The IRS states that records may be kept as hard copies or in electronic form.
If records are maintained electronically, they must meet the requirements set by the IRS, which include:
•The system must contain all of the information that the issuer’s physical books and records contain.
•The issuer must have a program set up to ensure the system is reliable and can prevent any unauthorized manipulation of the stored information.
•The system must be inspected and evaluated regularly.
•The system must be able to produce hard copies that are read