Records to be made and retained by financial institutions (31 CFR 1010.410 and 31 CFR 1022.420)

Each financial institution must retain an original or copy of records related to extensions of credit in excess of $10,000 (other than those secured by real property), and records related to transfers of funds, currency, other monetary instruments, checks, investment securities, or credit of more than $10,000 to or from the United States (31 CFR 1010.410(a)-(d)). Banks and non-bank financial institutions must also maintain records related to, and include certain information as part of, funds transfers or transmittals of funds involving more than $3,000 (31 CFR 1010.410(e)-(f)). In addition, under 31 CFR 1022.420, each provider or seller of prepaid access is required to maintain access to transactional records generated in the ordinary course of business that would be needed to reconstruct prepaid access activation, loads, reloads, purchases, withdrawals, transfers, or other prepaid-related transactions.

The latest form for Records to be made and retained by financial institutions (31 CFR 1010.410 and 31 CFR 1022.420) expires 2028-01-31 and can be found here.

Records to be made and retained by financial institutions that are not agent MSBs 31 CFR 1010.410(a)-(c)

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