AGENCY: Department of Financial Institutions

SERIES: 10187
TITLE: Charter Thrift and Loan federal and state reporting records
DATES: 1980-1992.
ARRANGEMENT: Chronological

DESCRIPTION: These records are created by the thrift to report to the Internal Revenue Service (IRS) and Social Security Administration corporate tax information. These records include IRS Forms W-2P, 1099-R, 1099-A, 1099-MISC, 1098, and 1120 (U.S._Corporation Income Tax Return). Information includes name of institution, address, total assets, net gain or loss, deductions, and taxable income.

RETENTION

DISPOSITION

RETENTION AND DISPOSITION AUTHORIZATION

These records are in Archives' permanent custody.

APPROVED: 09/1992

FORMAT MANAGEMENT

Paper: Retain in Office until liquidation is complete and then transfer to State Records Center. Retain in State Records Center for 7 years and then destroy provided all audit requirements have been met.

APPRAISAL

Fiscal

This disposition is based on 26 CFR 1.6001.1 (1989), which relates to persons subject to income tax. There are no clear federal retention requirements, but a "claim for credit or refund relating to bad debts or losses on securities" usually must be filed within 7 years.

PRIMARY DESIGNATION

Private

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