Under EAR, records must be retained for how long from the latest termination of the transaction?

Under the Export Administration Regulations (EAR), there is a specific record retention requirement that mandates retaining records for five years from the latest termination of the transaction. This period is crucial because it ensures that agencies have access to relevant documentation in case of audits or investigations that might arise after transactions involving controlled goods or technology. The five-year duration allows for sufficient oversight and compliance checks while balancing the burden of record-keeping on exporters.

Understanding this retention period is important for organizations engaged in activities that fall under EAR, as it helps them maintain compliance with federal regulations and avoid potential penalties for insufficient record retention. This aligns with the broader regulatory framework that emphasizes accountability in the trading of sensitive goods and services.