Corporate Records Retention Schedule
Function List
Introduction
The Corporate Records Retention Schedule is arranged in a two-level hierarchical structure or taxonomy. The first level is the "Function". Functions serve as broad categories which
assist in navigation of the retention schedule. Within each Function, "Record Types" are defined with a more detailed description. For the purposes of the retention schedule, Functions
are not meant to mirror organizational structure. Instead, they are intended survive organization changes and still maintain their validity, thereby eliminating the need for updates to the
schedule each time an organizational change occurs. Retention periods are assigned to each Record Type based on legal requirements and/or business need. All Records of the
Company, regardless of format, media, or mode of transmission, should be classified according to the Corporate Records Retention Schedule at the earliest point in the life cycle of the
record (preferably at creation).
Function Description
Accounting/Finance The systematic recording, reporting, and analysis of financial transactions. Includes all records that feed directly into the Financial Statements of the
Corporation, its affiliates or subsidiaries. Does not include records related to specific customer/client banking transactions or the filing of tax returns for the
corporation.
Administration Organizing and overseeing business operations from a management, coordination and/or oversight perspective. Includes records related to administrative
functions of both the holding company and affiliates/subsidiaries, as well as, records related Investor Relations.
Audit/Risk Independent review and examination of company systems and processes to assess accuracy, security, reliability, effectiveness and risk; and to ensure that
records and information retained by the company comply with company policies, laws and regulatory requirements. Includes records related to both internal
and external risk assessments, investigations, examinations, and audits.
Branch Banking Administration and operation of retail "brick and mortar" branch banking locations where customers can transact business face-to-face with bank employees
for most products and services offered by the bank and it's affiliate companies. Generally includes only records kept in the branch or forwarded to branch
operational support units for final disposition. Also includes records specifically related to Private Services which are created and maintained in branch
offices. Note that most records originated in branch offices will be filed under record types included in other functional categories such as Transaction
Processing, Investments, Trust.
Compliance Policies, processes and methodologies designed to facilitate compliance with Federal, State, and Local laws and regulatory requirements. Includes records
related to compliance policy generation, training and monitoring.
Corporate Records Records related to the actions of Boards of Directors, stock transactions, stockholder meetings, regulatory filings, and corporate transactions such as
acquisition or sale of corporate entities (e.g. Board of Directors Meeting Minutes).
Corporate Security Protection of the company's personnel, property and assets. Includes physical security and fraud investigation, but does not include security of electronically
stored information (see Information Technology).
Correspondent Banking Providing payment processing or other financial services to another financial institution.
Credit/Lending Providing credit products & services to individuals or businesses. Includes all records related to extending credit regardless of loan type (e.g. Mortgages,
bankcards, overdraft protection).
Deposit Accounts Records related to standard deposit products & services offered by the bank and not covered by other related functions. Does not include Private Services,
Transaction Processing, Treasury Management or Trust
Facilities Functions related to the maintenance, repair, safety, energy utilization, construction, and financing/leasing of any company office or facilities.
Human Resources The administration of all functions related to the management of Human Resources including recruitment, hiring, disciplinary action, performance
assessment, compensation, benefits, safety and training.
Information Technology The design, development, installation, security, implementation and maintenance of information systems and applications, both hardware and software.
Includes Business Continuity.
Corporate Records Retention Schedule
Function List
Insurance Coverage by contract binding a party to indemnify the company against specified loss in return for premiums paid. Includes all records related to insuring the
corporation's assets against loss due to the negligence of employees or service providers, accident, or natural disaster. Except for Workers' Compensation
Insurance Policies and Claim matters, this does not include employee benefits, which is under Human Resources.
International All products and services related to business conducted outside of the USA.
Investments Administration and operations related to the offering of non-banking investment products to clients. Includes records related to Broker/Dealer services,
Wealth Management services and general investment advice; but does not include Trust services.
Legal The management of all legal claims, suits or actions filed against or on behalf of the corporation, its affiliates or subsidiaries or to which the corporation, its
affiliates or subsidiaries are or could be a party. Records under this category should include but are not limited to legal opinions, records related to legal
administrative matters.
Marketing Actions/communications intended to promote or encourage the purchase or use of company offered products and services. Includes the community service
initiatives of the company.
Procurement Administration and operations related to the acquisition of goods and services for the corporation which are provided by third parties. Includes purchasing,
contract/service agreement negotiation and management, and vendor relationship management (e.g. Corporate Travel Records)
Tax All accounting records specifically related to the filing of Federal and State Tax Returns for the corporation, its affiliates, or subsidiaries
Transaction Processing All functions related to the high volume processing of payments transactions in check, draft or electronic format. Includes functions such as Proof, Check
Processing, Exceptions/Returns, Image Exchange, ACH and Wires.
Treasury Management Activities related to Treasury Management services including check clearing strategy and support for products and services intended to assist business
banking clients in efficiently managing cash and related activities. Includes customer contracts and records related to account reconciliation & analysis,
positive pay, controlled disbursement, remote electronic deposit services.
Trust Services offered to both individuals and business clients where the Corporation, its affiliates or subsidiaries act as trustee or fiduciary agent regarding trust
funds or estates through custodial arrangements, stock transfers or related services. Includes records related to both Corporate Trust and Personal Trust
products.
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Functional Area Record Code Record Type Description Retention Retention Start Event
(New) Period 5
(Years)
Original invoices paid or 'To be paid'. Examples: Expense
payments, vendor invoices, facilities bills, insurance premium
Accounting / Finance ACC-100 Accounts Payable payables, insurance company payables, account payable 6 After Fiscal Year-end 6
register, payables reports, AP posting, sale invoices, credit
memos, expense
All records related to payments received or expected to be
Accounting / Finance ACC-110 Accounts Receivable 6 After Fiscal Year-end 7
received. Examples: Cash receipts, invoices, AR posting.
Records related to monthly expense allocations to affiliate /
subsidiary cost centers from centralized support or shared
Accounting / Finance ACC-120 Allocations service cost centers. Includes: Facilities expenses to 3 After Fiscal Year-end 8
affiliates/subsidiary cost center, shared facilities expenses
where applicabl
Records generated from or produced for the Asset Liability
Asset Liability Committee. Examples: Minutes, agendas, memos, reports to
Accounting / Finance ACC-130 6 After Fiscal Year-end 9
Committee the committee, analysis reports, Zions ALCOM, ALCO
meeting materials.
Supporting material for budgets and forecasts.
Accounting / Finance ACC-140 Budget Files Examples: Prior year budgets, financial planning, worksheets, ACT+1 After Fiscal Year-end 10
work papers, appropriation file.
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Combined RRS Mapping
New to Old
Lower Case = New Record Type
Lower Case = Bank 1 Old Record Type
UPPER CASE = Bank 2 Old Record Type
No. Function Record Code Record Type Record Type Description Retention Retention Previous Previous
(New) (Old) Period Start Event Record Retention
(Years) Code Period
Original invoices paid or 'To be paid'. Examples: Expense
payments, vendor invoices, facilities bills, insurance premium
Accounting / After Fiscal
1 ACC-100 Accounts Payable payables, insurance company payables, account payable 6
Finance Year-end
register, payables reports, AP posting, sale invoices, credit
memos, expense
Accounts payable register Bank 1 5 years
Bills paid and invoices Bank 1 7 years
Expense reimbursements to employees Bank 1 3 years
ACCOUNTS PAYABLE ORIGINAL INVOICES PAID OR TO BE PAID FIN004 6
INVOICES FROM INSURANCE COMPANIES FOR PREMIUMS
COMPANY PAYABLE INVOICES INS008 120
DUE.
RECORD OF UNPAID ITEMS TO INSURANCE COMPANIES. IT
COMPANY PAYABLES REPORT IS A SYSTEM GENERATED REPORT MTD THAT CANNOT BE INS009 120
REPRODUCED.
CREDIT MEMOS / SALES INVOICES CREDIT MEMOS / SALES INVOICES FIN028 120
INVOICES RECEIVED BY FACILITIES AND FORMAL PAYMENT
FACILITIES EXPENSE PAYMENTS REQUEST PREPARED/SUBMITTED FOR PAYMENT MAINTAIN FAC016 120
BRANCH FILE COPY
Accounting / All records related to payments received or expected to be After Fiscal
2 ACC-110 Accounts Receivable 6
Finance received. Examples: Cash receipts, invoices, AR posting. Year-end
DETAIL TRANSACTION LIST OF ALL UNPAID/UNREFUNDED
INVOICES SORTED BY CLIENT ETC. THIS DETAIL IS USED TO
M/E ACCOUNTS RECEIVABLE INS020 120
SUPPORT THE A/R GL MONTHLY AND CANNOT BE
REPRODUCED AFTER THE M/E DATE.
Records related to monthly expense allocations to affiliate /
subsidiary cost centers from centralized support or shared
Accounting / After Fiscal
3 ACC-120 Allocations service cost centers. Includes: Facilities expenses to 3
Finance Year-end
affiliates/subsidiary cost center, shared facilities expenses
where applicabl
EXPENSE ALLOCATION FILE ELECTRONIC FILE OF EXPENSE ALLOCATION FOR ALL UNITS FAC015 120
(R-N)
VARIOUS MONTHLY ALLOCATIONS OF CENTRALIZED
ALLOCATIONS FIN007 120
SUPPORT OR SHARED SERVICE COST CENTER EXPENSE
Records generated from or produced for the Asset Liability
Accounting / Asset Liability Committee. Examples: Minutes, agendas, memos, reports to After Fiscal
4 ACC-130 6
Finance Committee the committee, analysis reports, Zions ALCOM, ALCO meeting Year-end
materials.
Asset/liability management records Bank 1 3 years
ALCOM REPORTS WEEKLY ASSET/LIABILITY COMMITTEE AGENDA REPORT ADM001 84
ANALYSIS REPORTS, ZIONS ALCO, MINUTES, REPORTS TO
ASSET LIABILITY COMMITTEE FIN010 9999
COMMITTEE, AGENDAS, AND MEMOS.
Supporting material for budgets and forecasts.
Accounting / After Fiscal
5 ACC-140 Budget Files Examples: Prior year budgets, financial planning, worksheets, ACT+1
Finance Year-end
work papers, appropriation file.
Budget reports Bank 1 2 years
SUPPORTING MATERIAL FOR BUDGETS AND FORECASTS,
BUDGET FILES FIN017 24
PRIOR YEARS' BUDGETS
FINANCIALS AND BUDGET SPREADSHEETS OF FINANCIALS AND BUDGET INFORMATION OPS071 36