Nebraska Bankers Association
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  • About
    • Membership
    • News
    • Boards and Committees
    • Alice Dittman Trailblazer Award
    • NBA Foundation
    • Leadership Program
    • Staff Directory >
      • Contact Us
  • Workforce
    • Careers
    • Post Job Openings
  • Advocacy
    • Legislative Update
    • BankPAC
    • Comment Letters
  • Compliance
    • Handbook
    • Compliance Update
    • Compliance Alliance
  • Education
    • Event Calendar
    • In-person Events/Training
    • Webinars
    • ABA Training
    • Banking Schools
    • CYBERSECURITY TRAINING
    • Sponsorships and Exhibits
    • Young Bankers (YBON)
  • Insurance
    • Agency Services >
      • Commercial Insurance
      • Personal Insurance
      • Livestock, Irrigation and Farm Insurance
      • Surety Bonds
    • Bank Property & Liability
    • Financial Institution Insurance
    • Benefit Plans
  • Bank Resources
    • Preferred Vendors
    • Associate Members
    • Marketing Resources
    • Financial Literacy
    • Single Bank Pooled ​Collateral Program
    • Bank Security
    • Compensation & Benefits Survey

SAMPLE RECORDS RETENTION SCHEDULE FOR GENERAL BUSINESS OPERATION PURPOSES

 


 

      
      Record Category And Description

 

Retention Period

Records are located at/in file named


Accounting: Accounts Payable / Receivable

Records relating to payment of financial obligations and receipt of revenues, including vouchers, vendor invoices and statements; payroll and payroll deductions; government contracts and grants, contributions and other income.

6

 


Accounting: Journals / Ledgers

Records used to transfer charges between accounts and for summarizing account information (final, annual records only).

10

 


Accounting: Capital Property

Purchase and sales of property and equipment, depreciation, improvements, etc., including financial obligations associated with capital expenditures, purchases of land, buildings, equipment, furnishings, motor vehicles; material transfers, work orders, additions or improvements to building or equipment and property reporting.

ACT+6

 


Accounting: General

Accounting records not previously above, including accounting reports or control documents; system input, maintenance and changes.

3

 


Admin
istration: Internal Services

Internal support records for personnel, including services and products; material and supplies orders; postal operations, forms management, graphics for reproduction or electronic graphics, airline reservations, user requests and approvals or maintenance requests.

ACT+1

 


Admin
istration: Planning / Forecasting

Records relating to future planning and forecasting for internal purposes, including annual plans, five- and ten- year strategic plans and forecasts, facility requirements or growth forecasts.

3

 


Admin
istration: Property Management

Records relating to the movement or tracking of  property, including inventory and movement of vehicles, equipment, tools, materials and supplies owned, rented or leased; use logs.

3

 


Admin
istration: Property Management; Construction / Maintenance

Records relating to the construction, design, maintenance and property repairs.

ACT+3

 


Admin
istration: Policies / Procedures

Approved procedures for performing activities to ensure uniformity and compliance with both policy requirements and legal requirements, including office and job practices, administrative handbooks, procedures manuals, software and equipment manuals.

2

 


Admin
istration: Policies / Procedures - Compliance

Compliance records in regard to internal policies and procedure, including records destruction certificates.

3

 


Admin
istration: Security

Records relating to protect employees, equipment, buildings and information, including security clearances, password lists, keys to office and desks.

3

 

 
Administration: General          
        

Record relating to administration activities not covered above, including housekeeping, departmental administration or administrative reports.

 

Maximum 1 year

 


Administration: General - Chronological Files
         
Copies of records maintained as backup by authors.  (See, category for retention period of official records).

Maximum 1 year

 


Finance: Banking      

Records relating to banking activities, including deposits, checks, statements, reconciliation’s, drafts, canceled checks, automatic deposit plans, check registers, cash management.

ACT+1

 


Finance: Budgets / Financial Forecasts

Records relating to internal planning and financial management.

ACT+1

 


Finance: Investments

Records relating to passive investments in stocks, bonds, mutual funds, etc., and records to track and management investments, including pension funds.

ACT+6

 


Finance: Bonds / Debentures

Records relating to the issuance of debt and equity papers, including bonds and debenture ledgers, certificate transfers, notes receivables and sinking funds.

ACT+6

 


Finance: Loans / Credits

Records relating to applications, issuance, management and administration of loans, including correspondence with lenders, reports to lenders, debt information, work papers, write-offs, write downs, losses.

ACT+6

 


Finance: Bad Debts

Records relating to monitoring, collecting and writing off of bank debts, including authorizations, supporting details of uncollectable accounts.

10

 


Finance: Financial Statements

Financial statements, reports and background information submitted to government agencies shareholders, partners, etc.  including financial statements submitted SED, IRS, state agencies, etc.

10

 


Finance: Purchasing

Records relating to bids requests, bid review, receiving, inspection of merchandise, etc.

3

 


Finance: General

Records relating to finance activities not covered above.

3

 


Personnel: Benefits; Benefit Plans

Records relating to sponsored benefit plans, including insurance, pension, disability, medical, survivor programs, ESOP, PAYSOP, vesting criteria, vacation entitlements, educational assistance, savings plans and correspondence explaining benefit plans.

       ACT+6            

 


Personnel: Benefits; Contributions / Benefits Provided

Records relating to contribution and participation in firm sponsored benefit plans, including insurance, pension, disability, savings, etc.

 


6

 

 


Personnel:  Benefits; Elections

Records of elections by employees for type and amount of participation in firm benefit plans.

ACT+6

 


Personnel:  Benefits; Pension Summary Information

Records relating to cumulative years of service, total pension contributions, accrued benefits, etc.

ACT+6

 


Personnel:  Employee Selection

Generally, records relating to personnel requests, job applications, testing, advertising, interviews, etc.

3

 


Personnel:  Employee Records / Summary Records

Summary records for individual employees.

ACT+3

 


Personnel:  Employee Records / Detailed Records

Records regarding specific employees, including hiring, promotion, performance appraisals, transfers, termination.

3

 


Personnel:  Health and Safety; Medical Records - General

Records of treatment, examinations, history, etc., relating to general medical matters.  See, HUM4020 for accident and injury reports and HUM4030 for hazardous exposure.

CY+5

 


Personnel:  Health and Safety; Accidents / Injuries

Records relating to on-the-job accidents used for workers’ compensation claims.

CY+5

 


Personnel:  Health and Safety; Hazardous Exposure

Medical records relating to exposure or possible exposure to hazardous or toxic substances including testing. 

ACT+30

 


Personnel:  Health and Safety; Material Safety Data Sheets

Material safety data sheets required by OSHA.

IND

 


Personnel:  Training / Development

Records relating to the development and operation of firm-sponsored training programs and seminars, including seminars, education assistance, management and supervision development, job progression, drug and alcohol awareness, course listings, schedules, requests and approvals.

ACT+3

 


Personnel:  Training and Development; Certification

Records relating to certification for individuals to perform certain jobs, e.g., CPA license, bar admission to practice law, continuing education certificates, etc.

ACT+3

 


Personnel:  Payroll Administration / Timesheets

Records relating to determining and monitoring payroll and deduction amounts, including timesheets.

3

 


Personnel:  General

Records relating to personnel activities not covered above.

3

 


Legal:  Business Entity

Records relating to the creation and formal proceedings of the business entity, including its subsidiaries.

IND

 


Legal:  Business Entity; Meetings / Minutes

Records / minutes relating to board, shareholder or other legally-required meetings.

10

 


Legal:  Business Entity; Ownership

Records relating to ownership of business entity, including stock transactions, sales of ownership rights, etc.

ACT+6

 


Legal:  Business Entity; Former Entities

Records relating to the creation and formal proceedings of dissolved entities.

10

 


Legal:  Contracts / Agreements

Records relating contracts, leases and other agreements entered into, including contracts for services, purchases and sales, transportation, leases, exchange of property and government contracts.

ACT+6

 


Legal:  Contracts / Agreements;  Contract Performance

Records relating to compliance or performance of contracts, including determination of costs, performance of services, payments and work products for government contracts.

6

 


Legal:  Contracts - Real Property;  Improvements

Records relating to contracts and agreements for improvements to real property.

ACT+12

 


Legal:  Contracts - Real Property;  Improvements - Compliance

Records relating to compliance under contracts for improvements to real property.

12

 


Legal:  Liability Insurance

Records relating to liability coverage, including policies, amendments, riders, proof of payment, etc.

ACT+6

 


Legal:  Insurance; Future Liability

Records relating to insurance coverage for general liability, product liability, exposure to hazardous substances or other issues that may arise after policy terminates.

IND

 


Legal:  Claims / Litigation

Records relating to threatened or asserted litigation or government investigation, including pleadings, discovery, attorney work-products, legal opinions, transcripts, exhibits, final judgments, etc.

ACT+6

 


Legal:  Compliance

Records relating to legally required preparation of documents, including reporting and filings with agencies, e.g., IRS, SEC, DOT, OSHA, EPA, EEOC, State Agencies, federal and state financial regulators; external audits required by government agencies, etc.

6

 


Legal:  Compliance; Tax Returns

Sales, income, property tax returns filed, etc.

IND

 


Legal:  Compliance; License / Permits

Licenses or permits required to do business, collect taxes, etc.

ACT+3

 


Legal:  Compliance;  Orders - Agency / Court

Records relating to orders issued.

ACT+3

 


Legal:  Legal Projects

Records relating to providing or determining legal requirements and providing legal advise.

ACT+10

 


Legal:  Legal Research;  Legal Opinions

Records resulting from legal research or opinions that document specific legal advice provided.

IND

 


Legal:  Copyright / Trademark / Patents

Records relating to preparation, filing, maintenance and rights.

ACT+6

 


Legal:  General

Records relating to legal activities not covered above.

3

 


Miscellaneous

Miscellaneous records not falling into other categories.

1

 


Miscellaneous:  Reports / Copies

Miscellaneous reports and other records that need only be reviewed for a short period - day, week, quarter, current year.

1

 


Miscellaneous:  Reports / Copies;  Periodic Replacement Records

Records replaced periodically or updated.

Until Superceded

 


Miscellaneous:  Reports / Copies;  Transmittal Forms

Records used to transmit information to another record.

Maximum 1 year

 


Miscellaneous:  Special Projects

Records relating to special projects not fitting another category.

ACT+1

 


Public Affairs:  Community Relations

Non-CRA- related records regarding participation or promotion of activities, associations, charitable contributions, civic organizations, etc.

3

 


Public Affairs:  Government Relations / PACs

Records relating to monitoring government activities, proposed laws and political action committees.

5

 


Public Affairs:  Publicity

Records relating to marketing and promoting entity and activities, e.g., press releases, publications or photographs.

5

 


Public Affairs:  Employee Relations

Records relating to informative communications to employees, e.g., newsletters, letters from management, etc.

3

 


Public Affairs:  Industry Relations

Records relating to information on other industries and companies.

ACT

 


Public Affairs:  Publications

One copy of each final publication for record or reference.

5

 


Public Affairs:  General

Records relating to public affairs not covered above.

3

 


Reference

Material retained for reference purposes.

Until Superceded

 


Sales:  Advertising / Marketing

Records relating to advertising and claims made to potential clients, including brochures, bids, proposals, etc.

ACT+3

Compliance Handbook Search

*
  • Volume I
    • Compliance Management
    • Governance
    • Bank Structure
    • Personnel
    • Record Retention
    • Public Disclosure
    • Privacy
    • Security
    • CFPB
  • Volume II
    • Deposit Accounts
    • Public Funds
    • Bank Promotion
    • Nondeposit Products
    • Unclaimed Property
  • Volume III
    • Secured Transactions
    • Real Estate
    • Lending
    • Environmental Issues
    • Miscellaneous

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Nebraska Bankers Association

233 South 13th Street, Suite 700
Lincoln, NE 68508
​402-474-1555
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