Made available by Touch N' Go Systems, Inc., and the
Law Offices of James B. Gottstein.

You can also go to The Alaska Legal Resource Center or search the entire website search.

Touch N' Go, the DeskTop In-and-Out Board makes your office run smoother. Visit Touch N' Go's Website to see how.
Title 3 . Commerce, Community, and Economic Development
Chapter 2 . Land Sales
Section 10. Retention or destruction of records

3 AAC 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.

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

Authority: AS 06.05.005 (a)


Note to HTML Version:

The Alaska Administrative Code was automatically converted to HTML from a plain text format. Every effort has been made to ensure its accuracy, but neither Touch N' Go Systems nor the Law Offices of James B. Gottstein can be held responsible for any possible errors. This version of the Alaska Administrative Code is current through June, 2006.

If it is critical that the precise terms of the Alaska Administrative Code be known, it is recommended that more formal sources be consulted. Recent editions of the Alaska Administrative Journal may be obtained from the Alaska Lieutenant Governor's Office on the world wide web. If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful. Copyright 2006. Touch N' Go Systems, Inc. All Rights Reserved.

Last modified 7/05/2006