Section 36a-40-3 - Connecticut banks(a)Administrative/Corporate - Retention Schedule(1) Minute books of meetings (corporators, stockholders, directors and all committees) - Permanent(2) Bank charter or certificate of incorporation, By-laws and Amendments - Permanent(3) Bank call reports - 7 years(4) Directors' examination reports, including outside auditors' reports - 7 years(5) Community Reinvestment Act compliance documentation - 3 years(6) Earnings and dividend reports to supervising agencies - 7 years(7) Bank building/branch offices (approval of commissioner for alterations, acquisitions and improvements and all relevant legal documents regarding same) - 25 years(8) Blanket Bond - 6 years after expiration(9) All other insurance coverage - 2 years after expiration(10) Repaid notes for all types of borrowed funds - 7 years after date of repayment(11) Charged-off asset records - 7 years(12) Leases, agreements and contracts - 7 years after expiration(13) Night depository agreements and contracts - 7 years after expiration(14) Night depository logs/receipts for depositor bags - 1 year after entry or receipt(15) All legal rulings - 7 years after expiration of resulting action(16) All federal and state corporate tax records - 7 years(17) All corporate income and property tax returns - 25 years(18) All federal and state customer tax records and supporting records - 7 years(19) Attachments and garnishments of property due customer (A) After release by judgment or court certificate - 1 year after release(B) After ordinary release - 7 years after release(20) Power of Attorney - 7 years after account is closed(21) Security ledgers (investments) - 7 years(22) Broker-Dealer confirmations of securities transactions - 7 years(23) Broker-Dealer account statements - 7 years(24) Securities purchase and sale blotter - 7 years(25) General Ledger(A) Statement of condition (daily) - 25 years(B) General ledger and subsidiary ledgers - 25 years(C) All general ledger debit and credit tickets - 7 years(26) Central Information File (A) Address changes - 2 years(B) CIF records - 1 year after termination of customer relationship(C) Daily report sheets (any changes in account status) - 1 year(27) Control and Proof (A) Trial balances on all loan and deposit functions - 7 years(B) All transaction journals - 7 years(C) All new and paid-off loan reports - 2 years(D) All delinquent loan reports - 2 years(E) Daily reserve computations - 2 years(F) Balance and verification of cash letters - 2 years(G) Cash letters - 2 years(H) Reconcilement and remittances of serviced loan reports - 2 years(I) Automated clearinghouse, point of sale terminal, automated teller machine and other electronic fund transfer records/transactions - 2 years(28) Purchasing Department (A) Inventory and control records - 7 years(B) Purchase orders - 2 years(C) Paid bills, orders and expense vouchers - 7 years after date of payment(29) Personnel and Pensions (A) Employee list - 3 years(B) Applications (not hired) - 1 year(C) Attendance records - 7 years(D) Employee history records - 3 years after termination(E) Employee insurance benefit records - 3 years after termination(F) Payroll register - 3 years(G) All employee federal and state tax returns - 7 years(H) Employee payroll deduction plans - 7 years(I) Pension option forms - 6 years after expiration of option(J) Pension plans - 7 years after expiration of plan(K) Retirement certificates - 7 years after death of retiree(L) Occupational illness and injury records - 5 years(M) Pension payment register - 7 years(N) All other employee pension documentation - 7 years(30) Capital Stock banks (A) Capital stock certificates (not cancelled), records and stubs - Permanent(B) Capital stock ledger - Permanent(C) Capital stock transfer register - Permanent(D) Receipts of stock certificates, affixed to stub of certificate book - 7 years(F) Dividend checks - 7 years after date paid(G) Dividend register - 7 years(H) Report of lost or stolen certificates - 3 years(I) Cancelled capital stock certificates - 7 years after cancellation(b)Cash - Retention Schedule(1) Due from banks (A) Reconcilement of bank statements - 2 years(B) Check register including all paid checks and drafts - 7 years after issuance of check or draft(C) Deposit records - 7 years(D) Signature authorizations - 7 years after termination of authorization(E) Advices of debit/credit - 6 months(2) Tellers (A) Cash item record - 1 year(B) Tellers' variation record - 1 year(C) Tellers' balance records - 6 months(D) Return item register - 2 years(E) Collection items, incoming and outgoing register - 2 years(c)Deposit Accounts - Retention Schedule(1) Demand accounts(A) Customers' statements - 7 years(B) Deposit and withdrawal tickets - 7 years(C) Stop payment orders and releases, lost check affidavits - 7 years(D) Undelivered statements and cancelled checks - 7 years(E) Unclaimed deposits - 3 years after escheated to State(F) Checks ("on us") - 7 years after date paid(G) Signature cards - 7 years after account is closed(H) BAD checks and forgery data and correspondence - 7 years(J) Overdraft reports - 2 months(K) Unless a longer time is required by this section, records sufficient to reconstruct a demand account and either to trace a check in excess of $100 deposited in a demand account through a Connecticut bank's processing system or to describe a check in excess of $100 deposited in a demand account - 2 years(2) Official checks and drafts (A) Officers' checks (if paid) - 7 years after date paid(B) Officers' check register - 7 years(C) Certified checks - 7 years after date paid(D) Certified check register - 7 years(E) Drafts (if paid) - 7 years after date paid(F) Draft register - 7 years(3) Savings and time deposits(A) Deposit and withdrawal tickets - 7 years(B) Affidavit of lost passbook - 7 years(C) Permanent dividend order - 7 years after account is closed(D) Signature cards - 7 years after account is closed(E) Unclaimed accounts - 3 years after escheated to State(F) Certificates of deposit - 7 years after date paid(G) Individual Retirement Accounts (all records) - 5 years after account is closed(4) Club deposits (A) Cancelled checks - 7 years after cancellation(B) Payment record (coupons, etc.) - 2 years(C) Check register - 7 years(d)Loans - Retention Schedule(1) All loans (to the extent applicable) (A) Borrowing resolutions - Until loan is paid(B) Assigned leases, agreements, contracts, deeds, security agreements, releases and other chattel and collateral documents - Until loan is paid(C) Notes, loan agreements and other loan documents - Until loan is paid(D) Loan applications, appraisals, credit reports, financial statements, and all other pertinent loan information (i) For loans which are made - 25 months after loan is paid(ii) For loan applications which have been denied - 25 months after notice of adverse action(E) Liability ledger - 7 years after loan is transferred or paid(F) Inactive credit records and files for paid loans - 7 years after loan is paid(2) Mortgage Loans (A) Construction loan record cards - 7 years after final disbursement(B) Delinquent tax record - 7 years(C) Foreclosed real estate documents - 7 years after disposal of property(D) Escrow analysis - 1 year(E) Payment record (coupons, bills, paid loan ticklers, etc.) - 2 years after respective payment(F) All documents evidencing compliance with Truth in Lending - 2 years after date disclosures are required to be made or action is required to be taken(3) Loans and discounts (A) Collateral receipts (customers) - 7 years after loan is paid(B) Collateral register or cards - 7 years after disposal of collateral(C) Pledge agreements including letter of hypothecation - 7 years after loan is paid(D) Other receipts for items returned to borrower - 7 years(4) Consumer Loans(A) Payment record (coupons, bills, paid loan ticklers, etc.) - 2 years after respective payment(B) Education loan disbursement book (interim loans) - 7 years after transfer(C) Payment register - 7 years after final payment(D) Credit Card applications/files - 2 years after account is closed(E) Interbank credit cards(i) Transmittal/register - 2 years(ii) Sales drafts - 7 years(iii) Customer's statement - 7 years(F) All documents evidencing compliance with Truth in Lending - 2 years after date disclosures are required to be made or action is required to be taken(e)Customer Services - Retention Schedule(1) Safe deposit and safekeeping records(A) Safe deposit contract cards - 7 years after expiration(B) Safe deposit access cards and slips - 7 years(C) Safekeeping records after surrender of item - 7 years(D) Rent and storage payment receipts - 2 years(E) Records relating to contents of drilled boxes - 3 years after escheat or other disposition(F) Cancelled signature cards - 2 years after expiration(2) Special Services (A) Travelers check applications - 2 years(B) Travelers check control and inventory records - 2 years(C) Savings Bond applications - 4 months(D) State Revenue Services Commissioner report of death of joint depositor -7 years(E) Food stamp reports and controls - 1 year(F) All lottery records/advices - 1 year(G) Authorization (transfer of funds) - 7 years(H) Security camera film (processed and unprocessed) and video surveillance system videocassettes, videotape or other output media - 6 months(I) Unless a longer time is required by this section, a record of each advice, request or instruction given or received by a Connecticut bank which results in the transfer of more than $10,000 of funds, currency, checks, travelers checks, money orders, investment securities or credit to any person, account or place outside the United States - 5 years(J) Unless a longer time is required by this section, a record of and each document representing a transfer of more than $10,000 of funds, currency, checks, travelers checks, money orders, investment securities or credit to or from any person, account or place outside the United States - 5 years(K) Unless a longer time is required by this section, each money order or registered check for more than $100 - 5 years(f)International Department - Retention Schedule(1) Cable copies - 7 years(2) Cable requisitions - 7 years(3) Foreign collection register - 7 years(4) Foreign draft applications - 7 years(5) Foreign draft carbons - 7 years(6) Foreign exchange remittance sheets or books - 7 years after issue(7) Foreign mail transfer applications - 7 years(8) Foreign mail transfer carbons - 7 years(9) Letter of credit applications - 7 years(10) Letter of credit ledger sheets - 7 years(g)Trust Department - Retention Schedule(1) Administrative (A) Minute book of meetings (Directors, Trust Committee, Officers' Investment Committee and Trust Policy Committee) - Permanent(B) Surety Bonds - 7 years after expiration(C) Dividend record cards (closed) - 7 years after payment(D) Dividend and interest disbursement checks - 7 years after payment(E) Daily statement of Trust Department - 3 years(F) Individual vault entry tickets - 7 years(G) Inheritance tax returns - 7 years(H) Federal and state tax information returns - 7 years(I) Transfer tax waivers - 7 years(J) Corporate trust ledgers - 7 years(K) Buy and sell orders - 7 years(L) Bonds and coupons - Until cancellation(M) Receipts for cancelled bonds and cancelled coupons - 7 years after account is closed(N) Correspondence - all types - 7 years(O) Signature files - 7 years after account is closed(P) Registered and certified mail reports - 3 years(Q) Paid invoices: Tradesman, professional and miscellaneous - 3 years after payment(R) Security acquisition reports - 7 years(2) Probate Trusts, Guardian, Conservator, Estate Accounts (A) Copy of wills - 7 years after account is closed(B) Receipts for property delivered - 7 years after account is closed(C) Assets, income and principal cash ledgers - 7 years after account is closed(3) Intervivos Trusts, Custody and Agency Accounts(A) Original instruments - 7 years after account is closed(B) Receipts for property delivered - 7 years after account is closed(C) Assets, income and principal cash ledgers - 7 years after account is closed(4) Stock Transfer (A) Cancelled certificates - 7 years after cancellation(B) Dividend assignment - 7 years after release of assignment or account is closed(C) Stockholders ledgers - 7 years after account is closed(D) Transfer journal - 7 years after account is closed(5) General Ledger (A) Trust ledger - 7 years after account is closed(B) Check register - 7 years after issue of check(C) Trust checks cancelled - 7 years after cancellation(D) Asset ledger, cash ledger, investment ledger and stock transfer ledger - 7 years after account is closedConn. Agencies Regs. § 36a-40-3
Effective June 29, 1994; ; Amended January 30, 1996