Keep disclosure records for at least six years
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- For each franchisee or prospective franchisee, list the information disclosed in writing, the documents given, and the documents used to support a statement or claim in a disclosure document, with the date each was given. Calculate six years from the giving, and six years from the date the disclosure document was most recently given for the supporting documents. Do not decide that a document is complete.
- What the lawyer must review
- The lawyer decides what was disclosed in writing, what was given, and which documents support a statement or claim. The records are kept for at least 6 years after they were given. Supporting documents are kept for at least 6 years after the disclosure document was most recently given. The page says failure may lead to penalties. No penalty amount was opened.
- Written for / version
- US
Open a jurisdiction version of this task to see which instruments apply: US
Who does what
| Role | What they do |
|---|---|
| Assistance | For each franchisee or prospective franchisee, list the information disclosed in writing, the documents given, and the documents used to support a statement or claim in a disclosure document, with the date each was given. Calculate six years from the giving, and six years from the date the disclosure document was most recently given for the supporting documents. Do not decide that a document is complete. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Three classes are kept: information disclosed in writing, documents given, and documents that support a statement or claim.
- Supporting documents run for six years from the most recent giving of the disclosure document, not only from the first giving.
- Do not state a penalty amount. The penalties page was not opened.
Sources
- ACCC, information and document obligations · 2026-10-22
These are suggested working checks. Confirm the required checking with the responsible lawyer before work starts; the checking approach does not establish permission to use AI.
Related tasks
Draft or review a franchise disclosure document against the prescribed headingsCheck the franchisor's disclosure and any registration the jurisdiction requiresDraft or review a franchise agreement from the disclosure and the term sheetBuild a franchisee due-diligence issues list from the disclosure pack