A broker must keep escrow records for at least:

6 months is insufficient to protect against potential claims or regulatory inquiries that may arise after closing transactions. This timeframe is well below the legally mandated requirement in Virginia.

1 year is still inadequate for Virginia's regulatory standards. Many potential issues, such as commission disputes or title problems, may surface beyond the first year after a transaction.

While longer retention periods are sometimes recommended for risk management purposes, Virginia law specifically requires only 3 years, making 5 years unnecessarily excessive for compliance purposes.