The records and information to be retained under this Part shall be retained for:

1. (a) A period of 3 years from the due date of the return or date filed, whichever is later, unless the retention of the data is required for a longer period of time as a result of:

   1. (1) An extension of the statute of limitations on the assessment of taxes;
   2. (2) The commencement of an adjudicative proceeding involving the parties; or
   3. (3) The completion of any litigation in which the data may be relevant; and
2. (b) The specific period required under the statute or rule pertaining to a tax administered by the department, if longer than the period specified in (a) above.

Source. #8389, eff 7-8-05; ss by #10388, eff 7-25-13; ss by #13660, eff 6-21-23