04 NCAC 03C .0903         RETENTION: REPRODUCTION AND DISPOSITION OF BANK RECORDS

(a)  Each bank, at a location with secured access, shall keep and retain books, ledgers, records, and documents set forth for the periods specified.

Bank Records                                                                                                                   Minimum

to be Retained                                                                                                             Retention Period

 

ACCOUNTING

 

1.             Daily Reserve Calculation and Averages                                                                        3 years

2.             Difference Records (Over/Short)                                                                                      2 years

3.             Paid Bills and Invoices                                                                                                      3 years

4.             Quarterly Report of Condition and Income and Supporting Work Papers               5 years

 

ADMINISTRATIVE

 

1.             Documentation of Charged-off Assets                                                                            10 years

2.             Escheat Reports and Records                                                                                            10 years

3.             Minutes of Meetings of Stockholders, Directors, and

Board Committees                                                                                                                         Permanent

 

AUDIT

 

1.             Audit Reports (Internal and External)                                                                             3 years

2.             Audit Work Papers (Internal)                                                                                            3 years

 

BANK PROPERTIES

 

1.             Fixed Assets-Evidence of Ownership (After Acquisition)                                           5 years

2.             Fixed Assets-Leases (After Termination)                                                                       5 years

3.             Real Estate-Construction Records                                                                                   5 years

4.             Real Estate-Deeds                                                                                                 Until conveyed

5.             Real Estate-Leases (After Termination)                                                                         5 years

 

CAPITAL

1.             Capital Stock Certificate Books, Stubs, or Interleaves                                          Permanent

2.             Capital Stock Ledger                                                                                                    Permanent

3.             Capital Stock Transfer Register                                                                                  Permanent

4.             Proxies                                                                                                                                   3 years

 

COLLECTIONS

 

1.             Collection Registers (Incoming and Outgoing)              3 years after item paid or returned

2.             Receipts and Advices (After Closed)                                                                               1 year

 

CREDIT CARDS

 

1.             Borrowing Authority Resolutions (After Closed)                                                         3 years

2.             Customer Application (After Closed)                                                                              1 year

3.             Disclosure and Compliance Documents                                                                   25 months

4.             Merchants' Agreement (After Closed)                                                                             2 years

5.             Posting or Transaction Journal                                                                                         2 years

6.             Sales Tickets or Drafts                                                                                                       3 years

7.             Statement of Account                                                                                                         5 years

 

DEMAND DEPOSIT AND TRANSACTION ACCOUNTS

 

1.             Checks and Debits                                                                                                               5 years

2.             Daily Report on Overdrafts                                                                                               2 years

3.             Deposit Resolutions (After Closed)                                                                                3 years

4.             Deposit Tickets and Credits                                                                                              5 years

5.             Ledgers, Statements, or Stubs                                                                                           5 years

6.             Letters of Administration                                                                                                   5 years

7.             Posting or Transaction Journals                                                                                       5 years

8.             Powers of Attorney                                                                                     5 years after closing

9.             Return Item Records                                                                                                           1 year

10.          Signature Cards (After Closed)                                                                                         5 years

11.          Stop Payment Orders                                                                                                          1 year

12.          Undelivered Statements                                                                                                     1 year

13.          Unidentified or Unclaimed Deposit Records                                                 Until escheated

 

DUE FROM BANKS

 

1.             Advice of Entry (After Cleared)                                                                                  3 months

2.             Drafts (After Paid)                                                                                                              5 years

3.             Draft Register                                                                                                                 Until paid

4.             Reconcilements                                                                                                                   5 years

5.             Statements                                                                                                                            3 years

 

GENERAL LEDGER

 

1.             Daily Statement of Condition                                                                                           5 years

2.             General Journal (If Book of Original Entries, with Descriptions)                              15 years

3.             General Ledgers                                                                                                                   15 years

4.             General Ledger Tickets                                                                                                      5 years

 

INSURANCE

 

1.             Bankers Blanket Bond and Excess                                                                                   5 years

2.             General Casualty Liability Policies Expired                                                                  5 years

 

INTERNATIONAL

 

1.             Bankers Acceptances                                                                                                         3 years

2.             Collection Records                                                              3 years after item paid or returned

3.             Letters of Credit and Documents                                                       3 years after expiration

4.             Transfer Orders (Wire or Written)                                                                                    1 year

 

INVESTMENTS

 

1.             Accrual and Bond Amortization or Accretion Records (After Period Ends)           3 years

2.             Brokers' Confirmations, Invoices, Statements                                                              3 years

3.             Ledgers                                                                                                                                  3 years

4.             Records of Purchases and Sales of Securities                                                                 5 years

 

LEASE RECEIVABLES (OTHER THAN REAL ESTATE)

 

1.             Lease Agreements and Documents (After Termination)                                             5 years

2.             Rental Payment Records                                                                                                    5 years

3.             Record of Disposition of Property                                                                                   5 years

 

LEGAL JUDICIAL AUTHORIZATION

 

1.             Attachments or Garnishments                                                                                           10 years

2.             Court Case Records (After Final Disposition)                                                                10 years

3.             Probate Court Appointment (After Closed)                                                                    10 years

 

LOANS (COMMERCIAL, CONSUMER, MORTGAGE)

 

1.             Appraisals, Financing Statements, and                                                                       Until paid

Title Opinions Pertaining to Collateral

2.             Borrowing Resolutions                                                                 3 years after payment of debt

3.             Credit Files (Financial Statements, Applications, Correspondence)

(After Paid)                                                                                                           2 years

4.             Collateral Records (After Released)                                                                               5 years

5.             Interest Rebate Records                                                                                                       1 year

6.             Liability Cards or Ledgers (After Closed)                                                                      3 years

7.             Loan Ledger Cards or History Sheets (After Paid)                                                       3 years

8.             Loan Proceeds Disbursement Records                                                                       Until paid

9.             Loans Paid Record                                                                                                              3 years

10.          Mortgage Files and Supporting Documents (After Paid)                                             2 years

11.          Note or Loan Register (After Paid)                                                                                  3 years

12.          Posting or Transaction Journal                                                                                         2 years

 

MAIL

 

1.             Insurance Records of Registered and Certified                                                              1 year

2.             Registered and Certified Records (In and Out)                                                              1 year

3.             Return Receipt Record                                                                                                       1 year

 

MISCELLANEOUS

 

1.             Cash and Security Vault Records-Opening, Closing                                                 6 months

2.             Taxes-Returns and Supporting Papers                                             3 years or until cleared by

IRS and Dept. of Revenue

3.             Travelers Checks-Applications                                                                                         1 year

 

MONEY TRANSFER

 

1.             Copy of Incoming and Outgoing Transfers                                                                    1 year

2.             General Correspondence                                                                                                   1 year

3.             Receipts and Advices (After Closed)                                                                               1 year

4.             Transfer Request Records                                                                                                  1 year

 

NIGHT DEPOSITORY

 

1.             Customer Agreement (After Closed)                                                                               1 year

2.             Customer Receipt                                                                                                                              1 year

3.             Daily Inventory                                                                                                                   1 year

 

OFFICIAL CHECKS

 

1.             Official Checks (Dividend, Cashiers, Expense, Loan) and Money Orders

(After Paid)                                                                                                           5 years

2.             Official Check Register or Carbon Copy                                           Until paid or escheated

3.             Certified Checks or Receipts (After Paid)                                                                      5 years

4.             Certified Check Register or File Copy                                                Until paid or escheated

5.             Affidavits and Indemnity pertaining to Issuance of Duplicate Checks               Permanent

 

PROOF AND TRANSIT

 

1.             Advice of Correction                                                                                                      6 months

2.             Cash Tickets                                                                                                                     6 months

3.             Outgoing Cash Letters and Accompanying Items (Microfilm)                                   2 years

4.             Proof Sheets, Tapes, and Listings                                                                                     2 years

 

SAFE DEPOSIT

 

1.             Access Records (After Closed)                                                                                         3 years

2.             Box History Card                                                                                                          Permanent

3.             Contracts and Agreements (After Closed)                                                                      3 years

4.             Forced Entry Records                                                                                                         10 years

 

SAFEKEEPING AND CUSTOMER SECURITIES

 

1.             Broker Confirmations, Invoices, Statements                                                                 3 years

2.             Buy and Sell Orders                                                                                                            3 years

3.             Customer Contracts and Agreements (After Closed)                                                    3 years

4.             In and Out Records (Movement of Securities)                                                               3 years

5.             Safekeeping Receipts (After Closed)                                                                               3 years

 

SAVINGS AND TIME DEPOSITS

 

1.             Certificates of Deposit Paid                                                                                               5 years

2.             Certificates of Deposit Records (Register, Ledger, Copy)          Until paid or escheated

3.             Daily Report of Overdrafts                                                                                                2 years

4.             Debits and Withdrawals                                                                                                     5 years

5.             Deposit and Credit Tickets                                                                                              5 years

6.             Deposit Resolution (After Closed)                                                                                   3 years

7.             Ledgers or Statements                                                                                                       5 years

8.             Posting or Transaction Journal                                                                                         1 year

9.             Signature Cards, Contracts, and Agreements (After Closed)                                      5 years

10.          Undelivered Statements                                                                                                     1 year

11.          Unidentified or Unclaimed Deposit Records                                                 Until escheated

 

TELLERS

 

1.             Balance Sheets, Recaps, or Records                                                                               1 year

2.             Cash Item Report                                                                                                                1 year

3.             Machine Tapes, Cash Ticket Copies, Posting or Transaction Journals     6 months

4.             Daily Record of Cash Items Held Over                                                                           1 year

 

TRUST (Corporate)

 

1.             Account Ledger or Record                                7 years after account closed

2.             Posting or Transaction Journal                                                                                         7 years

3.             Bonds of Indemnity                                                                                                     Permanent

4.             Stock Certificates (Cancelled)                                                    until returned to corporation

5.             Dividend Checks – Paid                                                                                                     5 years

6.             Dividend Check Register or Carbon Copy                                                               Until paid

7.             Bonds and Coupons –                                                                                                7 years after

Cancelled or Cremation Certificates                                             paid or until returned to corporation

8.             Resolutions and Authorizations                                                    7 years after account closed

 

TRUST (Employee Benefit)

 

1.             Accountings                                                                                    6 years after account closed

2.             Agreements, Authorizations, and Resolutions                         6 years after account closed

3.             Account Ledger or Record                                                         6 years after account closed

4.             Disbursement Checks                                                                                                         6 years

5.             Check Register or Carbon Copy                                                                                Until Paid

6.             Bonds of Indemnity                                                                                                      Permanent

 

TRUST (Personal)

 

1.             Accountings                                                                                     3 years after account closed

2.             Agreements and Authorizations                                                  5 years after account closed

3.             Account Ledger or Record                                                          7 years after account closed

4.             Minutes of Committee Meetings                                                                                Permanent

5.             Receipts for Assets Delivered                                                       3 years after account closed

6.             Tax Return                                                                                        10 years or until IRS clears

7.             Disbursement Checks                                                                                                         5 years

8.             Check Register or Carbon Copy                                                                                Until paid

9.             Bonds of Indemnity                                                                                                     Permanent

 

(b)  Nothing in these Rules shall prohibit any bank or branch thereof from keeping and maintaining any and all of its records for a longer period of time than set forth by the minimum retention period.

(c)  Paragraph (a) of this Rule sets forth state minimum records retention requirements and does not include nor cover records required to be kept by federal agencies such as federal bank supervisory agencies, and other federal agencies. Banks shall also observe the requirements of such federal agencies in retention of records required by such agencies.

(d)  Nothing in these Rules shall prohibit any bank or branch from causing any or all of its records, whether permanent records or records designated to be retained for a minimum period of time, to be maintained pursuant to G.S. 53C-6-14.

 

History Note:        Authority G.S. 53C-2-5; 53C-6-14; 53C-8-1;

Eff. February 1, 1976;

Amended Eff. October 1, 2014; January 1, 2013; May 1, 1992; September 1, 1990; January 1, 1985;

Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. October 3, 2017.