‚Äč

How Long Do Banks Keep Account Records?

Answer

Permanently. There is no statute of limitations for how long banks have to retain account monies. Accounts become dormant when banks have reason to believe the accountholder address they hold is no longer current - perhaps because they have had returned post or there has been no activity on the account.
Q&A Related to "How Long Do Banks Keep Account Records?"
Federal retention laws state that a bank must keep financial records for any account with a balance of $100 or more for at least five years. The bank may decide to keep records longer
http://www.ehow.com/facts_7243905_long-keep-person...
Some banks keep personal records permanently on file but they can only report to a CRA up to 7 years.
http://wiki.answers.com/Q/How_long_does_a_bank_hav...
Just change your address, and make sure you do at least one transaction per year so they don't consider the account to be abandoned. Although US banks are reluctant to open an account
http://www.quora.com/How-does-one-keep-US-based-ba...
Banks keep account records for seven years. They should be able to search by account number, tax identification number, or Social Security number. Abandoned accounts are escheated
http://answers.yahoo.com/question/index?qid=200808...
Explore this Topic
Banks must keep records on checking and savings accounts for at least six years after last activity. These record-retention requirements apply to personal bank ...
In the UK, you can keep account records for a minimum of six years, although other companies keep the records permanently. These are vital records in a company ...
Different accounting records have different statutory limits determining how long they can be kept. Generally, documents relating to VAT should be kept for at ...
About -  Privacy -  Your Cookie Choices  -  Careers -  About P.G. Wodehouse -  Articles -  Help -  Feedback © 2014 IAC Search & Media