> I really, truly don't understand how any bank in the year 2022 can only give you 1 year of electronic access, but this is actually the case!
I suspect this is so they don't have to spend lots of time (without compensation) dealing with buckshot demands due to IRS audits. By the time your tax returns are audited, they've deleted all the statements relevant to the year being audited.
Obviously all the transaction data is still there in their computers, but I suspect that if it isn't accountholder-accessible it's easier for the bank to say "we're not dealing with you unless our regulator or a court says we have to". Either of those routes ensures the IRS has to waste roughly as much time/money as the bank does.
I suspect this is so they don't have to spend lots of time (without compensation) dealing with buckshot demands due to IRS audits. By the time your tax returns are audited, they've deleted all the statements relevant to the year being audited.
Obviously all the transaction data is still there in their computers, but I suspect that if it isn't accountholder-accessible it's easier for the bank to say "we're not dealing with you unless our regulator or a court says we have to". Either of those routes ensures the IRS has to waste roughly as much time/money as the bank does.