Ill. Admin. Code tit. 50 § 8100.1726

Current through Register Vol. 48, No. 52, December 27, 2024

Section 8100.1726 - Records to be Preserved

An independent escrowee shall preserve for at least three (3) years from the close of escrow:

a) all bank statements of the "trust" or "escrow" account;

b) all canceled checks drawn upon the "trust" or "escrow" account;

c) copies of bank deposit slips with reference to the "trust" or "escrow" account;

d) all additional records reflecting banking transactions with reference to the "trust" or "escrow" account, including copies of all receipts for funds transferred from interest-bearing accounts into the "trust" or "escrow" account;

e) the Statement of Account;

f) escrow instructions and amendments thereto; and

g) all additional records pertinent to the escrow transaction.

Ill. Admin. Code tit. 50, § 8100.1726