Nebraska Administrative Code
Topic - BANKING AND FINANCE, DEPARTMENT OF
Title 45 - BANKING RULES
Chapter 5 - SCHEDULE FOR RETENTION OF RECORDS: BANKS EXERCISING TRUST POWERS AND TRUST COMPANIES
Section 45-5-006 - ALL OTHER FIDUCIARY RECORDS
Universal Citation: 45 NE Admin Rules and Regs ch 5 ยง 006
Current through March 20, 2024
006.01 Institutions must retain the following original records for six years after fulfillment of duties specified in the governing documents of individual accounts. After six years, the original document may be maintained electronically, provided the record, however maintained, is clearly readable or legible.
006.01A Advice of payments of bequests,
gifts, discretionary distributions, income distributions, scheduled payments,
or extraordinary payments requested by interested parties
006.01B Common Investment Fund (CIF) or
Common Trust Fund (CTF) records including annual reports, annual fund audits,
governing plan documents, and all terminations reports. Retention shall
continue six years beyond the date of termination of the CIF or CTF and full
payment of all investor share accounts.
006.01C Correspondence relative to the
administration of accounts
006.01D
Court orders issued regarding legal appointment, judgments, or other litigation
settlement and/or trustee requests for direction
006.01E Cremation/destruction certificates
regarding matured, redeemed, or cancelled corporate bond issue
certificates
006.01F Dividend
checks paid on corporate bond issue accounts
006.01G Escrow account records (including
payment schedules)
006.01H Final
accounting report for any fiduciary account
006.01I Legal opinions or other letters of
legal counsel pertaining to the administration of trust accounts
006.01J Real estate records
006.01K Safekeeping records relating to
assets held during course of account administration
006.01L Trust indentures and other
authorizing documents creating fiduciary relationships and/or limiting
authority of the named fiduciary
006.01M Wills of decedents who appointed the
bank or trust company as personal representative and/or trustee of subsequent
trust accounts created by the will
006.01N Worthless assets, including
documentation regarding determination of worthless status and distribution of
such assets in kind, if applicable
006.02 Institutions must retain the following records within individual account files until six years after accounts have been closed or terminated:
006.02A Accounting
records of individual fiduciary accounts
006.02B Administrative expenses charged to
and paid from individual account funds
006.02C Annual (or other periodic) reports
provided grantors/beneficiaries during administration of the account
006.02D Approvals of administrative action by
co-fiduciaries and third parties authorized to provide advice
006.02E Authorization of transactions by
co-fiduciaries and investment advisors
006.02F Bondholder records regarding
corporate bond issues over which the institution exercises trustee or agency
authority
006.02G Bond transfer
records for corporate bond issue accounts
006.02H Broker/dealer statements relating to
liquidation of assets for final distribution and/or re-registration of
securities for distributions in kind
006.02I Cash journals or ledgers reflecting
receipt and disposition of principal and income cash
006.02J Corporate bond issue accounting
records
006.02K Corporate bond
issue asset ledgers where fiduciary capacity included trustee or escrow agent
investment duties
006.02L Coupon
and/or Dividend collection records pertaining to assets held by
accounts
006.02M Employee benefit
plan account records (both as agent and trustee)
006.02N Indemnification agreements and surety
bonds in regard to lost, stolen, or misplaced certificates of corporate bond
issues for which the institution acted as trustee or agent
006.02O Keogh & IRA account records
(custodial accounts)
006.02P
Mortgage and loan collection records for individual accounts (when an asset of
the account)
006.02Q Mortgage and
loan payment records for individual accounts (when a liability of the account)
006.02R Original records and
documents pertaining to trust entries at the inception of accounts
006.02S Receipts for the exchange or
substitution of trust assets
006.02T
Rent and lease payment receipts for accounts holding income producing real or
personal property
006.02U Signature
files of authorized signatories for direction of accounts
006.02V Stock transfer ledgers where
institution is fiduciary for an equity stock issue
006.02W Stockholder records specifying
current stock ownership where institution is fiduciary for an equity stock
issue
Disclaimer: These regulations may not be the most recent version. Nebraska may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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