ACH/Ebanking Reports & Records Retention

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Question:

How long do we need to retain ACH/electronic banking reports and records?

Answer:

Reg E has a two year record retention requirement. Section 205.13. If it is not relating to Reg E requirements, the Bank Secrecy Act rules could be applicable: 31 CFR 103 These require a five year retention.

First published on BankersOnline.com 2/04/08