North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter E - OPERATION OF SAVINGS INSTITUTIONS › Section .0300 - RECORDS AND POLICIES › Section 16E .0302 - RETENTION, REPRODUCTION AND DISPOSITION OF RECORDS

Current through Register Vol. 39, No. 2, July 15, 2024
(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 RETAINED
MINIMUM RETENTION 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
LOANS (Commercial, Consumer Credit, and Credit
								Cards)
10
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
P -
Permanent
R -
Return to Customer After Termination of Contractual
								Relationship
T -
Termination (Closed, Paid-off, or
								Settled)
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;
Pursuant to
					 G.S.
					 150B-21.3A, rule is necessary without
					 substantive public interest Eff. November 22,
					 2018.