Wisconsin Statutes 177.0404 – Retention of records by holder
Current as of: 2023 | Check for updates
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Terms Used In Wisconsin Statutes 177.0404
- Following: when used by way of reference to any statute section, means the section next following that in which the reference is made. See Wisconsin Statutes 990.01
- Property: includes real and personal property. See Wisconsin Statutes 990.01
- State: when applied to states of the United States, includes the District of Columbia, the commonwealth of Puerto Rico and the several territories organized by Congress. See Wisconsin Statutes 990.01
(1) A holder required to file a report under s. 177.0401 shall retain records for 10 years after the later of the date on which the report was filed or the last date on which a timely report was due to be filed, unless a shorter period is prescribed by rule by the administrator.
(2) The holder may satisfy the requirement to retain records under this section through an agent.
(3) The records retained under this section shall include the following:
(a) The information required to be included in the report under s. 177.0401.
(b) The date, place, and nature of the circumstances that gave rise to the property right.
(c) The amount or value of the property.
(d) The last address of the apparent owner, if known to the holder.
(e) If the holder sells, issues, or provides to others for sale or issue in this state traveler’s checks, money orders, or similar instruments, other than 3rd-party bank checks, on which the holder is directly liable, a record of the instruments while they remain outstanding, indicating the state and date of issue.