Do you know how long you need to keep documents at your bank? State and federal law dictate retention periods depending on the document. Records are often required to be retained under more than one authority. If you have a question about record retention, the Iowa Bankers Association has a comprehensive Record Retention Manual that covers documents from Christmas Club, HMDA, personnel files, trust, loan files and more.
The manual provides information on how long to retain the document, as well as supporting information from state or federal code. The manual is in the “members only” section of the IBA website, so you will need to use your login information. If you do not have one and you are an IBA member, it is easy to sign up!