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Trying to get old bank statements from UK bank!

Trying to get old bank statements from UK bank!

Old Mar 16th 2018, 1:56 am
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Default Trying to get old bank statements from UK bank!

I am missing 2011 bank statements from a UK bank account that I closed last year. Somehow they were misplaced, (yes I am an idiot ) I called the bank twice and they said they can only order bank statements from the last 6 years. I want them in case I ever need them. I file F-Bars and have had to file form 8938 in the past.

Do banks not keep this info somewhere or is it deleted from their system, does anyone know? If I ever got audited and needed old bank statements what would happen if I cannot provide them?
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Old Mar 16th 2018, 2:06 am
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Default Re: Trying to get old bank statements from UK bank!

UK corporations are not legally required to keep records beyond six years*, .... so after that time they are generally destroyed.

Occasionally companies keep them longer, but there is no benefit to keeping them beyond the time that they are legally required, so I will pretty much guarantee that when your bank says they aren't available I would bet heavily on them having been destroyed.
Originally Posted by Faery View Post
.... If I ever got audited and needed old bank statements what would happen if I cannot provide them?
You can't be audited further bank than you are legally required to keep records, with the rare exception of if you are accused of fraud.

* There are a few exceptions to the 6 year requirement, such as after an insolvency the records have to be kept for 25 years.

Last edited by Pulaski; Mar 16th 2018 at 2:11 am.
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Old Mar 16th 2018, 3:27 am
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Default Re: Trying to get old bank statements from UK bank!

Thank you Pulaski! Out of interest, what would happen if you didn't have bank statements from anytime within the legal requirement to keep them and you were required to provide them for an audit?
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Old Mar 16th 2018, 7:34 pm
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Default Re: Trying to get old bank statements from UK bank!

Originally Posted by Faery View Post
Thank you Pulaski! Out of interest, what would happen if you didn't have bank statements from anytime within the legal requirement to keep them and you were required to provide them for an audit?
My UK bank does not supply me with printed statements, only online ones. So if I get an IRS audit they only get what my bank has online.
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Old Mar 16th 2018, 7:55 pm
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Default Re: Trying to get old bank statements from UK bank!

Originally Posted by Pulaski View Post
You can't be audited further bank than you are legally required to keep records, with the rare exception of if you are accused of fraud.

* There are a few exceptions to the 6 year requirement, such as after an insolvency the records have to be kept for 25 years.
True, but there are many circumstances where you may want older records, e.g. purchase of and improvements to capital assets etc.

My view is that it pays to be pedantic about record retention. So I retain anything relevant to my house, for example, as well as keeping supporting documents for tax returns longer than six years.
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