Audit, Dept. of
Banking Division
Chapter 4: Records Retention
Effective Date: 10/02/2001 to Current
Rule Type: Current Rules & Regulations
Reference Number: 021.0002.4.10022001
CHAPTER 4—RECORDS RETENTION
Section 1. Authority; Scope.
(a) This Chapter is promulgated in part pursuant to W.S. 13-3-505.
(b) This Chapter specifies periods for which records of banks and trust companies must retain certain records. Under federal law, it also applies to national banks.
Section 2. Reproduction of Records; Electronic Retention of Records.
(a) Any bank or trust company subject to this rule may cause records in its custody to be reproduced by the micro-photographic or other equivalent process. Any reproduction shall have the same force and effect as the original and shall be admissible into evidence as if it were the original.
(b) Electronic retention of records is acceptable provided the records accurately reflect the original document and remain accessible for the prescribed periods.
Section 3. Classification of Records; Minimum Periods of Retention.
Each bank and trust company shall retain and preserve the records classified and described in this Section for the applicable minimum period set forth in this Section. Specific record descriptions not listed are to be retained consistent with prudent business practices and with the bank or trust company's policies.
Classification and Description of Records
Minimum Retention Period
Administration
Accounting and Auditing
| Accrual and bond amortization records (after period ends) |
1 year |
| Audit reports |
5 years |
| Audit work papers |
3 years |
| Bank Call reports |
Permanent |
| Bank Examination reports |
Permanent |
| Bills paid (statements and invoices) |
6 years |
| Budget worksheets |
1 year |
| Charged off asset records |
10 years |
| Corresidence |
3 years |
| Daily reserve computation |
2 years |
| Depreciation records, after life of asset |
3 years |
| Difference records |
3 years |
| Earnings and dividends report to supervisory agencies |
Permanent |
| Escheat records |
20 years |
| Reserve for losses on loans to banks |
Permanent |
| Securities value 'in and out' tickets |
6 years |
| Statement of Condition |
Permanent |
CAPITAL
| Capital stock certificates, records and stubs |
Permanent |
| Capital stock ledger |
Permanent |
| Capital stock transfer ledger |
Permanent |
| Dividend check register |
10 years |
| Dividend checks paid |
10 years |
| Proxies |
10 years |
| Receipt for stock certificates if issued |
Permanent |
| Register of and canceled certificates |
Permanent |
| Shareholder list |
Permanent |
| Statement of beneficial ownership |
Permanent |
CORPORATE
| Annual reports |
Permanent |
| Attachments and garnishments |
6 years |
| Charged off records |
10 years |
| Charitable contributions records |
5 years |
| Corporate by-laws |
Permanent |
| Court case records, after case has been terminated |
6 years |
| Determination of FDIC assessment base records, after date of filing |
5 years |
| Evidence of compliance with CRA |
2 years |
| Incorporation papers |
Permanent |
| Minutes of Directors meetings, stockholders meetings, and committees of the Board |
Permanent |
| Records of bank’s executive officers and shareholders’ indebtedness to bank correspondents, after paid |
5 years |
| Records of loans to executive officers, Directors, principal shareholders and officers after paid |
3 years |
| Records of outside business interests of bank’s executive officers, Directors, and principal shareholders, after length of services |
5 years |
GENERAL LEDGER
| Daily Statement of Condition |
Permanent |
| General ledger sheets/cards |
Permanent |
| General ledger tickets - debits and credits entries |
6 years |
| Transaction journals |
6 years |
INSURANCE
| Authorization statements and certificates for bank to act as insurance agent |
6 years |
| Blanket bond after termination |
6 years |
| Casualty liability policies expired |
6 years |
| Insurance schedules, records of premium payments and recoveries expired |
2 years |
| Records of policies in force |
3 years |
| Records relating to insurance sold by bank |
6 years |
Automated Teller Machines
| Application |
3 years |
| Closed ATM account numbers |
1 year |
| Correspondence with customer |
3 years |
| Deposit envelopes |
3 months |
| Transaction report |
3 years |
|
|
Collections/Contracts
| Collection letters, incoming |
3 years |
| Collection letters, outgoing |
3 years |
| Collection receipts |
3 years |
| Collection register |
3 years |
| Coupon envelopes |
1 year |
| Customers' file copies |
1 year |
| Department collection blotters |
2 years |
| Installment contract of note records, after period |
2 years |
| Obsolete and uncalled for collections, after escheated |
6 years |
Correspondent Banking
DUE FROM
| Advices from correspondent |
1 year |
| Bank Statements |
5 years |
| Drafts |
10 years |
| Draft Register |
10 years |
| Reconcilement letters |
1 year |
| Transit letters |
1 year |
DUE TO
| Copies of advices of debits or credits |
1 years |
| Drafts |
6 years |
| Incoming cash letter memos for credit |
1 year |
| Incoming cash letters for remittance |
1 year |
| Ledger cards or journal |
1 year |
| Proof sheets |
1 year |
| Reconcilement register |
2 years |
| Reconcilement verification |
1 year |
| Report of accounts - opened and closed |
1 year |
| Resolutions, after closing |
6 years |
| Signature cards, after closing |
6 years |
| Trial balances |
1 year |
| Undelivered statements and canceled checks |
6 years or escheat laws |
Customer Service
| Evidence of compliance with Reg E |
2 years |
| Night depository agreement, after closing |
6 years |
| Night depository receipts |
6 years |
| Safekeeping records and receipts |
6 years |
| Traveler's Checks (applications, receipts and reconciliations) |
2 years |
| Utility payment records |
6 years |
| Wire Transfer debit and credit entries |
6 years |
Demand Deposit Accounts/NOW Accounts
| Average balance report |
1 year |
| Batch proof |
1 year |
| Bookkeeping list of checks charged in total |
6 years |
| Check book orders |
1 year |
| Checks paid |
6 years |
| Closed account report |
2 years |
| Deposit tickets (copy) |
6 years |
| Dormant accounts, after escheated |
6 years |
| Individual ledgers |
6 years |
| Large transaction report |
1 year |
| Name and address change report |
2 years |
| New account report |
1 year |
| Overdraft/NSF Report |
1 year |
| Overdraft loan agreement |
6 years |
| Record of currency transaction more than $10,000 |
5 years |
| Resolutions, authorizations, after close |
6 years |
| Return item record |
1 year |
| Service charge report |
1 year |
| Signature cards (after close) |
6 years |
| Statement mailing order, after close |
2 years |
| Statement receipt cards |
2 years |
| Statement stubs |
2 years |
| Statements, customers |
6 years |
| Stop payment orders |
6 years |
| Stop payment report |
1 year |
| Transaction journal |
6 years |
| Trial balance |
1 year |
| Uncollected funds report |
1 year |
| Undelivered statement and canceled checks |
6 years or escheat laws |
| Wire transfer debit and credit entries |
6 years |
| Zero balance report |
1 year |
Demand Deposit Accounts/NOW Accounts – EDP
| Conversion (initial entry) run |
2 years |
| Customer statement |
6 years |
| Large balance changes |
1 month |
| Master file change |
6 months |
| New and closed accounts |
3 months |
| Service charges |
2 years |
| Stop payments |
6 years |
| Transaction journal |
2 years |
| Trial balance |
1 month |
| Uncollected funds |
1 month |
| Unposted items |
3 months |
| Zero balances |
1 month |
Investments
| Bond amortization records |
6 years |
| Bond ledger after disposition |
6 years |
| Broker's and securities dealers taxpayer identification number |
5 years |
| Broker's confirmation and invoices, after disposition |
6 years |
| Broker's statement, after disposition |
6 years |
| Credit information used to evaluate public and investment securities |
Until Sold |
| Description literature on currently owned securities |
6 years |
| Lost and Stolen securities, Form X-17-1A |
3 years |
| Municipal securities, Form MSD-4 and MSD-5 |
3 years |
| Record of broker/dealer securities transactions and amount of commission |
3 years |
| Safekeeping receipts-bank investment |
6 years |
| Safekeeping records and receipts |
6 years |
| Securities buy and sell orders |
6 years |
| Securities transactions |
3 years |
Loans
BANK CARDS
| Applications approved, after close |
6 years |
| Applications, declined |
25 months |
| Charged off loan records |
6 years |
| Daily debits and credits |
1 year |
| Merchants agreement |
6 years |
| Records of extension of credit exceeding $5,000 |
6 years |
| Resolutions, after closing |
6 years |
| Sales tickets or drafts |
6 years |
| Statements, cardholders |
5 years |
| Statements, merchants |
5 years |
| Stop lists |
1 year |
| Teller sheets |
2 years |
| Trial balance |
1 year |
| Transactional journal |
6 years |
COMMERCIAL LOANS
| Annual reports and customer statements |
6 years |
| Appraisal forms, after repayment of loan |
1 year |
| Certificates of national banks in support of loans based on consumer paper, after repayment |
1 year |
| Collateral cards or register |
6 years |
| Collateral pledge agreements, after close of loan |
1 year |
| Collateral receipts, after close of loan |
6 years |
| Credit files, after close of loan |
6 years |
| Debit and credit tickets (coupons) |
1 year |
| Disclosure records |
3 years |
| Hypothecation agreements, after close |
6 years |
| Liability ledger |
6 years |
| Loan applications, after term of loan |
6 years |
| Loan committee minutes |
6 years |
| Loan disbursement vouchers-cash receipts |
6 years |
| Margin cards |
3 years |
| Note and discount register |
6 years |
| Overdraft loan agreement |
6 years |
| Pledge agreement and pledge consent |
6 years |
| Receipt for coupons removed from collateral, after return |
6 years |
| Receipt for return of paid loan documents |
6 years |
| Record of currency transactions more than $10,000 |
5 years |
| Records of extension of credit exceeding $5,000 |
5 years |
| Repossession log |
6 years |
| Resolutions, after repayment of loan |
6 years |
| Teller sheets |
2 years |
| Transaction journal |
6 years |
| Trial balances |
1 year |
| Federal Reserve Form T-4 |
3 years |
| Report on extension of credit on a margin security, after close |
3 years |
| Federal Reserve Form U-1, U-2, U-3, U-4, U-5, U-6 |
3 years |
| Federal Reserve Form X-1 Report on Extension of credit obtained from sources outside United States, after closed |
6 years |
INSTALLMENT/CONSUMER LOANS
| Applications, approved, after close |
6 years |
| Applications, rejected |
25 months |
| Canceled notes |
3 years |
| Charged off notes |
6 years |
| Collateral records and receipts |
6 years |
| Consumer credit drafts |
6 years |
| Correspondence (customer, dealer and general) |
3 years |
| Coupons - loan payments |
6 years |
| Credit files, after closed |
6 years |
| Credit information card |
3 years |
| Daily proof sheets |
1 year |
| Daily worksheet and tapes |
1 year |
| Dealer ledger |
2 years |
| Dealer remittance sheets |
1 year |
| Evidence of compliance with: |
|
| Reg B, after notification |
25 months |
| Reg U (Loans secured by stock) |
3 years |
| Reg Z, after disclosure |
2 years |
| Ledger card, paid out |
6 years |
| Liability ledger |
6 years |
| New loan journal |
6 years |
| Note or discount tickler |
2 years |
| Note register |
6 years |
| Overdraft loan agreement, after closed |
6 years |
| Rebate receipts |
6 years |
| Records of extension of credit exceeding $5,000 |
6 years |
| Resolution, after loan is paid |
6 years |
| Student loan records, after paid |
4 years |
| Teller sheets |
2 years |
| Transaction journal |
6 years |
| Trial balance |
1 year |
INSTALLMENT/CONSUMER LOANS - EDP
| Daily payment journal |
6 years |
| Loan paid report |
2 years |
| New loan report |
2 years |
| Pay off and/or rebate report |
6 years |
| Trial balance, if only complete history on borrower |
6 years |
REAL ESTATE LOANS
| Annual reports and customer statements |
6 years |
| Consumer report and consumer credit information on rejected loans, after notification |
25 months |
| Court case records after case is terminated |
6 years |
| Evidence of compliance with Fair Credit Reporting Act |
25 months |
| Evidence of compliance with Reg C, Home Mortgage Disclosure Act, after closed |
5 years |
| Evidence of compliance with Reg Z after disclosure |
3 years |
| Evidence of compliance with RESPA |
25 months |
| FHA and VA loans and mortgages, after termination of loan |
6 years |
| Foreclosure records |
6 years |
| Home loan data, after notification or withdrawal of application |
25 months |
| Insurance tickler, after close of loan |
1 year |
| Ledger cards, paid out |
6 years |
| Liability ledger |
6 years |
| Loan credit files, after closed |
6 years |
| Mortgage payments |
1 year |
| Mortgage receipts |
1 year |
| Remittances, service mortgages |
6 years |
| Record of currency transactions more than $10,000 |
5 years |
| Teller sheets |
2 years |
| Trial balance |
1 year |
| Transaction journal |
6 years |
REAL ESTATE LOANS - EDP
| Daily payment journal |
6 years |
|
|
Official Checks, Certified Checks, Drafts and Money Orders
| Cashiers checks, paid |
6 years |
| Cashiers checks register, after payment |
6 years |
| Certified checks or receipts, paid |
6 years |
| Certified check register, after payment |
6 years |
| Draft register, after payment |
6 years |
| Drafts, canceled |
6 years |
| Expense checks, canceled |
6 years |
| Expense check register, after payment |
6 years |
| Expense vouchers or invoices |
6 years |
| Money order register, after payment |
6 years |
| Money orders, bank or personal, paid |
6 years |
| Official checks, paid |
6 years |
| Official checks register, after payment |
6 years |
Operations
MAIL, REGISTERED OR CERTIFIED
| Metered mail receipt books after date of final entry |
1 year |
| Registered and/or certified mail records (in and out) |
3 years |
| Return receipt cards |
3 years |
PROOF, CLEARINGS AND TRANSIT
| Advices of corrections to deposits |
2 years |
| Clearing house settlement sheets |
1 year |
| Copies of advices of corrections |
1 year |
| Departmental or tellers proof sheets |
1 year |
| Deposit proof sheets or tapes |
1 year |
| Inclearing envelopes, proof sheets or tapes |
1 year |
| Outclearing proof sheets or tapes |
1 year |
| Outgoing cash letters |
1 year |
| Proof sheets, transit |
1 year |
| Return item letters, checks not paid |
1 year |
TELLERS
| Blotter, teller sheets, and ATM tapes |
2 years |
| Cash book and/or blotter |
2 years |
| Cash item register |
1 year |
| Cash tickets |
1 year |
| Cash transaction report over $10,000 |
2 years |
| Currency shipment books |
3 years |
| Daily record of night depository bags |
1 year |
| Exchange tickets |
1 year |
| Interbranch clearings |
1 year |
| Machine tapes |
1 year |
| Over and short reports |
2 years |
| Return item register |
1 year |
| Recapitulation with general ledger |
2 years |
Stop payments notices 1 year
Personnel
| Annual welfare and pension plan Report - D2 |
5 years |
| Attendance records |
3 years |
| Benefit committee minutes |
Permanent |
| Benefits reports after closed |
20 years |
| Equal Employment Opportunity Act-Employment Information Report (EEO-1) |
6 years |
| Fair Labor Standards Act Evidence of compliance |
3 years |
| Insurance records |
6 years |
| Job applications and resumes after termination |
3 years |
| Job applications, declined |
25 months |
| Occupational Safety and Health Act forms 100, 101, and 102 |
5 years |
| Payroll records, deduction, overtime, employment records |
6 years |
| Profit sharing fund records after close |
20 years |
| Salary ledger |
6 years |
| Tax Reports |
|
| FICA and withholding 941 (Quarterly) |
5 years |
| Federal Unemployment Tax Report-940 |
5 years |
| State Unemployment Tax reports |
5 years |
| Wage and Tax Statement Records - W2, W3, and W4 |
5 years |
| Payroll records, A-4 tax returns |
5 years |
| Time cards |
6 years |
Safe Deposit
| Access tickets |
6 years |
| Contracts and/or signature cards, after closed |
6 years |
| Copies of rent receipts |
6 years |
| Correspondence |
3 years |
| Court orders and other records, after compliance |
6 years |
| Forced entry records |
6 years |
| Leases or contracts/closed accounts after closed |
6 years |
| Ledger record of account |
6 years |
| Power of attorney |
6 years |
| Receipts for delivery of will, burial, plot deeds, insurance policies |
6 years |
| Record of sale to satisfy lien |
6 years |
| Records of reports of contents of opened boxes |
6 years |
Security
| Bail money receipts and records |
Until Superseded |
| Camera surveillance log |
1 year |
| Evidence of compliance with Reg P |
5 years |
| Internal investigations, reports, after completed |
5 years |
| Law enforcement coordination notes |
5 years |
| Records showing law enforcement officers who advise on |
Permanent |
| operation of security devices |
|
| Security devices' checklist inspection records |
2 years |
| Vault records, access and maintenance |
2 years |
Taxes
FEDERAL
| Declaration of estimated tax (quarterly) |
10 years |
| Dividends and interest return information - annual |
10 years |
| Excise tax returns (quarterly) |
10 years |
| Income tax returns – corporate |
10 years |
| Income tax withheld-reconcilement after date of filing |
5 years |
| Nonresident alien withholding tax Form 1042 - 1042S |
3 years |
| Property tax (personal and real estate) |
7 years |
| Refund claims, disallowed and paid |
3 years |
| Sales and use tax |
3 years |
| Social Security and withholding tax returns, quarterly |
10 years |
| Unemployment tax returns from date of filing |
5 years |
Time Deposits
CERTIFICATES OF DEPOSIT AND OTHER TIME DEPOSITS
| Certificates, after term |
6 years |
| Interest check register, after paid |
1 year |
| Ledger cards |
6 years |
| Signature cards, after closed |
6 years |
| Taxpayer identification number, after redemption |
6 years |
| 1099 Form |
2 years |
| Transaction journal |
6 years |
| Trial balance |
1 year |
| Withdrawal request |
6 years |
SAVINGS ACCOUNTS
| Deposit tickets |
6 years |
| Dormant accounts, after escheated |
6 years |
| IRA account records, after closed |
6 years |
| Ledger cards |
6 years |
| New and closed accounts report |
1 year |
| Passbooks canceled |
Destroy |
| Powers of attorney |
6 years |
| Records of currency transaction over $10,000 |
5 years |
| Resolutions, authorizations, after close |
6 years |
| Signature cards |
6 years |
| Statements, customer |
5 years |
| Taxpayer ID number, after redemption |
6 years |
| Teller sheets |
2 years |
| 1099 Forms |
2 years |
| Transaction journal |
6 years |
| Trial balance |
1 year |
| Undelivered statements, or escheat laws |
6 years |
| Wire transfer debit and credit entries |
6 years |
| Withdrawals, receipts |
6 years |
SAVINGS ACCOUNTS – EDP
| Closed accounts, control |
6 months |
| Current active accounts |
3 years |
| Customer statements |
6 years |
| Daily transactions journal |
6 months |
| Executive report |
1 year |
| Interest report |
7 years |
| Open and closed accounts |
6 months |
| Savings statement – microfilm |
5 years |
| Transaction journal |
6 years |
CLUB ACCOUNTS
| Check register |
6 years |
| Checks, canceled |
6 years |
| Coupons, deposit tickets |
2 years |
| Ledger cards |
6 years |
| Passbooks, canceled |
Destroy |
| Signature cards, after closed |
6 years |
| Transaction journal |
6 years |
| Trial balance |
1 year |
| Withdrawal receipts |
6 years |
Trust
CORPORATE
| Bond ledgers |
6 years |
| Bonds of indemnity |
Permanent |
| Brokers’ purchase and sales confirmations |
7 years |
| Brokers’ statements |
7 years |
| Canceled bonds |
Return to originating company |
| Canceled coupons |
Return to originating company |
| Canceled stock certificates |
Return to originating company |
| Corporate trust ledgers |
Permanent |
| Correspondence after closing |
3 years |
| Dividend and coupon ledger |
Permanent |
| Dividend and interest disbursement checks |
7 years |
| Dividend checks, after paid |
6 years |
| Dividend records cards, closed |
7 years |
| Receipts or disposition records for canceled stock certificates |
6 years |
| Registration journals |
Permanent |
| Signature files, closed |
7 years |
| Stock transfer ledger |
Permanent |
| Stock transfer memos |
Return to originating company |
| Stock transfer receipts |
7 years |
| Tax returns |
Permanent |
| Transfer journals |
Permanent |
| Transfer tax waivers |
7 years |
| Trust receipts for exchange or substitution of collateral |
7 years |
PERSONAL
| Accounting for other fiduciaries and decrees of receipts and releases settling their accounts |
Permanent |
| Advices of payment, after closed |
6 years |
| Appraisals of real and personal property |
10 years after closing |
| Authorizations, directives, approvals |
Permanent |
| Brokers' statements, after closed |
6 years |
| Buy and sell orders, after closed |
6 years |
| Cash ledger sheets |
Permanent |
| Cash ticket balances |
1 year |
| Cash vouchers |
6 years |
| Copies of wills |
Permanent |
| Correspondence, after closing |
3 years |
| Coupon collection record |
6 years |
| Coupon trust ledger |
Permanent |
| Daily debits and credits |
6 years |
| Federal and state estate tax returns and related papers, after closed |
10 years |
| Federal gift tax returns, after closed |
10 years |
| Federal nominees information return Form 1087 |
7 years |
| Investment ledger |
Permanent |
| Journal sheets |
Permanent |
| Ledger records |
Permanent |
| Legal opinions and related correspondence |
Permanent |
| Minutes of investment and trust committee meetings |
Permanent |
| Paid bills, after closing |
6 years |
| Real estate mortgage documents and related materials, after closed |
7 years |
| Receipts for assets delivered, after closing |
7 years |
| Rent collection, mortgage and loan contract collections, after closing |
6 years |
| Safekeeping records and receipts after closing |
6 years |
| Security bonds |
Permanent |
| Security ledger sheets |
Permanent |
| Trust check register |
6 years |
| Vouchers, probate trust |
6 years |