Ohio Dealer Records

Ohio Dealer Records
All records must be maintained and easily accessible by anyone that holds a dealer license and by any person who held a license and
has since gone out of business. A.C. 4501:1-3-04

All records must be kept a minimum of 3 years. Federal law mandates some records be maintained for a period of five 5 years.

Ohio dealers are required to keep at minimum the following records, either via paper or electronically, for all vehicles, purchased, leased, and
sold:

A Purchase Agreement for each vehicle sold, which includes a description of the vehicle, the name and address of the purchaser, the sales price, the odometer reading, and the Ohio dealer's permit number
Front and back copies of each title
Name and address of previous owner
Vehicle Identification Number
Title number, county, and state
Year and make of vehicle
Any lease, installment, or security agreements
Odometer disclosure statement for each vehicle
Out of State Inspection for vehicles with out of state titles
Power of Attorney
Dealer Assignment
Record of temporary tags sold on each vehicle
If temporary tag has been placed on the vehicle, purchaser signed document stating that the purchaser has not been issued previously during the current registration year a license plate that could legally be transferred to the vehicle

Ohio dealers are also required, at minimum, to maintain the following
documents at the licensed location:

Original Ohio Motor Vehicle Dealer License (displayed prominently)
List of Licensed Salespersons
List of Temporary Tags Sold
I-9 Employment Eligibility Forms
Any local licenses required by county or municipalities where dealership is located

When selling a vehicle be sure to complete and store copies of each of the
following documents at minimum:

Retail Contract Agreement
Any lease, installment, or security agreements
Front and back copy of old title
Ohio dometer disclosure statement (form BMV 3724)
Out of State Inspection for vehicles with out of state titles
Dealer Assignment Title Application (form BMV 3772)
If using title application on back of title instead of Dealer Assignment
form BMV 3772, then separate notarized Power of Attorney (form
BMV 3771)
Sales tax exemption form if sale is exempt from sales tax (this
includes out of state buyers when not sales tax is collected)
Notarized minor consent form is customer is under 18 (form BMV
3751)
The dealer copy of the temporary tag application, signed by the
purchaser
Federal Trade Commission Buyers Guide
Any additional documents required by local Clerk of Courts including
customized forms that may be preferred by your Clerk of Court
Any additional documents advised to be kept by your attorney
In addition to the records required to be maintained under Ohio law you are
also required to maintain, at minimum, the following records under Federal law for a period of 5 years:
Copies of Federal Trade Commission Buyers Guide for each vehicle
sold
Copies of cash reporting IRS Form 8300 if applicable
Odometer disclosure statements for vehicles not covered under Ohio laws
Written Federal Trade Commission Red Flags Rule policy
Copies of any forms related to Truth in Lending Act, Equal Credit
Opportunity Act, or Gramm Leach Bliley Privacy Act
OFAC filings
Be sure to make front and back copies of the title of every vehicle
you purchase.

All records shall be available for reasonable inspection by
the Ohio Bureau of Motor Vehicles within ten business days of the request.
The Ohio Motor Vehicle Dealer's Board may issue a subpoena
if the records are not produced for inspection within ten
business days of the request