How long must handlers keep receipts?

• A. 1 year
• B. 2 years
• C. 3 years
• D. 4 years

Answer: (B)

Handlers must keep receipts for a minimum of two years as part of compliance with regulatory requirements. This retention period ensures that there is a verifiable record of transactions related to commodities handling, which is essential for maintaining transparency and accountability in the supply chain.

Keeping receipts for two years allows regulators and auditors to review transaction histories, verify compliance with industry standards, and ensure that all financial records align with reported data. This period strikes a balance between the need for thorough documentation and the logistical feasibility for handlers to store records without retaining them excessively long, which could create burdensome storage and management concerns.

In certain industries or under specific regulations, longer retention periods might be required, but two years is the standard timeframe that supports due diligence and operational integrity.