Wis. Admin. Code Department of Financial Institutions DFI-Bkg 9.01

Current through November 25, 2024

Section DFI-Bkg 9.01 - Retention of records; reproduction thereof; destruction of obsolete records

(1) Section 220.285, Stats., provides that all records kept may be copied or reproduced by any photostatic, photographic or miniature photographic process which correctly, accurately and permanently copies, reproduces or forms a medium for copying or reproducing the original record on a film or other durable material. That section also provides that such photographic, photostatic or miniature photographic copy or reproduction or copy reproduced from a film record made from a bank record is deemed to be an original record for all purposes and shall be treated as an original record in all courts or administrative agencies for the purpose of its admissibility in evidence. The schedule following sets forth the minimum retention period for records in either their original form or reproduced form, in order to ensure the preservation of such records so long as there is a reasonable possibility they may be required to establish a claim on behalf of the bank or to defend the bank from a claim made against it.

(2) The consent from the administrator of the division of banking for the destruction of obsolete records after the minimum retention period is permissive and is not to be interpreted as requiring destruction at the end of the period. The administrator of the division of banking hereby gives this blanket consent for the destruction of records in accordance with the following schedule:

PERIOD IN YEARS
P-Permanent
AC-After Closing
AP-After Payment
Auditing and Accounting
Audit Reports (by outside auditors)..........	10
Bank Call Reports .......................	20
Bank Examination Reports ................	P
Branch or Station Daily Reports to	10
Main Office ...........................
Cash Reserve Computation Sheets ..........	2
Daily Financial Statements ................	20
Earnings & Dividends Reports .............	20
Monthly Reports to Directors (and	10
Executive Committee)....................
Reconcilements of Bank (due to)	10
deposits ..............................
Reconcilement Register, due from banks ......	10
Tax Returns and Tax Audit Reports..........	20
Capital
Dividend Checks ........................	15 AP
Dividend Register .......................	15
Proxies ................................	3
Receipts for Stock Certificates	P
(recommended that receipts obtained
be affixed to certificate book stubs) .........
Stock Certificate Books, and Stubs ..........	P
Stock Ledger ...........................	50
General Ledger

Daily Statement of Condition .................	20
General Journal
(a) If a byproduct of posting general ledger ......	2
(b) If an original book of entry, with descriptions	20
General Ledger Sheets.......................	P
General Ledger Debit & Credit Tickets ..........	10
Insurance
Blanket Bonds .............................	6
Other Policies (after expiration) ................	3
Records of Policies in Force, Premium	3
Payments and sums recovered................
Investment
Bond Ledger Records .......................	20
Broker's Confirmations ......................	10
Broker's Invoices...........................	10
Broker's Statements.........................	5
Buy and Sell Orders ........................	5
Descriptive Literature on Issues	Optional
Disposed of ..............................
Loans
Applications...............................	1 Yr. After Last
Scheduled Payment or
1 Yr. AP in full,
whichever is sooner
Collateral Margin Cards......................	Optional
Collateral Register and Receipts ...............	10
Credit Files (Closed) ........................	3 AC
Debit and Credit Tickets .....................	10
Journal
(a) If a byproduct of posting liability ledger	2
(b) If an original book of entry, with descriptions.	20
Liability Ledger............................	10
Loan Committee Minutes .....................	20
Note or Discount Register ....................
(a) If a byproduct of posting liability ledger	2
(b) If an original book of entry, with descriptions.	20
Note and Discount Tickler ....................	Optional
Resolutions ................................	7 AP
Minute Books
Minutes of Directors' Meetings ................	P
Minutes of Stockholders' Meetings .............	P
Personnel
Retention of personnel records should be
in conformity with regulations of
Federal and State Agencies
II Cash
Due from Banks
Advices from Correspondents .................	2
Bank Statements ............................	5
Drafts (Paid) ...............................	5 AP
Draft Register ..............................	10
Reconcilement Register ......................	10
Proof Clearings & Transit
Clearing House Settlement Sheets..............	1
Proof Sheets or Tapes for Deposits,	1
Departmental or Teller Totals,
Incoming & Outgoing Clearings and
Transit Items ...............................
Tellers

Cash Items Records (Register).................	5
Cash Variation Records ......................	10
Return Items Records........................	5
Tellers Cash Book (or sheets) .................	5
Tellers Cash Tickets.........................	1
Tellers Blotter, Journal or Proof................	2
Deposits
Certificates of Deposit
Certificates, after payment....................	10
Certificate Ledger ..........................	15
Certificate Register .........................	15
Computer (EDP) Trial Balance &	15
Journal Records ...........................
Computer (EDP) Monthly or Weekly	5
Reports..................................
Commercial Deposits (Subject to Check)-individuals & Firms
Computer (EDP) Records:
Conversion (initial entry) Run.................	1
Customers' Statements.......................	10
Daily Journals & Trial Balances ...............	1
Daily Reports on Changes in Master Files,	1
Large Balances, New & Closed Accounts, Service
Charges, Overdrafts, Unposted Items, Uncollected
Funds, Exceptions, etc.
Deposit Tickets (or duplicates) ................	10
Ledger Journals (or bookkeeper's daily	1
list of checks charged in total) ................
Ledger Sheets ..............................	10
Overdraft Register or Record ..................	5
Resolutions ................................	10 AC
Returned Checks Records ....................	5
Service Charge Records ......................	3
Signature Cards ............................	10 AC
Stop Payment Orders ........................	2
Trial Balances ..............................	2
Unclaimed Balances Record ..................	20
Undeliverable Statements &	10
Cancelled Checks ..........................
Club Accounts (Christmas, Vacation, etc.)
Checks, after Payment .......................	10
Check Register .............................	15
Coupons ..................................	1
Journal ...................................	5
Ledger Cards ..............................	5
Withdrawn Receipts.........................	15
Due to Banks
Bank Ledger Sheets .........................	10
Cash Letter Memos for Credit .................	5
Cash Letters for Remittances ..................	5
Reconcilement Register ......................	10
Official Checks (Cashier, Certified, Expense, Money Orders, etc.)
Checks ...................................	15 AP
Check Registers ............................	15
Computer (EDP) Journal & Trial	5
Balance ..................................
Computer (EDP) Weekly or Monthly	5
Reports ..................................
Receipts Issued for Certified Checks ............	10 AP
Savings
Computer (EDP) Records:
Daily Journal & Trial Balances ................	1
Pyramidal Journal & Trial Balance .............	15
Semiannual Statements to Depositors ...........	15
Proof Listing, Account, Exceptions	1
and Maintenance Reports ....................
Deposit Tickets .............................	10
Journal (or Machine Control Tapes) ............	5

Ledger Cards or Sheets ......................	10
Resolutions ................................	10 AC
Signature Cards ............................	10 AC
Unclaimed Balances Record ..................	20
Withdrawal Receipts ........................	10
IV Miscellaneous
Collections
Coupon cash letters, outgoing .................	5
Incoming collection letters ....................	5
Receipts ..................................	5
Register ..................................	15
Returns ...................................	5
Customer Services
Brokers' invoices, confirmations and	15
statements ................................
Letters of credit applications ..................	20
Letters of credit ledger accounts ...............	20
Night depository (after hour) Agreements or	10
contracts .................................
Night depository (after hour) Receipts ...........	10
Safe Deposit Vault: ..........................
Access or entrance records ....................	20
Cancelled signature cards or leases .............	5 AC
Contract or lease agreement records ............	5 AC
Rental records .............................	5
Safekeeping records and receipts ...............	20
Securities buy and sell orders	20
( customer's) .............................
Travelers' Checks applications ................	3
General
Attachments, court orders,	10
garnishments & releases .....................
Correspondence-Routine	Optional
Covering commitments, policies
or decisions ..............................
Escrow account records ......................	10
Foreign Exchange remittance records ...........	10
Paid bills, invoices & statements	10
(for expenses, etc.) .........................
Protest notices .............................	1
Stenographers' notebooks ....................	1
Telegrams, cables & radiogram copies ..........	10
Vault records; openings & closing..............	5
Withheld taxes accounts; deposit	10
tickets, receipts & remittances ................
Registered Mail
Incoming and outgoing records ................	5
Return receipt cards .........................	5
V Trust Department
Approval Files of Co-Trustees ................	10
Brokers' Purchases and Sales	2 AC
Confirmations .............................
Cancelled Stock Certificates ..................	P
Correspondence:
Routine ..................................	Optional
Important (covering commitments,	10
decisions or policies) .......................
Debit and Credit Tickets and	10
Other Posting Media .......................
Dividend Checks Issued as	20
Distributing Agent .........................
Document Files ............................	20 AC and Release
Expense Vouchers ..........................	20
General Journal ............................	P
General Ledger.............................	P
Investment Reviews and Analyses ..............	10
Ledger Records-Trust ......................	P
Ledger Records-Common Trusts ..............	P
Stock Ledgers as Transfer Agents ..............	7 Yrs. after Individual
Account Closed

Tax Returns, Federal and State:
Estate ...................................	P
Gift .....................................	20 Yrs. after Final
Accounting
Income ..................................	20 Yrs. after Final
Accounting
Trust Checks ...........................	14
Trust Committee Minutes .....................	P
Trust Investment Committee Minutes ...........	P
Voucher Receipts or Records..................	6

Wis. Admin. Code Department of Financial Institutions DFI-Bkg 9.01

1-2-56; am. Register, July, 1963, No. 91, eff. 8-1-63; am. Register, July, 1968, No. 151, eff. 8-1-68; am. (4), Register, August, 1971, No. 188, eff. 9-1-71; am. Register, September, 1973, No. 213, eff. 10-1-73.