Can anyone tell me how long we have to retain the Safe Deposit Box Access slips? Is there guidance in the NJ Statutes or NJBA?

How about 6 years?

I looked through Chapter 26, Subchapter 1 Destruction and Retention of Records, and did not find any mention of safe deposit access slips.

Hi Guys -- I haven't checked in for awhile .. I will be attending a safe deposit box seminar tomorrow focusing on risk-rating and BSA issues -- I will try to remember to ask the question regarding access slip retention.

Hi - I'm Back

According to the New Jersey State Safe Deposit Association they gave two answers and essentially pick the one your comfortable with. In both cases the rention period begins AFTER the box is closed. Therefore and as an example - if you have had renter for 10 years -- you would need to keep all tickets for 17 years. Ugh!

According to the organization: Federal law is 7 years AFTER the box closes.

The recommended NJ State law to be followed is the same as your record retention for withdrawal slips AFTER the box closes. The thinking here is accessing a box is the same as making a withdrawal.

Hope this helps..

And the answere is....7 years after the date of closing the box? Correct?

Yes