Annual Treasury Continuity Checklist for Offline Reserves

Twelve verification points founders should run through each year to keep cold storage continuity notes accurate and usable.

An offline treasury that was documented correctly at setup becomes inaccurate within a year — usually because someone changed roles, moved a device, or added a wallet without updating the records. This checklist is designed for founders to run through annually, or before any major corporate event.

Holder verification

  1. Confirm all named key holders are still in their roles. If a signer has departed, update the custody map before their last day, not after.
  2. Verify contact information. Phone numbers, email addresses, and timezone availability for each holder.
  3. Check geographic locations. Has anyone relocated? Does their seed fragment storage location still match the documentation?

Device and label audit

  1. Walk the device inventory. Physically verify every hardware wallet listed in documentation still exists and powers on.
  2. Match labels. Physical labels on devices must match digital records in spreadsheets and continuity notes.
  3. Test one signature. Authorize a minimal test transaction to confirm the signing workflow still functions as documented.

Storage and access

  1. Verify safe and vault access. Confirm safe deposit boxes are active, keys are accessible, and authorization letters are current.
  2. Review access conditions. Have any bank or vault policies changed? Do company authorization letters need renewal?
  3. Check emergency sheet locations. The one-page emergency summary should exist in at least two separate physical locations known to non-signer leadership.

Documentation freshness

  1. Read the recovery runbook aloud. Schedule a 30-minute session where a non-technical team member (e.g., a board observer) reads the runbook and flags anything unclear.
  2. Update board materials. If governance documents reference treasury procedures, ensure they point to current continuity notes.
  3. Archive superseded versions. Mark old documentation as archived with date stamps. Never delete — auditors may need the history.

When a full re-audit is warranted

If three or more checklist items fail, or if any key holder has changed without documentation update, commission a full treasury continuity audit rather than patching individual items.

Utilitylagoon offers quarterly continuity drill retainers for teams that prefer external facilitation of this annual process.

View rates for retainers or book a recovery planning session.