Section 3.02.010. Retention or destruction of records.

    (a)  The following is the retention schedule for Alaskan banks: 
 Key to Abbreviations 
P.S. or Opt.       -   Purpose Served or Optional 
D                  -   Destroy 
Months             -   Figure with "mos." 
Years              -   Figures 
Permanently        -   P 
 I. ADMINISTRATIVE 
MINUTE BOOKS 
     Minute books of directors', executive committees', stockholders', 
and other meetings .........................................................P 
AUDITING AND ACCOUNTING 
    Accrual records ........................................................1 
    Audit copy of debits and credits to loans and discounts ................1 
    Audit work papers ......................................................3 
    Bank call reports ......................................................5 
    Bank examiner's reports ...............................................10 
    Budget work sheets ..................................................Opt. 
    Daily reserve computations .............................................2 
    Difference records .....................................................6 
    Earnings and dividends report .........................................10 
    Monthly reports to directors ...........................................P 
    Reports to executive committees .......................................10 
    Securities vault, in and out tickets ...................................3 
    Tax records .........................................................P.S. 
CAPITAL 
    Capital stock certificates, records or stubs ...........................P 
    Capital stock ledger ...................................................P 
    Capital stock transfer register ........................................P 
    Dividend checks .......................................................10 
    Dividend register .....................................................10 
    Proxies ................................................................2 
    Register of and cancelled certificates .................................P 
GENERAL LEDGER 
    Daily statement of condition ..........................................10 
    General journal ........................................................1 
    General ledger ........................................................10 
    General ledger tickets ................................................10 
INSURANCE RECORDS 
    Bankers' blanket bonds .................................................3 
    Expired policies .......................................................3 
    Records of policies in force ...........................................3 
     Schedule of fire and other policies, and record of payment of 
premiums and sums recovered ................................................3 
INVESTMENTS - BANK'S PORTFOLIO 
    Bond ledger ...........................................................10 
    Brokers' confirmations .................................................3 
    Brokers' statements ....................................................3 
    Descriptive literature on securities disposed of ....................Opt. 
    Buy and sell orders ....................................................3 
LOANS AND DISCOUNTS 
    Audit copy of debits and credits to loans and discounts ................1 
    Collateral cards ......................................................10 
    Collateral receipts ...................................................10 
    Collateral register ...................................................10 
    Collateral substitution slips (receipts) ..............................10 
    Credit files (closed) ...............................................Opt. 
    Daily reports .......................................................Opt. 
    Debit and credit tickets ..............................................10 
    Journal ...............................................................10 
    Liability ledger ......................................................10 
    Loan applications ...................................................Opt. 
    Loan committee minutes .................................................P 
    Margin cards ........................................................Opt. 
    Note or discount register .............................................10 
    Note or discount tickler ...............................................2 
    Resolutions (after loan is paid) .......................................6 
    Payment receipts .......................................................6 
PERSONNEL 
    Attendance record (after leaving service) inc. "hours worked" ..........5 
    Salary ledger ..........................................................5 
    Salary receipts ........................................................5 
    Records of employees: 
      Applications, reference records, reports and results of 
examinations, service record, efficiency tests, etc., after 
leaving service ...........................................................25 
 II. CASH 
DUE FROM BANKS 
    Advice from correspondents .............................................1 
    Affidavits or bonds of indemnity for duplicate drafts issued ..........10 
    Bank statements ........................................................2 
    Drafts ................................................................10 
    Draft register ........................................................10 
Reconcilements: 
        Domestic ...........................................................2 
        Foreign ............................................................5 
    Departmental or teller's proof sheets ..................................2 
PROOF OF CLEARINGS 
     Clearinghouse settlement sheets ..................................3 mos. 
    Deposit proof sheets or tapes ..........................................1 
    In-clearing proof sheets ...............................................1 
    In-clearing tapes ......................................................1 
    Out-clearing proof sheets ..............................................1 
    Clearinghouse settlement checks .......................................10 
TELLERS 
    Cash item record .......................................................2 
    Cash item register .....................................................2 
    Receipts for return items ..............................................1 
    Return item carbons ....................................................1 
    Teller's cash books .................................................Opt. 
    Teller's cash tickets, orig. and carbon ................................1 
    Teller's recapitulation (with general ledger tickets) .................10 
    Teller's scratch sheet or blotter ......................................3 
TRANSIT 
    Outgoing cash letters ..................................................1 
    Proof sheets ...........................................................1 
INTERNATIONAL 
    Daily debits and credits ...............................................7 
    Acceptances - foreign exchange ........................................10 
    Acceptances purchased books ...........................................10 
    Advice checks drawn for our accounts ...................................7 
    Application for postal registration ....................................7 
    Cable copies ...........................................................7 
    Cable orders ...........................................................7 
    Miscellaneous checks and drafts ........................................7 
    Collateral records .....................................................7 
    Collections ............................................................7 
    Correspondence .........................................................7 
    Receipts for cash payments and securities delivered ....................7 
    Department record of checks and drafts drawn ...........................7 
    Draft requisitions .....................................................7 
    Paid foreign drafts ....................................................7 
    Record of foreign exchange bought and sold .............................7 
     Federal reserve reports - monthly report re: foreign 
exchange position ..........................................................7 
    Letters of credit registers ............................................7 
    Letters of credit dead .................................................7 
    Letters of credit issued ...............................................7 
    Incoming payments ......................................................7 
    Mail transfers .........................................................P 
    Individual liability cards .............................................7 
    Paid credits ...........................................................7 
    Money order requisitions ...............................................2 
    Preliminary contracts ..................................................7 
    Remittances ............................................................7 
    Bills of exchange ......................................................7 
    Purchase and sales contracts (cancelled) ...............................7 
    Foreign drafts issued - register ......................................10 
    Telegraph code book ....................................................P 
    Traveler's letter of credit guarantee ..................................7 
    Teller's blotter .......................................................3 
    Contracts and contract cards ...........................................7 
    Departmental settlement sheets .........................................1 
    Foreign exchange remittance sheets or books ............................7 
SAVINGS ACCOUNTS 
    Deposits ...............................................................7 
    Journals ...............................................................1 
    Ledger cards or sheets .................................................7 
    Control journal tapes ...............................................Opt. 
    Window bookkeeping machine control tapes ............................Opt. 
    Reports of accounts opened and closed ...............................Opt. 
    Resolution (after closed) ..............................................7 
    Signature cards (after closed) .........................................7 
    Signatures of power of attorney ........................................7 
     Trial balances ...................................................3 mos. 
    Affidavits on lost passbooks P/B .......................................7 
    Withdrawal ............................................................7* 
    Work sheets interest on time accounts ...............................Opt. 
    Editor's note:* Unless returned to cus- 
tomer after microfilming. 
 III. DEPOSITS 
ACCOUNT ANALYSIS 
    Analysis work sheets or cards .......................................Opt. 
    Average balance cards ...............................................Opt. 
    Interest computation records ........................................Opt. 
    Service charge records ..............................................Opt. 
BANK (DUE TO) DEPOSITS 
    Advice of debit and credit, and memo entries ........................Opt. 
    Cash letters ...........................................................1 
    Cash letters for remittance ............................................1 
    Copies of advices of deposit ........................................Opt. 
    Country bank ledger ...................................................10 
    Ledger journal .........................................................1 
    Reconcilements .........................................................1 
    Reports of accounts, opened and closed ..............................Opt. 
    Resolutions (after account closed) .....................................7 
    Signature cards (after account closed) .................................7 
     Trial balances ...................................................6 mos. 
CERTIFICATES OF DEPOSIT 
    Certificates (paid) ....................................................7 
    Ledger cards (paid) ....................................................7 
    Register (paid) ........................................................7 
COMMERCIAL DEPOSITS, INDIVIDUAL AND FIRM 
    Bookkeepers daily list of checks charged in total ......................1 
    Check book orders ...................................................Opt. 
    Copies of advices of deposit ...........................................1 
    Daily report of overdrafts .............................................1 
    Deposit tickets .......................................................7* 
    Duplicate deposit tickets ...........................................Opt. 
    Individual ledgers .....................................................7 
    Individual ledger journal ..............................................1 
    Reports of accounts opened and closed ...............................Opt. 
    Resolutions (after closing) ............................................7 
    Signature cards (after closing) ........................................7 
    Signatures of power of attorney (after closing) ........................7 
    Statement mailing order (after closing) ................................3 
    Statement receipt cards (after closing) ................................3 
    Statement stubs ........................................................7 
    Stop payment orders (after release) ....................................1 
    Trial balances .........................................................1 
    Unclaimed deposits .....................................................P 
    Undelivered statements and cancelled checks ............................7 
OFFICIAL CHECKS AND DRAFTS 
    Cashier's checks ......................................................10 
    Cashier's check register ..............................................10 
    Certified checks ......................................................10 
    Certified check register ..............................................10 
    Drafts ................................................................10 
    Draft stubs .........................................................Opt. 
    Draft register ........................................................10 
    Expense checks ........................................................10 
    Expense check register ................................................10 
    Expense vouchers ......................................................10 
    Letters of credit and documents .......................................10 
    Receipts for certified checks .........................................10 
    Requisitions ........................................................Opt. 
SAVINGS DEPOSITS 
    Deposit tickets .......................................................7* 
    Duplicate deposit tickets ...........................................Opt. 
    Journal ................................................................1 
    Ledger cards or sheets .................................................7 
    Control journal tapes ..................................................1 
    Passbooks (closed accounts) ............................................D 
    Reports of accounts opened and closed ...............................Opt. 
    Resolutions (after account closed) .....................................7 
    Signatures of powers of attorney .......................................7 
    Trial balances .........................................................1 
    Withdrawal receipts ....................................................7 
CHRISTMAS CLUB 
    Checks .................................................................7 
    Check register .........................................................7 
    Coupons (deposit ticket) ...............................................7 
     Journal ..........................................................3 mos. 
    Ledger cards or sheets .................................................7 
      (a) if paid by cash and receipt taken on card or sheet ...............7 
      (b) if paid by official check ........................................7 
    Signature cards (after closed) .........................................7 
    Trial balances .........................................................1 
    Withdrawal receipts ...................................................7* 
    * Editor's note: Unless returned to cus- 
tomer after microfilming. 
 IV. MISCELLANEOUS COLLECTIONS 
    Collection receipts, carbons of ........................................3 
    Collection register ....................................................3 
    Coupon cash letters, outgoing ..........................................3 
    Coupon envelopes ....................................................Opt.     Customers' file copies .................................................1 
    Incoming collection letters ............................................3 
    Installment contract or note records (after closing) ..................10 
CUSTOMER SERVICE 
    Brokers' confirmations .................................................1 
    Brokers' invoices ......................................................1 
    Brokers' statements ....................................................1 
    Escrow records (after closing) .........................................7 
    Safekeeping records and receipts ......................................10 
    Securities buy and sell orders .........................................7 
GENERAL 
    Affidavits ............................................................10 
    Applications for travelers' checks .....................................1 
    Attachments, garnishments ..............................................7 
    Attachment releases ....................................................7 
    Change of address orders ...............................................1 
    Code books (not returned) ..............................................D 
    Court order (after case closed) .......................................10 
    Court order memorandum record .........................................10 
    Death notices .......................................................Opt. 
    General correspondence .................................................3 
    Incoming mail envelopes .............................................Opt. 
    Night depository records ...............................................1 
    Paid bills, statements, and invoices ...................................1 
    Protest notices .....................................................Opt. 
    Receipts for check books ............................................Opt. 
    Receipts (ordinary) ....................................................7 
     Stenographers' note books and mechanical device records, 
and extra copies of letters .............................................Opt. 
    Telegrams, cable, and radiogram copies .................................3 
    Telegraphic transfer receipts and records ..............................3 
    Trust records ..........................................................1 
     Vault records, opening and closing ...............................6 mos. 
REGISTERED MAIL 
    Insurance declarations ..............................................Opt. 
    Marine insurance books ..............................................Opt. 
    Registered mail (incoming) record ......................................2 
    Registered mail (outgoing) record ......................................2 
    Return receipt cards ...................................................1 
SAFE DEPOSIT VAULT 
    Access tickets (after entry date) ......................................7 
    Leases or contracts (closed) ...........................................7 
    Storage receipts .......................................................3 
    Ledger record of account ...............................................3 
    Rent receipts ..........................................................1 
 V. UNITED STATES SAVINGS BOND 
United States Savings Bond stubs,                      As required in federal 
    Series E  ....................                      regulations. 
United States Savings Bond Series E                  As required in federal   
    applications  ....................                      regulations. 
          (Memo: Applications must show bond numbers.                         
                  File alphabetically by years).                              
 VI. DATA PROCESSING RECORDS 
TAPE AND DISK FILES 
Computer program tapes or disks - When a change is made, retain old tape or disk one month to verify program. 
Master file tape or disk - One day if backup is kept, until a Grandfather* if not. 
Sorted daily transaction tape or disk - One day if a print-out is made, until a Grandfather if not. 
Report tapes or disks - Until updated report has been verified for accuracy. 
MISCELLANEOUS DATA TAPES OR DISKS 
    New accounts - if print-outs are made daily, one day; until master is proven, if not. 
    Change of address - If print-outs are made daily, one day; until master is proven, if not. 
    Stop payment - If print-outs are made daily, one day; until master is proven, if not. 
OTHER MASTER FILES 
    Account history tapes - Until it is a Grandfather tape. Statistical tapes - Until it is a Grandfather tape. 
Original entry punch cards or cards punched by the computer - Two reporting periods of the information or two statement cycles. 
    Editor's note: Grandfather is a three-day-old tape or disk.   
   Grandfather - Monday 
   Father - Tuesday 
   Son - Wednesday  
	(b)  Any record required to be retained by a bank under (a) of this section may be retained on microfilm, microfiche, or in any other form that preserves a true and accurate reproduction of the original document.  

Authorities

06.05.005

Notes

Reference

3 AAC 04.900

Authority

AS 06.05.005(a)

History

Eff. 12/13/70, Register 36; am 1/10/94, Register 129