Posted on 02/28/2018 3:34:29 PM PST by MNDude
I am involved in the lawsuit, and I have been needing bank records from 2010. It sounds like Banks only keep the records for six or seven years.
I'm curious if anyone has ever had experienced trying to obtain bank records older than 6 years and if they have had success. By the way, I am with Wells Fargo.
Going back ten years for bank records is a stretch, digital or not.
I am with Wells Fargo.
Good luck!
“”IRS only requires 7 years I think.””
For personal - with a caveat - 7 years AFTER filing is what our accountant told me! So you can’t count from years end if you file in April; add another year or you’d stretch it out even further if you had an extension and filed in October. The 7 years begins after that.
I have a lot of old returns I want to get rid of but I don’t want to burn up my shredder and don’t have a burn barrel...
No one gives a darn about your returns. Throw them out bit by bit.
I use a bank that claims to only hold records a few years.
I guess this is policy for all of them.
I requested some much older (I think 6 years ago) and they actually had them. It saved me a lot of grief but they really had no responsibility to have them so long.
I was very lucky.
The teller initially told me it wasn’t possible but i persisted with a sit down appt and they got back to me in a week with the docs.
POST OF THE DAY!!!
I hate Wells Fargo
Agreed, Checked with my banker (wife) and she suggested that they have the records, but you will need to pay to get them. Not all that much, though.
They are an outstanding bank. I have been with them 48 years. No problems.
I had used other banks before them with unsatisfactory results.
They are an outstanding bank.
They are excellent, if that helps you. LOL!
I’ve been with BofA for as long as you’ve been with WF.
They’ll still be my bank when I croak. LOL
Yeah, I was with them. They are trash. LOL!
IF the bank has his records, there is an hourly charge to TRY to find them.
“Keep records forever? Really? What happens when somebody dies? Suppose someone had a business, closed it, but nobody in the family knew anything of where records were? What if someone had no family, no children?”
It was a surprise to us! We had 12-14 boxes of corporate records that must be saved forever. They are in an attic in Texas. Whether they can be read in the future is another issue.
However, IF the IRS can catch you not reporting all your income, then the 3 year rule or 7 year rule is out the window. They can go back to your first day on the job.
From a business perspective you destroy anything you don't need beyond he normal IRS standard retention period as then they cannot ask you for it.
and what hapoened?
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