(1) For each tax year in which a taxpayer claims a subtraction or exemption under ORS 316.798, the taxpayer shall maintain the records described in subsection (2) of this section, and any other records as required by the Department of Revenue under ORS 316.796 to 316.808. (2) A taxpayer shall maintain, and shall furnish to the department upon the request of the department, the following: (a) Account statements that show the contributions made during the tax year and the taxable interest or earnings on the account in the tax year for which the subtraction or exemption is claimed; (b) The information return issued by the financial institution for the account for the tax year for which the subtraction or exemption is claimed; and (c) Upon a withdrawal of funds from a first-time home buyer savings account, a copy of the real estate settlement statement demonstrating that the withdrawal was used for eligible costs.
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