North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 03 - BANKING COMMISSION › Subchapter C - BANKS › Section .0800 - MISCELLANEOUS REPORTS AND APPROVALS › Section 03C .0903 - RETENTION: REPRODUCTION AND DISPOSITION OF BANK RECORDS

Current through Register Vol. 39, No. 2, July 15, 2024
(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 to be
								Retained
Minimum 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 Attomey
5 years after closing
9
Retum 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 Ongmal 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 Penod 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 Title
								Opinions Pertaining to Collateral
Until paid
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 - Cancelled or Cremation
								Certificates
7 years after 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.
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.