Regulations of Connecticut State Agencies
(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
(E) Proxies - 3 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
(I) Advices - 6 months
(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 closed
(Effective June 29, 1994; ; Amended January 30, 1996)