Question:
By Idaho law –
How long must our home owners association need to keep receipts of all monthly HOA dues? 5 years?
How long must the HOA association keep all maintenance records/receipts on our buildings? 7 years?
– Cindy
Answer:
Idaho HOA laws currently don’t address this. Section 30-30-1101 of the Idaho Nonprofit Corporation Act, though, states that a corporation shall “maintain appropriate accounting records” but does not specify a timeframe. That said, you should check your governing documents to see if any such requirements exist. If your documents are silent, it is common practice for HOAs to keep accounting records and receipts for at least four (4) years.
Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.
