Section 14-5-404 - RETENTION OF RECORDS BY HOLDERA holder required to file a report under section 14-5-401, Idaho Code, shall retain records for ten (10) years after the later of the date the report was filed or the last date a timely report was due to be filed, unless a shorter period is provided by rule of the administrator. The holder may satisfy the requirement to retain records under this section through an agent. The records must contain:
(1) The information required to be included in the report;(2) The date, place, and nature of the circumstances that gave rise to the property right;(3) The amount or value of the property;(4) The last address of the apparent owner, if known to the holder;(5) Working papers documenting items considered for reporting that were not ultimately determined to represent unclaimed property, to allow examination to determine whether the holder has complied with this chapter;(6) If the holder sells, issues, or provides to others for sale or issue in this state traveler's checks, money orders, or similar instruments, other than third-party bank checks, on which the holder is directly liable, a record of the instruments while they remain outstanding indicating the state and date of issue;(7) Deductions for service charges incurred after the report date;(8) Interest accruing on reportable amounts or contracts providing for the cessation of such interest; and(9) Notices sent pursuant to section 14-5-501, Idaho Code, that have been signed by the apparent owner and returned to the holder.Added by 2024 Session Laws, ch. 27,sec. 2, eff. 7/1/2024.