Re: 1098E Student Loan Interest Statement Record Retention

From: Keith Fitzsimmons (kfitzsim@kumc.edu)
Date: Fri Feb 01 2002 - 11:30:22 EST

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    >>> "Piper, Pat" <ppiper@ufl.edu> 01/30/02 01:53PM >>>
    Does anyone know what the record retention requirements are for
    1098Es? How long must schools retain copies...cite the federal regulation...

    Pat:
    I didn't see a response to the list, but our big ice storm this week knocked out about everything.

    IRS says to keep copies of information returns or be able to reconstruct the data for at least three years from the due date of the returns. The reference is Page GEN-8, Section H of 2001 General Instructions for forms 1099, 1098, 5498, and W-2G.

    I plan to keep mine for 5 years, but that's just my packrat nature.

    Hope this is useful.

    Keith Fitzsimmons
    Fees, Loans and ODAS
    KU Med Center

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