04 NCAC 16E .0302          RETENTION, REPRODUCTION AND DISPOSITION OF RECORDS

(a)  Each savings institution shall take precautions to protect records from damage by fire, flood, or other hazards and to safeguard records from unnecessary deterioration as a result of excess heat, humidity, dryness, or lack of proper ventilation. Safeguards shall be maintained to protect records from access or removal by unauthorized persons.

(b)  Each savings institution or branch office shall retain all records set forth in this Paragraph for the periods specified.

 

RECORDS TO BE                                                                                                      MINIMUM RETENTION

RETAINED                                                                                                                     PERIOD (YRS.)

 

ACCOUNTING ‑ ASSOCIATION

Bank Statements and Reconcilements                                                                                                            5

Cancelled Checks                                                                                                                                               5

Check Vouchers or Stubs                                                                                                                                  5

Duplicate Deposit Slips                                                                                                                                     5

Expense and Paid Bills File                                                                                                                              3

FHLB and State Reports                                                                                                                                   5

General and Subsidiary Ledgers                                                                                                                    15

General and Other Journals                                                                                                                             15

Original Entry Records                                                                                                                                     5

Pre‑authorized Bank Forms                                                                                                                              5

Tellers' Cash Proof Sheets                                                                                                                                2

Trial Balances                                                                                                                                                     3

 

CORPORATE

Annual Reports to Supervisors                                                                                                                        5

Attachments, Executions, and Releases                                                                                                         3

Audit Reports                                                                                                                                                      3

Ballots and Proxy Votes of Members and Stockholders                                                                             3

Blanket Bonds                                                                                                                                                 T + 5

Certificate of Insurance                                                                                                                                     P

Charter, Bylaws, and Amendments                                                                                                                 P

Claims, Court Orders, and Restraining Orders                                                                                            10

Deeds, Leases, and Contracts; Titles to Vehicles                                                                                     T + 5

Examination Reports and Supervisory Letters                                                                                              5

FHLB Membership Certificate                                                                                                                        P

Minute Books (Members, Stockholder, Directors, and Committees)                                                       P

N.C. Corporate Tax Forms                                                                                                                              15

Pension Trust (IRS Ruling, Bylaws, and Trust Agreements)                                                                 T + 5

Personal Property Tax Records                                                                                                                      15

Social Security and Unemployment Tax Records                                                                                       15

U.S. Corporate Income Tax Forms                                                                                                                15

 

DEPOSIT ACCOUNTS

Affidavits for Lost Passbook or Certificate                                                                                                   P

Cancelled Savings Certificates                                                                                                                        5

Deposit                                                                                                                                                                 5

Deposit Account Assignment or Transfer Records                                                                                      P

Deposit Account Loan Disclosures After Note "Paid"                                                                                2

Deposit Account Loan Notes                                                                                                                           R

Inheritance Tax Releases                                                                                                                                 10

Lost Instrument Bonds for Passbooks or Certificates                                                                                  P

No‑Mail Notice                                                                                                                                               T + 4

Power of Attorney or Affidavits                                                                                                                      P

Returned 1099 Forms                                                                                                                                        6

Savings Certificates Record of Issue                                                                                                           T + 5

Signature Card Files                                                                                                                                       T + 5

Withdrawal Slips or Checks                                                                                                                             5

 

INSURANCE

Directors and Officers Liability                                                                                                                     10

Fire and Extended Coverage, Auto Errors and Omissions                                                                         3

Public Liability ‑ Workers Compensation                                                                                                    10

LOANS (Commercial, Consumer Credit, and Credit Cards)

Borrowers' Statement                                                                                                                                     T + 3

Charged‑off Loan Records                                                                                                                              10

Collateral Records                                                                                                                                            10

Customer Application                                                                                                                                    T + 1

Disclosure Document                                                                                                                                        2

Interest Rebate Record                                                                                                                                   T + 3

Liability Card or Ledger                                                                                                                                T + 3

Loan Ledger Cards                                                                                                                                         T + 3

Loans Made Record                                                                                                                                       T + 3

Loans Paid Record                                                                                                                                         T + 3

Loan Proceeds Disbursement Records                                                                                                       T + 3

Merchant Agreement ‑ Credit Card                                                                                                             T + 2

Note and/or Loan Register                                                                                                                                P

Posting or Transaction Journal                                                                                                                        3

Resolutions                                                                                                                                                      T + 3

Sales Tickets or Drafts ‑ Credit Card                                                                                                              3

Statement of Account ‑ Credit Card                                                                                                                5

 

MORTGAGE LOANS

Additional Collateral Agreement                                                                                                                 T + 3

Affidavits                                                                                                                                                         T + 3

Applications                                                                                                                                                     T + 3

Appraisals                                                                                                                                                        T + 3

Collection Records                                                                                                                                         T + 3

Commitments                                                                                                                                                  T + 3

Construction Loan Agreement                                                                                                                     T + 3

Construction Loan Authorizations                                                                                                               T + 3

Correspondence                                                                                                                                              T + 3

Cost Estimates                                                                                                                                                 T + 3

Credit Reports                                                                                                                                                 T + 3

Disclosure and Recision                                                                                                                                T + 3

Escrow Agreements and Records                                                                                                                T + 3

FHA Insurance Receipts                                                                                                                                T + 3

Flood Insurance Documentation                                                                                                                  T + 3

Inspection Reports                                                                                                                                          T + 3

Loan Register                                                                                                                                                      P

Modifications                                                                                                                                                  T + 3

Mortgage Loan Disclosure Statement (Form HMDA‑1)                                                                            5

Paid Bills for Borrowers Construction                                                                                                        T + 3

Settlement Statement                                                                                                                                     T + 3

Signature Cards                                                                                                                                               T + 3

Title Opinions                                                                                                                                                  T + 3

Waiver of Liens                                                                                                                                               T + 3

 

MISCELLANEOUS

All Retirement Plan Accounts

 

All Related Forms and Documents                                                                                                              T + 7

 

General Correspondence                                                                                                                                   3

 

Investments

 

Purchase and Sale                                                                                                                                           T + 3

Register                                                                                                                                                                P

Safe‑Keeping Receipts                                                                                                                                  T + 3

 

Mail Register                                                                                                                                                       3

 

OSHA

 

OSHA Records and Reports                                                                                                                             6

 

Personnel Records

 

Employment Applications

1. Hired                                                                                                                                                             T + 3

2. Not Hired                                                                                                                                                         3

Group Insurance Records                                                                                                                              T + 6

Payroll Records                                                                                                                                                 10

Time Cards                                                                                                                                                          3

 

Purchases, Sales and Participation

 

Agreement                                                                                                                                                        T + 3

Remittance Report                                                                                                                                          T + 3

Sale List                                                                                                                                                            T + 3

 

Safe Deposit Boxes

 

History Cards                                                                                                                                                      P

Lease Contracts                                                                                                                                               T + 3

Rent Receipts                                                                                                                                                      3

 

Savings Bonds

 

Applications                                                                                                                                                        2

Duplicate Stubs                                                                                                                                                   2

Letter of Transmittal of Bonds Redeemed                                                                                                     2

Monthly Report of Sales and Holdings                                                                                                          2

 

Travelers Checks

 

Applications                                                                                                                                                        2

Consignment Receipts                                                                                                                                       2

 

REAL ESTATE OWNED

Appraisal                                                                                                                                                          T + 3

Contracts for Sale                                                                                                                                           T + 3

Deeds                                                                                                                                                                T + 3

Notice of Intent to Foreclose                                                                                                                        T + 3

Leases                                                                                                                                                               T + 3

PMI Claims                                                                                                                                                      T + 3

Tax Records                                                                                                                                                     T + 3

Title Policies                                                                                                                                                     T + 3

Trustee's Report                                                                                                                                              T + 3

 

KEY TO SYMBOLS USED

P              ‑               Permanent

R             ‑               Return to Customer After Termination of Contractual Relationship

T             ‑               Termination (Closed, Paid‑off, or Settled)

 

History Note:        Authority G.S. 54B-55; 54C‑53;

Temporary Adoption Eff. October 2, 1991 for a period of 180 days to expire on March 31, 1992;

Eff. February 15, 1992;

Amended Eff. November 1, 2017.