How long must a Illinois landlord keep records of the security deposit?

Illinois landlords should keep deposit-related records for at least the statute of limitations period for a deposit dispute, typically 4 to 6 years depending on the state. This includes the original deposit receipt, the itemized statement at move-out, any invoices supporting deductions, photographs of the unit at move-in and move-out, and the move-in inspection checklist. After the statutory deadline (30 days under 765 ILCS 710) for returning the deposit has passed, the records are the landlord's defense if the tenant later sues. Without records, the landlord typically loses any contested deduction. Cloud-stored, dated records are best practice. Up to 2x the deposit amount if the landlord acts in bad faith under 765 ILCS 710.

Source: 765 ILCS 710