How long must a bank legally keep account records?

Question

I closed an account at B of A a couple years ago and now need to verify that the account is closed. They claim that they have no record of the account even after they are given the account number.

Answer 1

According to Title 31 the bank must retain records for five year.  If you are talking with a branch they might not have the records.  But they must be kept at the main center for 5 years.  Talk to some one at headquarters.  Mention the title 31 requirment and say if you can't verify the information you will notify FDIC.  

Answer 2

Banks keep account records for seven years.  They should be able to search by account number, tax identification number, or Social Security number.

Abandoned accounts are escheated to the state as unclaimed property after three years, depending on the state.  If the account was closed by the owner, the bank should be able to pull those records.

Be certain the account number and any other identifying information you provide is accurate.