguard their information.

The Sarbanes-Oxley Act of 2002 (often shortened to SOX)
Legislation enacted in response to the high-profile Enron and WorldCom financial scandals to protect shareholders and the general public from accounting errors and fraudulent practices in the enterprise. The act is administered by the Securities and Exchange Commission (SEC), which sets deadlines for compliance and publishes rules on requirements. Sarbanes-Oxley is not a set of business practices and does not specify how a business should store records; rather, it defines which records are to be stored and for how long. The legislation not only affects the financial side of corporations, but also affects the IT departments whose job it is to store a corporation's electronic records.

The Sarbanes-Oxley Act states that all business records, including electronic records and electronic messages, must be saved for "not less than five years." The consequences for non-compliance are fines, imprisonment, or both. IT departments are increasingly faced with the challenge of creating and maintaining a corporate records archive in a cost-effective fashion that satisfies the requirements put forth by the legislation.

 

 

Below are common questions and answers about our services at RMS.

What makes RMS better than other records vendors?
RMS offers you superior personal service, second to none. Our company is built upon the philosophy of building and maintaining a close personal business relationship with you. We work closely with you at all times--even long after we first provide service to you. In order to serve you to our best ability, we stay in touch with you to respond to the needs of your company as they evolve. Also, you can always reach a live person at RMS who is ready to help you.

What else is better, specifically, about the service you provide?
In a word: Technology. We use a records management system, that is a combination of software and hardware that enables RMS to track your records every step of the way, starting at the time a records box or computer data container is first picked up from your company. Bar code labels are affixed to your items, and then scanned by our delivery personnel to verify your work order and ensure 100% accuracy every time. Once your items are scanned, you are handed a receipt listing each barcode number, date, time, person accepting the order, and delivery personnel's name. This information also goes directly into our records management database for quick search, management and retrieval. We give you a work order receipt with real-time accuracy at the time of pick up or delivery.

Can RMS save me money?
Yes. Here's how...
Reduce personnel - eliminate the cost of salaries, benefits and taxes.
Reduce overhead - eliminate additional rent, insurance and utilities.
Reduce liability - count on RMS for proper retention procedures, based on your retention schedules.
Increase productivity - focus on your core business by rededicating your efforts to revenue production.
Improve the flow of information - retrieve your documents in hours, not days.
You also reduce your risk of misplacing files and documents, or of losing important records to theft or fire and water damage.

How do I know my documents are safe?
The facilities storing your important documents are protected by 24-hour security systems--motion detectors, alarms, and restricted entry.

How do I know my documents won't get mixed up with someone else's?
Every item at RMS is barcoded. These barcodes are assigned specifically to an account. This also helps ensure the anonymity of your documents. Each location throughout our facility is also barcoded. This ensures that we know the exact location of each and every box, file, and computer tape at all times. Every time something is moved, it is scanned into a new location. We track everything from the time it gets picked up, unloaded, put on a shelf or in a slot, pulled down, and delivered. Through the power of this barcode system, we can give you the time, day, and person involved in every movement of your items.

How long will it take for me to retrieve a box, file, or drawing?
Standard service is within 24 hours, but often sooner. Priority service is also available, which will get you your order on an RUSH delivery within 90 minutes.

How much does it cost to store my documents or computer tapes at RMS?
Files are typically stored for mere pennies per day. For price quote please contact us by email – jims@rmsstorage.com, or phone 304-263-0199.

How will I know which boxes my files are in?
Before any material is removed from your site, a records management expert will meet with you to develop a strategy that meets your particular needs.

What type of box should I put my files in?
We highly recommend that you use double-walled letter/legal 1.2 cubic feet boxes with lids. Always use boxes that are made for file storage (not moving boxes, copy paper boxes, etc.). The cost per box through RMS is usually less than you can find in stores.

How should I index my files?
The indexing of the files is the most important step in starting a successful relationship, so we want to make sure we have all the needed information. The best way to organize your index is to think of how you would request a file once it is in storage. Whatever information you use to identify a file, is the information you should use to index it. If you need help, you can meet with one of our records management experts. To set up an appointment simply contact us.

Do I have to use RMS inventory sheets, if I already have my inventory on my computer?
No, if you already have a complete listing of your files and boxes you can just add the RMS barcode number onto the listing, then email or fax it straight to your RMS representative.

How do I retrieve a box or file?
To place an order, either use phone, fax or e-mail us. Be sure to always include your name, company name, and phone number on all requests.

What do I do if I need to have boxes picked up from my office?
To place an order, either use phone, fax or email us. Be sure to always include your name, company name, and phone number on all requests.

How do I get more supplies, such as boxes or barcode labels?
Either call, fax, or email us. Be sure to always include your name, company name, and phone number on all requests.

If I only need one file, do I need to get the whole box?
No. Tell us what file you need and we will pull it out of the box, barcode it, and deliver it to you. Every file that is removed from a box is barcoded so that we can track its movement. This ensures that the file will never be misplaced.

If I have paperwork that needs to be placed into a file at RMS do I have to access the entire file?
No, RMS provides interfiling services. Just provide us with the correct box information and we will place the paperwork into the file for you. Always make sure that the company name appears on the paperwork, in case we have any questions.

Can I go through my boxes at RMS?
Yes. Simply let us know what boxes you need, and when you would like to view the boxes at our facility. There will be a room reserved for your company. We request 24-hour notice to reserve a room.

Are boxes destroyed on the destroy date that is entered in the database?
No, nothing will ever be destroyed unless there is express written consent on your company letterhead by an authorized person from your company.

Can I store blue prints at RMS?
Yes. RMS can provide you with special boxes that are made to hold blue prints.

How can I estimate how much my boxes weigh?
A typical 1.2 “bankers box” weighs about 25 lbs.