B-92-1 - Bank and Trust Record Retention

                          

 

 

 

 

 

 

   REGULATION  B ‑ 92 ‑ 1

 

    BANK AND TRUST RECORD  RETENTION

 

    EFFECTIVE  JULY 1, 1992

 

 

     REPLACES REGULATION 79‑3

 

 

      TABLE OF CONTENTS

 

 

 

 

SECTION NUMBER                                  SUBJECT                                                    PAGE

 

   One                               Applicability and Scope                              1

 

   Two                               Procedures                                           1

 

   Three                             Electronic Data Processing                           2

 

   Four                              Sanctions                                            2

 

   Appendix I                        Bank Record Retention Schedule                     A‑1

 

   Appendix II                       Trust Record Retention Schedule                    A‑10

 

 

 

 

 

 

 

 

 

REGB92‑1

 

 

  PAGE 1

 

   REGULATION B‑92‑1

 

    BANK AND TRUST RECORD RETENTION

    EFFECTIVE JULY 1, 1992

 

     REPLACES REGULATION 79‑3

 

SECTION ONE:  APPLICABILITY AND SCOPE

 

1.1       These regulations ("regulations") are issued pursuant to 8 V.S.A. Section 502.  Section 502 requires the Commissioner of Banking, Insurance and Securities (the "Commissioner") to issue regulations classifying all records kept by banks and prescribing the period for which records of each class shall be retained.

 

1.2       These regulations apply to banks as defined in 8 V.S.A., Section 2(1).  The types of institutions included in this definition are state‑chartered savings banks and state‑chartered commercial banks.

 

1.3       These regulations apply to records created on or after July 1, 1992.

 

1.4       These regulations do not apply to those records created prior to July 1, 1992.  The retention period applicable to such records shall be the period required at the time such record was created.

 

SECTION TWO:  PROCEDURES

 

2.1         Banks shall retain all records except records relating to trust powers in accordance with the Bank Record Retention Schedule provided in Appendix I of these Regulations.  Banks with trust powers shall retain records relating to trust powers in accordance with the Trust Record Retention Schedule provided in Appendix II of these regulations.

 

2.2       Banks shall retain records for at least the minimum periods of time specified in Appendix I and Appendix II of these regulations.  If a bank does not maintain records enumerated therein, but retains similar records with equivalent information, the bank's records shall be retained for the period of time specified therein for such equivalent records.

 

2.3       Photographic copies, microphotographic copies or similar reproduction of records shall be treated as the equivalent of original records for the purposes of compliance with these regulations.

 

           PAGE 2

 

2.4        Records that are not specifically enumerated in Appendix I and Appendix II of these regulations but that are subject to retention requirements pursuant to other state laws or regulations, federal laws or regulation, court orders or bank policies shall be retained for the period specified by such applicable requirements.

 

2.5        Records subject to longer retention periods than those specified in Appendix I and Appendix II shall be retained for the longer period.  Such longer retention periods include those imposed by courts, other governmental agencies, or bank policies.

 

2.6            A bank shall adopt and implement a written policy to protect records from theft, fire, vandalism, loss, damage, or unauthorized access.

 

SECTION THREE:  ELECTRONIC DATA PROCESSING

 

3.1       Retention periods specified for records listed in Appendix I and Appendix II apply to equivalent records produced or maintained by means of Electronic Data Processing.

 

3.2            A bank shall adopt and implement a written policy to protect Electronic Data Processing files from theft, fire, vandalism, loss, damage, or unauthorized access.

 

 

SECTION FOUR:  SANCTIONS

 

4.1            A bank which violates any provision of these regulations is subject to administrative penalties in accordance with 8 V.S.A., Section 501 et seq., and in accordance with all other applicable state laws and regulations.

 

 

 

 

 

 

                                                                         

Jeffrey P. Johnson

Commissioner of Banking,

Insurance and Securities

 

 

 

 

 

 

REGB92‑1.doc

 

 

REGULATION B‑92‑1

 

APPENDIX I

 

      BANK RECORD RETENTION SCHEDULE

 

 

         RECORD SERIES                                              PAGE

 

1.   Automatic Teller Machine Cards                            A‑1

2.   Audit ‑ General                                           A‑1

3.   Central File                                              A‑1

4.   Collection                                                A‑1

5.   Corporate                                                 A‑1

 

6.   Correspondent Accounts                                    A‑2

7.   Coupon                                                    A‑2

8.   Credit Cards (Originating Bank)                           A‑2

9.   Demand Deposit Accounts                                   A‑2

10.  General Ledger                                            A‑3

 

11.  Insurance                                                 A‑3

12.  International (Foreign)                                   A‑3

13.  Investment                                                A‑4

14.  Loans ‑ Consumer/Commercial                               A‑4

15.  Loans ‑ Mortgage/Home Equity                              A‑5

 

16.  Mail/Wire Money Transfer                                  A‑6

17.  Miscellaneous                                             A‑6

18.  Personnel                                                 A‑6

19.  Proof and Transit                                         A‑7

20.  Purchasing                                                A‑7

 

21.  Reports and Returns                                       A‑7

22.  Safe Deposit                                              A‑7

23.  Safekeeping                                               A‑8

24.  Savings and Time Deposits                                 A‑8

25.  Tellers                                                   A‑8

 

 

 

 

 

 

 

 

 

 

                                                                      APPENDIX I

                                                                       A‑1

                REGULATION  B‑92‑1

                 BANK RECORD RETENTION SCHEDULE

 

                                                   NO. OF YEARS    NO.  OF YEARS

                                       NO. OF         AFTER       AFTER TERMINATION

RECORD SERIES                          YEARS       CLOSING ACCT    OF TRANSACTION  

 

1.  AUTOMATIC TELLER MACHINE ("ATM")  CARDS

 

Application. . . . . . . . . . . . . . . .3                                         

Closed ATM Account Numbers . . . . . . . . . . . . . . . 1                          

Correspondence with Customer . . . . . . .3                                          

Deposit Envelopes. . . . . . . . . . . 3 Months                                     

Transaction Report . . . . . . . . . . . .3                                         

 

2.  AUDIT ‑ GENERAL

 

Audit Workpapers for

Department and Branch Examination. . . . .7                                         

 

Loan & Deposit Confirmation Letters. . . .5                                         

 

3.  CENTRAL FILE

 

Change of Address Notices. . . . . . . . .1                                          

Change of Title Notices. . . . . . . . . .1                                         

Closed Account Record. . . . . . . . . . .1                                         

Open and Closed Account Report . . . . . .1                                          

 

4.  COLLECTION

 

Collection Tracers . . . . . . . . . . . .1                                         

Correspondence re Incoming

Collections ‑ Acknowledgments. . . . . . .7                                         

Register . . . . . . . . . . . . . . . . .7                                         

Settlement . . . . . . . . . . . . . . . .3                                         

 

5.  CORPORATE

 

Annual Report to

Stockholders Condition Report . . . . . PERMANENT                                     Bank Charter, Incorporation Papers

and Other Authority to do Business. . . PERMANENT                                     Capital Stock Certificate and Stock . . PERMANENT                                     Capital Stock Ledger. . . . . . . . . . PERMANENT                                     Dividend Checks (after paid)

and Dividend Register . . . . . . . . . . .7                                        

Minute Books: Directors, Stockholders

& Executive Committee Meetings. . . . . PERMANENT                                     Proxies . . . . . . . . . . . . . . . . . .7                                        

Resolutions . . . . . . . . . . . . . . PERMANENT                                     Stock Certificate and Register Books. . PERMANENT                       

                                                                                        

 

                                                                      APPENDIX I

                                                                       A‑2

                REGULATION  B‑92‑1

                 BANK RECORD RETENTION SCHEDULE

 

                                                   NO. OF YEARS    NO.  OF YEARS

                                       NO. OF         AFTER       AFTER TERMINATION

RECORD SERIES                          YEARS       CLOSING ACCT    OF TRANSACTION  

 

6.  CORRESPONDENT ACCOUNTS

 

Advices. . . . . . . . . . . . . . . . . .3                                         

Drafts . . . . . . . . . . . . . . . . . .3                                          

Reconcilements . . . . . . . . . . . . . .3                                         

Statement. . . . . . . . . . . . . . . . .3                                         

Travelers Check Settlement . . . . . . . .3                                          

 

7.  COUPON

 

Insurance Register . . . . . . . . . . . .2                                         

Outgoing Coupon Letter . . . . . . . . . .3                                         

Settlement Sheets. . . . . . . . . . . . .3                                          

Transmittal Letters‑U.S. Series EE

Bonds Paid Quarterly Statement . . . . . .2                                         

 

8.  CREDIT CARDS (ORIGINATING BANK)

 

Advice of Service Fee

Charged to Merchant Accounts . . . . . . .1

Applications (Granted and denied). . . . .3

Closing of Accounts. . . . . . . . . . . . . . . . . . . 7                     

Correspondence with Customer . . . . . . .3                                         

Profit and Loss log on Merchant Fees . . .1                                         

Sales Drafts (microfilm) . . . . . . . . . . . . . . . . . . . . . . . . . . 7  

Statements (microfilm) . . . . . . . . . . . . . . . . . . . . . . . . . . . 7  

 

9.  DEMAND DEPOSIT ACCOUNTS

 

Accrual Records. . . . . . . . . . . . . .3                                         

All Records to Reconstruct

a Demand Deposit Account . . . . . . . . .7                                         

Attachments. . . . . . . . . . . . . . . .7                                          

Authority File

(Corporate/Organizational Resolution). . . . . . . . . . 7                      

Charge Off Records . . . . . . . . . . . . . . . . . . . 7                      

Check Book Order Forms . . . . . . . . . .1                                          

Checks and Deposit Tickets . . . . . . . .7                                         

Copies of Charges for Items

Previously Deposited and Returned. . . .6 Months                                    

Dormant Activity Report. . . . . . . . . .7

Items Returned

Reported by Telephone or Wire. . . . . . .1                                         

Kiting Suspect Report. . . . . . . . . .6 Months                                    

New Account Setup/Maintenance

Worksheets/Data Entry Reports. . . . . . .1                                         

Overdraft Report . . . . . . . . . . . .6 Months                                    

Protest Notices Received . . . . . . . . .1                                         

Reconcilement to General Ledger. . . . . .1                                         

Return Items (Outgoing). . . . . . . . . .1                                         

 

                                                                                                                                                         APPENDIX I

                                                                       A‑3

                REGULATION  B‑92‑1

                 BANK RECORD RETENTION SCHEDULE

 

                                                   NO. OF YEARS    NO.  OF YEARS

                                       NO. OF         AFTER       AFTER TERMINATION

RECORD SERIES                          YEARS       CLOSING ACCT    OF TRANSACTION  

 

9.  DEMAND DEPOSIT ACCOUNTS (continued)

 

Signature Card . . . . . . . . . . . . . . . . . . . . .7                           

Significant Balance

Fluctuation Report . . . . . . . . . . 6 Months                                     

Statements (Photographic Image) . . . . . 3                      

Stop Payment Order

(Signed Customer's Copy) . . . . . . . . .1                                         

Transaction Journal (Posted,

Rejected, and/or Suspended). . . . . . . .7                                         

Trial Balance. . . . . . . . . . . . . . .1                                         

Uncollected Funds Report . . . . . . . 6 Months                                     

Undelivered Customer's

Checking Account Statements. . . . . . . .7                                     

 

10. GENERAL LEDGER

 

Assets, Liabilities,

and Capital Account Ledgers . . . . . PERMANENT                                     

Certified Checks (if held) . . . . . . . .7                                         

Daily Debits and Credits. . . . . . . PERMANENT                                      

Daily Statement of Condition. . . . . PERMANENT                                     

Earnings and Profit

and Loss Statements . . . . . . . . . PERMANENT                                     

Journal Sheets . . . . . . . . . . . . . .7                                         

Official Checks (i.e., Bank,

Cashier's, Treasurer's, etc.). . . . . . .7                                         

Official & Certified Check Registers . . .7                                         

Settlement Sheets. . . . . . . . . . . . .7                                         

 

11. INSURANCE

 

Bankers Blanket and Employee Bonds . . . 21                                         

Casualty Liability Policies. . . . . . . .3                                          

Insurance Policies . . . . . . . . . . . .3                                         

Insurance Records ‑

Fire, Accident and Liability. . . . . . .21                                         

 

12. INTERNATIONAL (Foreign)

 

Acceptances‑‑Foreign Exchanges. . . . PERMANENT                                     

Acceptances Purchased Books. . . . . . . .7                                         

Advice Checks Drawn for our Accounts . . .7                                         

Applications for Postal Registration . . .7                                         

Bills of Exchange. . . . . . . . . . . . .7                                         

Cable Orders . . . . . . . . . . . . . . .7                                         

Cash Letters . . . . . . . . . . . . . . .7                                         

Checks and Drafts. . . . . . . . . . . . .7                                         

Collateral Records . . . . . . . . . . . .7                                         

Collections. . . . . . . . . . . . . . . .7                                         

Contracts and Contract Cards . . . . . . .7                                         

 

                                                                      APPENDIX I

                                                                       A‑4

                REGULATION  B‑92‑1

                 BANK RECORD RETENTION SCHEDULE

 

                                                   NO. OF YEARS    NO.  OF YEARS

                                       NO. OF         AFTER       AFTER TERMINATION

RECORD SERIES                          YEARS       CLOSING ACCT    OF TRANSACTION  

 

12. INTERNATIONAL (Foreign) ‑ continued

 

Correspondence . . . . . . . . . . . . . .7                                           Credits (paid) . . . . . . . . . . . . . .7                                           Debits and Credits . . . . . . . . . . . .7                                           Federal Reserve Reports‑Monthly

Report re Foreign Exchange Position. . . .7                                           Foreign Drafts Issued‑‑Register. . . . . 20                                           General Ledger Cards . . . . . . . . . . .7                                           Letters of Credit Dead . . . . . . . . . .7                                           Letters of Credit Ledger . . . . . . . PERMANENT                                    

Letters of Credit Issued (copies). . . . .7                                           Liability Cards (individual) . . . . . PERMANENT                                     

Mail Transfers . . . . . . . . . . . . . .7                                           Our Accounts/Their

Accounts Ledger Cards. . . . . . . . . PERMANENT                                    

Paid Foreign Drafts. . . . . . . . . . . .7                                           Preliminary Contracts. . . . . . . . . . .2                                       

Receipts for Cash Payments

and Security Deliveries. . . . . . . . . .7                                           Register of Checks & Drafts Drawn. . . . .7                                           Record of Foreign Exchange

Bought and Sold. . . . . . . . . . . . . .7                                           Remittances  . . . . . . . . . . . . . . .7                                           Settlement Sheets. . . . . . . . . . . ..10                                           Telegraph Code Book. . . . . . . . . . PERMANENT                                    

Travelers' Checks Sold Record. . . . . . .2                                           Travelers' Letter

of Credit Guarantees . . . . . . . . . . .7                                          

 

13. INVESTMENT

 

Brokers Confirmation

and Invoices/Statements. . . . . . . . . .7                                           Correspondence . . . . . . . . . . . . . .7                                           Dealer Account Ledgers . . . . . . . . PERMANENT                                   

Portfolio Ledgers. . . . . . . . . . . PERMANENT

Safekeeping Records and Receipts . . . . .7                                           Security Investment Ledgers. . . . . . PERMANENT                                    

 

14. LOANS ‑ Consumer/Commercial

 

Accrual Records. . . . . . . . . . . . . .3

Application

Granted. . . . . . . . . . . . . . . . . . . . . . . 7

Declinations. . . . . . . . . . 2 years and 1 month

     Commercial Loans > $1 Million. . . .1

Charged Off Accounts. . . . . . . .PERMANENT

Collateral Records. . . . . . . . . . . . . . . . . . . .7

Correspondence . . . . . . . . . . . . . . . . . . . . . 3                      

 

 

                                                                             APPENDIX I                                                                               A‑5

 

                                                   NO. OF YEARS    NO.  OF YEARS

                                       NO. OF         AFTER       AFTER TERMINATION

RECORD SERIES                          YEARS       CLOSING ACCT    OF TRANSACTION  

 

14. LOANS ‑ Consumer/Commercial (continued)

 

Credit Files . . . . . . . . . . . . . . . . . . . . . . 7                      

Dealer Reserve Account/Records . . . . . .7                                           Disclosures/Consumer . . . . . 2 YEARS, 1 MONTH (or since last FDIC Compliance Audit)

Financial Statements . . . . . . . . . . .7                                           Floor Plan Inventory Records . . . . . . .1                                           New Account Setup Worksheets/

Maintenance Worksheets/

Data Entry Reports . . . . . . . . . . . .1                                           Paid Loan Record . . . . . . . . . . . . .7                                           Payment Coupons. . . . . . . . . . . . . .7                                           Reconcilement to General Ledger. . . . . .2                                           Regulation A (Extension of Credit) . . . .5                                           Regulation U (Purpose

Statement of Borrower) . . . . . . . . . . . . . . . . . 3                           

Regulation Z

(Truth‑in‑Lending Compliance). . . . . . . . . . . . . . 2                          

Reposessed Accounts. . . . . . . . . . . .7                                           Resolutions. . . . . . . . . . . . . . . . . . . . . . . 7                           

Student Loans. . . . . . . . . . . . . . . . . . . . . . 5                          

Transaction Journal. . . . . . . . . . . 7                                          

Trial Balances . . . . . . . . . . . . . 3                                           

Truth‑in‑Lending Extension Agreement . . . . . . . . . . 1                          

 

15. LOANS ‑ MORTGAGE/HOME EQUITY

 

Accrual Records. . . . . . . . . . . . . .3

Application. . . . . . . . . . . . . . . . . . . . . . . 7

  Declinations. . . . . . . . . . . . 2 YEARS, 1 MONTH

CRA ‑ Community Reinvestment Act . . . . .2

Disclosures. . . . . . . . . . . . . . . . . . . . . . . 7                          

ECOA ‑ Equal Credit Opportunity Act . 2 YEARS, 1 MONTH                               

EFT. . . . . . . . . . . . . . . . . . . .2                            

Fair Credit. . . . . . . . . . . . . . . .2                                           Fair Debt. . . . . . . . . . . . . . . . .2                                           Federal Housing Act. . . . . . . . . .2 YEARS, 1 MONTH                              

Financial Statements . . . . . . . . . . .2                                           Flood Act . . . . . . . . . . . . . . TERM  OF  LOAN                                

Foreclosure Documentation. . . . . . . . . . . . . . . . . . . . . . . . . . 7      

HMDA ‑ Home Mortgage Disclosure Act. . . .5                                           New Account Setup/

Maintenance Worksheets/

Data Entry Report. . . . . . . . . . . . .7                                           Paid Loan Record . . . . . . . . . . . . .7                                           Payment Coupons. . . . . . . . . . . . . .7                                           Reconcilement to General Ledger. . . . . .3                                           Record of Deeds . . . . . . . . . . . . .30                                   

Regulation U

(Purpose Statement of Borrower). . . . . . . . . . . . . 3                          

Regulation Z

(Truth‑in‑Lending Compliance). . . . . . .2                                           Resolutions. . . . . . . . . . . . . . . . . . . . . . . 7                          

 

         

                                                                      APPENDIX I

                                                                       A‑6

 

                REGULATION  B‑92‑1

                 BANK RECORD RETENTION SCHEDULE

 

                                                   NO. OF YEARS    NO.  OF YEARS

                                       NO. OF         AFTER       AFTER TERMINATION

RECORD SERIES                          YEARS       CLOSING ACCT    OF TRANSACTION  

 

15. LOANS ‑ MORTGAGE/HOME EQUITY (continued)

 

RESPA Good Faith Estimate . . . . . . TERM  OF  LOAN                                 

Settlement Sheet . . . . . . . . . . . . . . . . . . . . 2                          

Right of Rescission. . . . . . . . . . . . . . . . . . . 7                          

Transaction Journal. . . . . . . . . . . .7               

Trial Balance. . . . . . . . . . . . . . . . . . . . . . 1

Truth‑in=Lending Extension Agreement . . . . . . . . . . 1

 

16. MAIL/WIRE/MONEY TRANSFER

 

All Other Mail Records . . . . . . . . . .5                                           Customers' Receipts

   re Money Transfers. . . . . . . . . . .7                                           Federal Reserve

   Transfer of Funds Forms . . . . . . . .7                                           Record of Incoming Registered Mail . . . .5                                           Registered Mail Receipts . . . . . . . . .7                                           Telegrams. . . . . . . . . . . . . . . . .7                                           Wire Transfers (FEDWIRE+) Records. . . . .5                                           

17. MISCELLANEOUS

 

Authorization Files:

     Attachments ‑ Closed Cases. . . . . .7                                         

     Escrow Agreements . . . . . . . . . .7                                         

     Joint Agreements. . . . . . . . . . .7                                         

     Powers of Attorney

       (closed accounts) . . . . . . . . .7                                         

     Resolutions (closed accounts) . . PERMANENT                                    

     Surety and Indemnity Bonds. . . . . .7                                         

Cash Items (Petty Cash). . . . . . . . . .3                                         

Correspondence . . . . . . . . . . . . . .7                                         

Municipal Securities Dealer

     Forms/Underwriting Documents. . . . .3 (After Termination)

NEACH Paper Advices. . . . . . . . . . . .7                                         

Notice of Tax Levy . . . . . . . . . . . .7                                          

Safekeeping Records and Receipts . . . . . . . . . . . . . . . . . . . . . . 7      

U.S. Series E/EE Bond Issued/

     Redeemed Report to Fed. . . . . . . .1                                         

Form W8. . . . . . . . . . . . . . . . . .4

Form W9. . . . . . . . . . . . . . . . . . . . . . . . . 7

B Notice . . . . . . . . . . . . . . . . . . . . . . . . 7

Year End Tape. . . . . . . . . . . . . . .4

IRS Customer Notices . . . . . . . . . . .7

 

                                                                      APPENDIX I

                                                                       A‑7

             REGULATION  B‑92‑1

                 BANK RECORD RETENTION SCHEDULE

 

                                                   NO. OF YEARS    NO.  OF YEARS

                                       NO. OF         AFTER       AFTER TERMINATION

RECORD SERIES                          YEARS       CLOSING ACCT    OF TRANSACTION  

 

18. PERSONNEL

 

Individual Files‑After Termination

   (Application, Salary Record,

   Performance Evaluation, Payroll

   Deduction Authorizations, etc.) . . . .7                                         

Payroll Changes Authorization. . . . . . .7                                         

Payroll Checks or Receipts . . . . . . . .7                                          

Employment Applications. . . . . . . . . .1                                         

Time Sheets. . . . . . . . . . . . . . . .3                                         

Tax Reports. . . . . . . . . . . . . . . .7                                          

W‑2 Withholding Tax Forms. . . . . . . . .7                                         

 

19. PROOF AND TRANSIT

 

Cash Letters . . . . . . . . . . . . . . .1                                         

Copies of Advices to Depositors

    re Errors on Deposit Slips . . . . . .3                                           Deposit Breakdown According

    to Ledger Controls . . . . . . . . . .3                                         

Microfilm. . . . . . . . . . . . . . . . .7                                          

Proof Department Recapitulations . . . . .3                                         

Proof Records Needed to Reconstruct

    a Demand Deposit Account . . . . . . .2                                         

Tape Listings of Checks

    Received in Deposits . . . . . . . . .3                                         

 

20. PURCHASING

 

Copies of Purchase Orders. . . . . . . . .7                                         

Deferred Expense Records . . . . . . . . .7                                          

Expense Vouchers & Attached Bills . .  . 15                                         

Railway Express Receipts . . . . . . . . 15                                         

 

21. REPORTS AND RETURNS

 

Audit or Directors

     Examination Reports . . . . . . . . .7                                         

Bank Examination Reports . . . . . . PERMANENT                                      

Call Reports ‑ State and Federal . . PERMANENT                                      

Cost Reports . . . . . . . . . . . . PERMANENT                                      

Departmental Expense Reports . . . . . . .7                                         

Depreciation Records . . . . . . . . PERMANENT                                      

Earnings and Dividend Reports

     or Income and Dividend Reports. PERMANENT                                      

Escheat Reports. . . . . . . . . . . PERMANENT                                      

Expense Ledger . . . . . . . . . . . PERMANENT                                       

FDIC Reports . . . . . . . . . . . . PERMANENT                                      

Tax Returns. . . . . . . . . . . . . PERMANENT                                      

Federal Reserve ‑

     Weekly Report of Condition. . . . . .2                                         

Other Tax Returns. . . . . . . . . . PERMANENT                                   

 

                                                                      APPENDIX I

                                                                       A‑8

                REGULATION  B‑92‑1

                 BANK RECORD RETENTION SCHEDULE

 

                                                   NO. OF YEARS    NO.  OF YEARS

                                       NO. OF         AFTER       AFTER TERMINATION

RECORD SERIES                          YEARS       CLOSING ACCT    OF TRANSACTION  

 

22. SAFE DEPOSIT

 

Access Tickets . . . . . . . . . . . . . .7                                         

Closed Contracts . . . . . . . . . . . . . . . . . . . . 7                          

Contents after Removal . . . . . . . . . .7                                         

Leases or Contracts. . . . . . . . . . . .7                                         

Power of Attorney. . . . . . . . . . . . . . . . . . . . 7                          

Rent Receipts. . . . . . . . . . . . . . .7                                         

Signature Cards. . . . . . . . . . . . . . . . . . . . . 7                          

Vault Opening and Closing Record . . . . .1                                         

 

23. SAFEKEEPING

 

Closed Accounts . . . . . . . . . . . . .10                                         

Delivery Receipts . . . . . . . . . . . .10                                         

Safekeeping Records and Receipts. . . . . 7                                          

24. SAVINGS AND TIME DEPOSITS

 

Accrual Records . . . . . . . . . . . . . 3                                         

Cash Settlement Sheets. . . . . . . . . . 3                                          

Certificates of Deposit‑‑Canceled. . . . . . . . . . . . 7                         

Christmas & Vacation Club Checks Paid. . .7                                         

Christmas & Vacation Club

            Deposit Tickets. . . . . . . .7                            

Christmas & Vacation Club

            Signature Cards. . . . . . . . . . . . . . . 7                       

Deposit and Withdrawal Tickets . . . . . .7                                         

Lost Passbook Bond/Notice. . . . . . . . .1                                         

Microfilm. . . . . . . . . . . . . . . . .5                                         

New Account Setup/Maintenance

   Worksheets/Data Entry Reports . . . . .1                                         

Opened and Closed Account Reports. . . . .1                                         

Reconcilement to General Ledger. . . . . .1                                         

Resolutions. . . . . . . . . . . . . . . . . . . . . . . 7                          

Signature Cards and/or

    Power of Attorney Agreement. . . . . . . . . . . . . 7                         

Time Account Contracts . . . . . . . . . . . . . . . . . 7                         

Transaction Journal. . . . . . . . . . . .7                                          

Trial Balance. . . . . . . . . . . . . . .7                                         

 

25. TELLERS

 

Cash ‑ Teller's Proof. . . . . . . . 6 Months                                       

Cash ‑ Total Bank Reconcilement. . . . . .1                                          

Cashed Items‑‑Films. . . . . . . . . . . .2                                         

Currency Transaction Report. . . . . . . .7                                         

Currency Vault Record. . . . . . . . . . .1                                         

Money Shipment Receipts. . . . . . . . . .2                                         

Night Depository Agreements. . . . . . . . . . . . . . . 7                       

 

                                                                      APPENDIX I

                                                                       A‑9

                REGULATION  B‑92‑1

                 BANK RECORD RETENTION SCHEDULE

 

                                                   NO. OF YEARS    NO.  OF YEARS

                                       NO. OF         AFTER       AFTER TERMINATION

RECORD SERIES                          YEARS       CLOSING ACCT    OF TRANSACTION  

 

25. TELLERS (continued)

 

Night Depository Bags ‑

    Customer's Receipts. . . . . . . . . .7                                      

Night Depository Bag

  Received, Daily Record of. . . . . . . .7                                         

Teller Machine Tapes . . . . . . . . . 3 Months                                  

Teller's Recapitulation

  (as part of General Ledger). . . . . . .7                                         

Teller's Vault Visitation. . . . . . 6 Months                                       

Treasury Tax and Loan Receipts . . . . . .7                                          

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

REGB92‑3.doc

 

 

 

 

 

 

 

 

 

 

 

REGULATION B‑92‑1

 

  APPENDIX II

 

     TRUST RECORD RETENTION SCHEDULE

 

 

 

 

                   RECORD SERIES                                PAGE

 

 

            1.  Trust ‑ Corporate                               A‑10

 

        2.  Trust ‑ Personal                                A‑11

 

        3.  Trust ‑ Employee Benefit Plan                   A‑13

 

            4.  Trust ‑ General                                 A‑14

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

                                                                     APPENDIX  II

                                                                      A‑10

 

REGULATION B‑92‑1

     TRUST RECORD RETENTION SCHEDULE

 

Institutions shall retain trust records for the period of time specified in the trust agreement or the following schedule, whichever period is longer:

 

                                                     NO. OF YEARS         NO. OF YEARS  

                                      NO. OF            AFTER            AFTER MATURITY 

RECORD SERIES                         YEARS         CLOSING ACCT         OF BOND ISSUE  

 

1.  TRUST ‑ CORPORATE

 

Bonds and/or Coupons

   ‑ Cancelled . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7      

   ‑ Destruction Certificates. . . . . . . . . . . . . . . . . . . . . . PERMANANT   

Construction Requisitions. . . . . . . . . . . . . . . . . . . . . . . . PERMANENT

Contracts/Resolution/

Appointment as Agent

(Including Bank's Own Issues). . . .PERMANENT                                       

Conversion Agent Records . . . . . . . 21                                          

Corporate Indenture Trustee Records & Legal Document Files

     ‑ Trust Indenture. . . . . . . .PERMANENT

     ‑ Fiduciary Records . . . . . . .  3 After Litigation or Termination  

     ‑ Fee Documentation . . . . . . .  3 After Termination    

     ‑ Fiduciary Bond. . . . . . . . .  3                                         

     ‑ Fiduciary Litigation. . . . . .  3 Years after Termination of Litigation

Corporate Property Records . . . . . .  5 After Satisfaction Obligation   

     ‑ (Releases and Receipts) . . .PERMANENT                                      

     ‑ Trust Receipts for

       Exchange or Substitution

       of Collateral . . . . . . . .PERMANENT                                      

Corporate Trust Ledger . . . . . . . . 21                                          

Dividend and Interest Checks . . . . .  7                                          

Escrow Accounts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7         

Fingerprint Cards. . . . . . . . . . .  3 After Termination Employment   

IRS 1099 Listings. . . . . . . . . . .  7                                          

Misc. Correspondence                                               

Memoranda/Documents. . . . . . . . . . . . . . . . . . . . 3                       

Outstanding Dividend Register. . . . .  7                                          

Overdraft Lists. . . . . . . . . . . .  6 Months                                        

Record Date Security Holder List . . PERMANANT                                     

Securities Documentation

     ‑ Records Relative to Lost

   or Stolen Securities. . . . . . . . . . . . . . . . . . . . . . . . . . . . 7    

Securities Transactions

   ‑ daily buy/sell record . . . . . .  3                                          

   ‑ customer acct. record . . . . . .  3                                          

   ‑ buy/sell orders . . . . . . . . .  3                                           

   ‑ broker/dealer transaction

     record with amount of

     commission paid . . . . . . . . .  3                                          

   ‑ broker/dealer confirmation. . . .  3                                           

   ‑ broker/dealer statement . . . . .  3                                          

Signature Authorization Files. . . .PERMANENT                                      

 

                                                                      APPENDIX  II

                                                                      A‑11

 

REGULATION B‑92‑1

     TRUST RECORD RETENTION SCHEDULE

 

                                                     NO. OF YEARS         NO. OF YEARS  

                                      NO. OF            AFTER            AFTER MATURITY 

RECORD SERIES                         YEARS         CLOSING ACCT         OF BOND ISSUE  

 

TRUST ‑ CORPORATE (Continued)

 

Stock Certificates

   ‑ Cancelled . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7    

   ‑ Destruction Certificates. . . . . . . . . . . . . . . . . . . . . . .Permanent

Stockholder Records

Stop Payment Orders/Indemnity Bond. .PERMANENT                                      

Subscription/Tender/Warrant

Records. . . . . . . . . . . . . . . . 3 After Expiration                              

 

2.  TRUST ‑ PERSONAL

 

Abandoned Property

  ‑ Notice Letters. . . . . . . . . . . 7                                          

  ‑ Delivery Receipts . . . . . . . PERMANENT                                      

Administration Expenses . . . . . . . . . . . . . . 7

Agreements

   ‑ Agency/Custody/Escrow . . . . . . . . . . . . . . . . 7                       

Appraisal of Real and

     Personal Property. . . . . . . . . . . . . . . . . . .7

Authorization & Approvals of

Donors/Confiduciaries and

Consultants. . . . . . . . . . . . . . . . . . . . . . . . 3                       

Bank Account Reconcilements. . . . . .  3                                          

Check Register . . . . . . . . . . . .  7                                          

Checks, Cancelled. . . . . . . . . . .  7                                          

Common Trust Fund

 Valuation Records. . . . . . . . .PERMANENT                                        

Customer Disclosure Authorizations . . . . . . . . . . . . 3                       

Daily Posting to Trust                                                             

 Accounts/Blotter. . . . . . . . . . .  3                                           

 Discretionary Principal Distributions . . . . . . . . . . 7

Fiduciary Records. . . . . . . . . . .  3  After Termination of Litigation    

  ‑ Fee Documentation. . . . . . . . .  3                                          

  ‑ Fiduciary Bond . . . . . . . . . .  7                                          

  ‑ Fiduciary Litigation . . . .DURING LITIGATION                                  

  ‑ Fiduciary Income Tax Returns and Supporting

     Documentation. . . . . . . . . . . 7                                          

  ‑ Fiduciary Receipts and Releases. .PERMANENT                                    

Inventory (Schedule A) . . . . . .PERMANENT                                        

IRS 1099 Listings. . . . . . . . . . . 7                                            

Legal Opinons and

Related Correspondence. . . . . . . . . . . . . . . . . . .7                       

Misc. Correspondence

Memoranda/Documents. . . . . . . . . . 3                                           

Overdraft Lists. . . . . . . . . . . . 6 Months                                        

Personal Income Tax Returns

& Supporting Documentation . . . . . . 7                                           

 

                                                                      APPENDIX  II

                                                                      A‑12

 

REGULATION B‑92‑1

     TRUST RECORD RETENTION SCHEDULE

 

                                                     NO. OF YEARS         NO. OF YEARS  

                                      NO. OF            AFTER            AFTER MATURITY 

RECORD SERIES                         YEARS         CLOSING ACCT         OF BOND ISSUE  

 

TRUST ‑ PERSONAL (continued)

 

Probate Records

  ‑ Letters of Appointment . . . . . . 3  After Closing Estate            

  ‑ Inventory/Amended Inv. . . . . . . 3  After Closing Estate               

  ‑ Administrative Expenses. . . . . . . . . . . . . . . . .7                      

  ‑ Decree . . . . . . . . . . . . . . 3  After Closing Estate            

  ‑ Accounting

   ‑‑ Annual . . . . . . . . . . . . . 3                                           

   ‑‑ Final. . . . . . . . . . . . . . 7  After Closing Estate            

  ‑ Wills. . . . . . . . . . . . . . . 3  After Closing Estate               

  ‑ Claims Against Estate. . . . DURING LITIGATION                                 

Real Estate and Mortgage

Deeds and Related Documentation. . . . 5 (After Disposal)                        

Securities Documentation

     ‑ Records Relative to Lost

   or Stolen Securities. . . . . . 3                                           

Securities Transactions

   ‑ Daily Buy/Sell Record . . . . . . 3                                           

   ‑ Customer Acct. Record . . . . . . 3                                            

   ‑ Buy/Sell Orders . . . . . . . . . 3

   ‑ Broker/Dealer Transaction

     Record with Amount of

     Commission Paid . . . . . . . . . 3                                           

   ‑ Corporate Action. . . . . . . . . 3                                            

   ‑ Broker/Dealer Confirmations . . . 3                                           

   ‑ Broker/dealer statements. . . . . 3                                           

Tax Returns and

Supporting Documentation

   ‑ Fed. Estate Tax . . . . .  PERMANENT/3 YRS *                                   

   ‑ Fed. Gift Tax . . . . . .  PERMANENT/3 YRS *                                   

   ‑ Fed. Nominees' Info . . .  PERMANENT/7 YRS *                                   

   ‑ Fiduciary Income Tax. . . . . . . 7 **                                        

   ‑ Decedent's Final Income Tax . . . 3                                           

Temporary Safekeeping

Records and Receipts . . . . . . . . . 7                                            

Trial Balance. . . . . . . . . . . . . 3                                           

Trust Account Payroll

Records/Regulatory Filings . . . . . . 7                                           

Trust Checks . . . . . . . . . . . . . 7                                            

Trust Document . . . . . . . . . . PERMANENT                                       

Trust Statements . . . . . . . . . PERMANENT                                       

*  Regulations of the Internal Revenue Service require taxpayers to retain any records and documentation with respect to income tax matters for an indefinite period of time.

 

** With the exception of accounts with loss carry‑back/forward or closing of the account/estate.

 

                                                                      APPENDIX  II

                                                                      A‑13

 

REGULATION B‑92‑1

     TRUST RECORD RETENTION SCHEDULE

 

                                                     NO. OF YEARS         NO. OF YEARS  

                                      NO. OF            AFTER            AFTER MATURITY 

RECORD SERIES                         YEARS         CLOSING ACCT         OF BOND ISSUE  

 

3.  TRUST ‑ EMPLOYEE BENEFIT PLAN

 

Abandoned Property

   ‑ Notice Letters . . . . . . . . . . 7                                          

   ‑ Delivery Receipts. . . . . . . PERMANENT                                      

Accountings . . . . . . . . . . . . . . . . . . . . . . . 7                        

Acturial Reports. . . . . . . . . . . . . . . . . . . . . 7                     

Administration Expenses

   ‑ Discretionary. . . . . . . . . . . 7                                          

   ‑ Non‑Discretionary. . . . . . . . . 1                                          

Agreements

   ‑ Agency/Custody . . . . . . . . . . . . . . . . . . . 7                            

Appraisal of Real and

 Personal Property. . . . . . . . . . . . . . . . . . . . 7                       

Audits

  ‑ Department of Labor . . . . . . . . . . . . . . . . . 3                            

  ‑ Trust . . . . . . . . . . . . . . . . . . . . . . . . 3                            

Authorization & Approvals of

Plan Administrators/

Cofiduciaries and Consultants . . . . . . . . . . . . . . 3                             

Bank Account Reconcilements. . . . . . . 3                                         

Check Register . . . . . . . . . . . . . 7                                         

Checks, Cancelled. . . . . . . . . . . . 7                                          

Common Trust Fund Valuation

 Records . . . . . . . . . . . . . . PERMANENT                                     

Customer Disclosure

Authorizations . . . . . . . . . . . PERMANENT              

Daily Posting to Trust

Accounts/Blotter . . . . . . . . . . . . 3                                         

Employee Records . . . . . . . . . . PERMANENT                                     

Fiduciary Records. . . . . . . . . . .  3  After Litigation or Termination              

  ‑ Fee Documentation. . . . . . . . .  3                                           

  ‑ Fiduciary Bond . . . . . . . . . .  7                                           

  ‑ Fiduciary Litigation . . . . . . .  3  After Termination of Litigation         

  ‑ Fiduciary Receipts . . . . . .PERMANENT                                       

     and Releases

IRS 1099‑R/W2‑P Listings . . . . . . .  7                                           

IRS Determination Letter . . . . .PERMANENT                                        

IRS/DOL Filings

   ‑ 5300 Series . . . . . . . . .PERMANENT                                        

   ‑ 5500 Series . . . . . . . . . . . . . . . . . . . . . 7                           

   ‑ PBGC. . . . . . . . . . . . . . . . . . . . . . . . . 7                            

   ‑ 5498. . . . . . . . . . . . . . .  7                                           

Legal Opinions and Related

Correspondence . . . . . . . . . . . . . . . . . . . . . . 7                           

Misc. Correspondence

Memoranda/Documents. . . . . . . . . .  3                                           

Overdraft Lists. . . . . . . . . . . .  6 Months                                        

Plan Document. . . . . . . . . . .PERMANENT                                        

 

                                                                      APPENDIX  II

                                                                      A‑14

 

REGULATION B‑92‑1

     TRUST RECORD RETENTION SCHEDULE

 

                                                     NO. OF YEARS         NO. OF YEARS  

                                      NO. OF            AFTER            AFTER MATURITY 

RECORD SERIES                         YEARS         CLOSING ACCT         OF BOND ISSUE  

 

TRUST ‑ EMPLOYEE BENEFIT PLAN (Continued)

 

Real Estate & Mortgage Deeds

& Related Documents. . . . . . . . . .  5  After Disposal                 

Securities Documentation

  ‑ Records Relative to Lost

    or Stolen Securities . . . . . . .  3                                           

Securities Transactions

  ‑ Daily Buy/Sell Record . . . . . . . 3                                           

  ‑ Customer Acct. Record . . . . . . . 3                                           

  ‑ Buy/Sell Orders . . . . . . . . . . 3                                            

  ‑ Broker/Dealer Transaction . . . . . 3                                           

    Record with Amount of

    Commission Paid

  ‑ Corporate Action. . . . . . . . . . 3                                           

  ‑ Broker/Dealer Confirmations . . . . 3                                           

  ‑ Broker/Dealer Statements. . . . . . 3                                           

Signature Authorization Files  . . .PERMANENT                                      

Tax Reports. . . . . . . . . . . . . .  6                                           

Temporary Safekeeping

Records and Receipts  . . . . . . . . . 7                                           

  ‑ Trial Balance . . . . . . . . . . . 3                                            

  ‑ Trust Account Payroll

    Records/Regulatory Filings. . . . . 7                                           

Trust Checks. . . . . . . . . . . . . . 7                                           

Trust Document. . . . . . . . . . . PERMANENT                                       

Trust Statements. . . . . . . . . . PERMANENT                                      

 

4.  TRUST ‑ GENERAL

 

Audit Reports . . . . . . . . . . . . . 7                                           

Minutes of Trust Committee. . . . . PERMANENT                                      

Minutes of Investment Committee . . PERMANENT                                      

Reconciliations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7    

Regulatory Financial Statements . . . 18 Months or until next audit                

Trade Journal . . . . . . . . . . . . . 7                                           

 

 

 

 

 

 

 

 

 

 

 

REGB92‑4.doc

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