All USB records will be retained pursuant to the applicable Retention Period identified in the table below.
- Definition: “Record(s)” means any document, whether in physical or electronic form, that is generated or received by USB in connection with its operations.
- Records Screening Process:
- Records relevant to any pending litigation and/or legal action shall not be destroyed. Any questions regarding those Records shall be forwarded to USB’s Senior Vice President of Governance and Compliance.
- Records shall be immediately disposed of that:
- do not fall within a Record Classification
- are no longer required
- have satisfied their required Retention Period
- Email and other electronic Records may fall into various Record Classifications and should be treated accordingly (i.e., subject to the longest retention period when multiple Record Classifications are applicable).
- Drafts and duplicates of any Record shall be disposed of once the final Record is retained.
- Templates used to create any Record may be maintained indefinitely but shall be disposed of once a new template is created.
- Storage: Records shall be stored in a safe, secure location and protected from environmental and other potential harm.
- Disposal: Record review and disposal shall be conducted in March of each year.
|Retention Period||Record Classification|
|Permanent (electronic only after 5 years)||
|7 Fiscal Years (after the fiscal year the Record was originated or acquired)||