C.F.R. » Title 12 » CHAPTER I—COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY › PART 9—FIDUCIARY ACTIVITIES OF NATIONAL BANKS

12 C.F.R. § 9.8

Recordkeeping

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(a) Documentation of accounts. A national bank shall adequately document the establishment and termination of each fiduciary account and shall maintain adequate records for all fiduciary accounts.

(b) Retention of records. A national bank shall retain records described in paragraph (a) of this section for a period of three years from the later of the termination of the account or the termination of any litigation relating to the account.

(c) Separation of records. A national bank shall ensure that records described in paragraph (a) of this section are separate and distinct from other records of the bank.

Notes of Decisions
Cited in 1 case, 1975–1975 · leading case: First Nat'l Bank v. Comm'r, 64 T.C. 1001 (Tax Ct. 1975).
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First Nat'l Bank v. Comm'r, 64 T.C. 1001 (Tax Ct. 1975). · cites it 4× “Unless otherwise indicated, all statutory references are to the Internal Revenue Code of 1954, as amended.”
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