Three years
Correct Procedure: A licensed broker must retain for three years copies of all listings, deposit receipts, canceled checks, trust account records, and other documents executed by or obtained by the broker in connection with any transaction for which a license is required.
What does Florida Statute 475.23 require a real estate licensee to do upon changing employing brokers?
Terms Used In Florida Statutes 475.23
475.451 changes its business address, or a sales associate working for a broker or an instructor working for a real estate school changes employer. The licensee shall notify the commission of the change no later than 10 days after the change, on a form provided by the commission.
What is the minimum length of time you should maintain paper and electronic copies of transactional documents?
While the IRS recommends keeping most records for only three years, it does state that some records must be kept longer. For example, if you're a small business owner or self-employed, records from a claim for a loss from bad debt or worthless securities should be kept for seven years.
How long must Louisiana brokerages keep copies of each signed agency disclosure?
Sponsored Licensee Records
Brokers must retain copies of any sponsorship agreements, employment contracts and termination paperwork for all their licensees for at least five years.
How long do you have to keep brokerage records?
Your brokerage firm is not required to keep such records indefinitely, so it's smart to hold onto this information yourself for at least three years after you've sold an investment. Copies of your federal and state tax returns going back seven years, along with supporting documentation.
How long does a broker have to keep records in Florida?
A broker is required to maintain legible records of all transactions, financial records, etc. for a period of five years. If any record has been subject to litigation or used as evidence, it must be maintained until at least two years after the litigation has concluded.