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Retaining Call Report Workpapers

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Question: 
Is there a record retention period for Call Report workpapers?
Answer: 

If not specifically addressed at the State level, here are the retention periods out of the call report instructions:

RETENTION OF REPORTS
In general, a bank should maintain in its files a signed and attested record of its completed Call Report, including any amended reports, and the related workpapers and supporting documentation1 for five years after the report date, unless any applicable state requirements mandate a longer retention period. This five-year time period is consistent with the time period specified in Section 7(b)(5) of the Federal Deposit Insurance Act, which provides that each insured depository institution shall maintain all records necessary for the FDIC to verify the correctness of its deposit insurance assessments for no more than five years from the date of filing any certified statement, except when there is a dispute between the insured depository institution and the FDIC over the amount of any assessment, in which case the depository institution shall retain the records until the final determination of the issue.

First published on 01/15/2023

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