N.Y. Comp. Codes R. & Regs. tit. 9 § 298.16

Current through Register Vol. 46, No. 25, June 18, 2024

Section 298.16 - Records

(a) All official records of the SASP will be retained for a minimum period of three years, provided that in cases involving property subject to restrictions for more than two years, related records will be retained for one year beyond the specified period of restriction.

(b) In cases where property is in compliance status at the end of the period of restriction, the related records shall be retained for at least one year after the respective compliance case is officially closed.

(c) Records involving property with perpetual restriction must be retained in perpetuity.

Summary of "Periods of Restriction and Records Retention Requirements" for donable property.

Property Item	Period of Restriction (POR)	Records Retention after POR
1. Combat configured aircraft	Perpetuity	Perpetuity
2. Firearms	Perpetuity	Perpetuity
3. Non-combat aircraft	5 years	3 years
4. Vessels (50 feet or more in length)	5 years	3 years
5. Motor vehicles and items with acquisition costs of $5,000 or more	1 year plus additional State imposed restriction period (usually six months)	3 years
6. Other property less than $5,000	1 year	3 years
7. Foreign gifts	10 years	3 years

N.Y. Comp. Codes R. & Regs. Tit. 9 § 298.16