I. INTRODUCTION
The Department of Banking and Finance, pursuant to the provisions of §§ 8-170 and 8-175, authorizes banks to dispose of old records in accordance with the following schedule, which is based on revised Nebraska Department of Banking regulations (Title 45, Chapter 27). This schedule contains minimum record retention periods. As local procedures vary considerably, it has been designed with the view of protecting a bank, bank customers and third parties and not with the view of customer convenience.
Records established through computer or other electronic means and information received relative to such records in the form of print-outs shall be maintained in such a manner so that the accounts reflected thereon can be reconstructed form the date of origin to show all entries, and may be retained in accordance with the attached schedules. Computer print-outs reflecting unpaid balances in favor of depositors shall not be destroyed without means of reconstruction of each such account. Microfilm, microfiche or other electronic imaging are acceptable means of maintaining such records providing they are readable.
Since this retention schedule indicates only the minimum retention period prescribed by the Department, longer retention periods may be prescribed by other agencies in some cases and individual entities may prefer to maintain certain records for longer periods of time. This schedule is also not considered an all-inclusive list of records which the bank may be responsible for retaining.
II. PERMANENT RECORDS
A. Keep Original
Bank charter
Capital stock book
Customer deposit ledgers showing unpaid balances (Note: unless the bank has remitted such unpaid balances to the State Treasurer pursuant to the Uniform Disposition of Unclaimed Property Act. The bank must retain a record of every such remittance for ten years following the date of such remittance.)
Inventory of drilled safe deposit boxes
Minutes of stockholders meetings
Minutes of directors meetings
All other records that relate to the corporation or to the corporate existence of the bank. (See, § 8-170.)
Keep records for time period indicated, which commences from the date the record originated unless otherwise noted. Microfilm or microfiche is an acceptable means of maintaining such records providing it is readable.
Advices of deposits
1 year
Advices from correspondents (due from banks)
Bank Call Reports
7 years
Bank examination reports
10 years
Bank statements (due from banks)
3 years
Bond ledger
Cancelled checks for truncated checking accounts (original must be maintained for 6 months and may be filmed at that time)
6 years
Cash item records
Cashiers checks
Certified check register
Collection receipts
Collection register
Credit files (after credit is extinguished)
Correspondence, general
Coupon cash letters, outgoing
Customers’ deposit ledgers
Daily Statement
Debit and credit tickets
Departmental or teller’s proof sheets
Drafts
Draft register
Dividend checks
Dividend check register
Expense checks
Expense check register
Financial Institution Bonds (after expiration of bond)
General ledger
General journal
General ledger tickets
Income and expense records
Incoming cash letter
Incoming registered mail log
Insurance records (after expiration of policy)
Liability ledger
Minutes of any committee appointed by either stockholders or directors(If report in written form is incorporated or attached to minutes of appointing authority, that is sufficient.)
Negotiable collateral record
Night depository agreements
Night depository daily records
Note or discount ledger
Outgoing cash letter
Outgoing registered mail log
Paid certificates of deposits
Personnel records (After termination of employment and pension rights)
Proof tapes
Proxies
Reconcilements (due to banks)
Reconcilements register (due from banks)
Registered mail return receipt cards
Reserve computations, daily
Safe deposit contracts (after termination of contract)
Safe deposit entry records (after termination of contract)
Safe keeping records and receipts
Signature cards (after closing of account)
Stop Payment orders
Tax records
Tellers’ cash books
Tellers’ tickets
Traveler’s checks, records of close
Travelers’ checks register
IV. SPECIAL TREATMENT
A. Customer Ledgers
If you keep as permanent records the signature cards and daily opened and closed account reports, and in addition keep all ledgers for six years, then you may film and destroy all older ledgers.
B. Undelivered Statements
While technically you should retain statements and cancelled checks until they are called for, or until you have some written authority to mail them, we can see no practical reason why you cannot mail statements and cancelled checks to the last known address of the depositor, so long as you use first class mail, thus assuring the delivery to the depositor or the return to you. As you require no receipt for statements that are delivered at your window, this method of delivery is at least as satisfactory as your prior custom.
C. Computer Printouts
All computer printouts should be retained for the period by which a reconstruction of the accounts reported could be accomplished. After this period, such printouts may be microfilmed or otherwise duplicated and the duplicate should be retained for at least the period recommended for retention of the original document. (See, §§ 27-1002, 27-1003 and 27-1004). All microfilm or other duplicate must be readable and should be proofed prior to the destruction of the original records.
D. Microfilmed Records
We would recommend that all microfilm records be retained for at least one year, or for the period recommended for the retention of the original documents, whichever is longer, unless specific permission from the director of banking for early disposal is obtained.
V. NATIONAL BANKS & FDIC-INSURED BANKS
For national banks and FDIC-insured banks, special attention is invited to 12 U.S.C. § 1829(b): Retention of records by insured depository institutions, which requires the retention of records by banks of checks and of the identity of persons who are authorized to act with respect to accounts therein. More specifically:
12 C.R.F. § 1.5 “Safe and sound banking practices; credit information required” simply provides that national banks are required:
To maintain records available for examination purposes adequate to demonstrate that it meets the requirements of this part. The bank may store the information in any manner that can be readily retrieved and reproduced in a readable form.
No retention period is stated however, for these “records.”
NOTE: Special consumer compliance regulations require different record retention dates. You are referred to the separate agency regulations for specific retention periods required.