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Not necessarily, it depends on your backup requirements. If you need to be able to restore any of the snapshots for those 1825 days, then yes, you need to set a simple 1825-day retention policy. On the other hand, if say for each of the 5 years, your auditor only needs the snapshots on December 31 of each year, then you can make use of the "Advanced Retention Policy" feature, where you have options to keep yearly, quarterly, monthly, or daily snapshots. With this flexibility, you should be able to configure your required backup policy.
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