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| Important: Please route this briefing to the person responsible for record retention. | |
Have you checked out the Record Retention State Availability Map?
Click on the graphic to access the larger map, where you can see at a glance, the status of State/Federal Schedule availability or what is coming soon. Just mouse-over your state. If you haven't yet subscribed, Get Some Wisdom Straight from a Guru Record Retention can be confusing, you may not always know the answers, and that's where you have a great advantage as a subscriber: you can ask direct questions of Record Retention Guru Carolyn Jones. For example, here is a question put to Carolyn recently: Record retention varies for documents in different areas of the bank. Do I understand correctly that all record retention guidelines are suggested best practice and not regulation? We scan documents, but don't destroy originals while an account is still open. Once an account is closed, however, will scanned documents suffice for the required retention period so we can destroy the originals?  Carolyn responds: No, many statutes and regulations have very definitive retention periods. The only time an opinion (or best practice) is used is when a record is not defined in the law or the record falls under the "umbrella" of a law. Scanned documents are considered the original once committed to the medium whether a file is open or not. You may destroy the original documents once you are confident that good images are available. Record Retention Announces ... the FRC Record Center Carolyn Jones, founder of Record Retention Online and President of Financial Records Consultants, has made a software package available that will help you track and manage your records in an organized, straightforward way. It is called FRC Record Center. This is the tool you need to always maintain compliance with federal laws and regulations for all of your stored records. Reports, customization and a powerful search utility that allows wildcard searches and date-range searches allow you to view your records one at a time or in a table. You can retrieve exactly the records you need for your reports. A normal demo takes about 45 minutes. You can join and exit the demo at any time. No more than 5 people will be attending any one demo. It costs nothing. You will not be charged anything and you are under no obligation to purchase anything. Join a Demo and see for yourself. You'll be glad you did!
From our Users.... As a record retention fanatic for more than 20 years, I find RRO to be the best, most comprehensive resource I have ever used. Can't and won't do without it!
– Cheryl Kays, Perkins State Bank Record Retention Online is a valuable research tool. It is by far the quickest and easiest way to find retention requirements on both the state and federal levels.– Mitsy Sullivan, VP/Compliance Officer, BSA Officer, Bank of Ruston Record Retention Online is great! It is very user friendly and easy to find documents. If I ever have a question regarding retention, I just send an email through the website and know I will get a quick response. – Kelly Brown, VP and Compliance Officer, High Point Bank Record retention online has been an important tool in researching retention dates for our bank. It is nice to have a centralized website that I can go to and make sure that our retention dates are accurate. In the banking industry record retention online is a valuable asset.– Corey Drummond, Great Southern Bank |
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