Record Retention Schedule
Based on the Retention Manual of the Financial Managers Society (FMS)
Anything not specifically on this list will be retained per the Retention Manual of the FMS.
Annual Audit ReportPermanent
Annual Meeting MinutesPermanent
Articles of IncorporationPermanent
Financial Statements - Monthly5 yrs after Jan 1 of the following year
Financial Statements – Year EndPermanent
Bankruptcy NoticesPermanent
Board Meeting MinutesPermanent
Branch ApplicationsPermanent
BylawsPermanent
Bylaws – AmendmentsPermanent
Call ReportsPermanent
Cash JournalsPermanent
Charged Off AssetsPermanent
Charged Off LoansPermanent
Charged Off Loans – RecoveriesPermanent
ChartersPermanent
Delinquent Loan Reports6 yrs
Dividend Reports7 yrs
Dormant Account Records7 yrs
Employee Benefit PlansPermanent
Employee RecordsPermanent
Fixed Asset RecordsLife + 3 yrs
General LedgerPermanent
Incorporation PapersPermanent
Insurance PoliciesPermanent
Individual Share and Loan LedgersPermanent
Litigation RecordsPermanent
Member StatementsPermanent
NCUA LettersPermanent
Officers List and Oath of OfficePermanent
Profit Sharing PlansPermanent
State/NCUA ExaminationsPermanent
Supervisory ExamsPermanent
Trust Records – Personal/CorporatePermanent
Unclaimed DepositsPermanent
Wage and Salary RecordsPermanent
W-9 (Certify Taxpayer ID)7 yrs after termination
Accounting –
Budget2 yrs
ALM Documents3 yrs
ATM Settlement Reports3 yrs
Depreciation Reports7 yrs after asset life
Currency Transaction Reports7 yrs
Bank Statements and Recons7 yrs
General Ledger7 yrs
Money Orders 1 yr
Paid Checks 7 yrs
Cancelled Checks7 yrs
Interest Checks7 yrs after paid
Transaction Journals6 yrs
G/L Reconciliations2 yrs
A/P A/R Records6 yrs
Paid Expenses5 yrs
Charged Off Loan Notes6 yrs after account closed
Administrative –
Death Claim Files3 yrs
Loans to Execs/Directors2 yrs after account closed
Address Change Form2 yrs
Insurance Policies – Fixed Assets7 yrs after termination
Audit Reports10 yrs
Garnishments10 yrs
Property DeedsLife Plus 2yrs
Inventory RecordsLife Plus 2 yrs
Fixed Asset InvoicesLife Plus 2 yrs
Consumer Loans –
Adverse Action Notices2 yrs
Credit Files6 yrs after account closed
Paid Loan ReportsExamination to examination
New Loan ReportsExamination to examination
Charged Off Notes6 yrs after account closed
Collateral Records6 yrs after account closed
Denied Apps25 Months
Real Estate Loans –
Adverse Action Notices2 yrs
Loan Agreements6 yrs after account closed
Credit Files6 yrs after account closed
Good Faith EstimatesLife of loan
Loan Settlement Statements6 yrs after account closed
Mortgages6 yrs after account closed
Promissory Notes6 yrs after account closed
Foreclosure Records6 yrs after account closed
Denied Apps25 Months
Deposits –
Trial Balance4 yrs
Form 10995 yrs
Year End Statements7 yrs
ATM/ACH Transactions4 yrs
Certificate of Deposit5 yrs after redemption
Share Drafts –
Return Item Records2 yrs
Daily Overdraft Reports4 yrs
Checks Paid7 yrs
Stop Payment Orders7 yrs
Savings Accounts –
Night Deposit Records2 yrs
Savings Bonds Records2 yrs
Trial Balance4 yrs
Wire Transfers7 yrs
IRA Account Records7 yrs after account closed