To record: 

In a Teams meeting, one person can record at a time. When you start recording a meeting, everyone will be notified automatically. You can also turn on live transcriptions and view them during the meeting.

To start a meeting recording:

1. Start or join the meeting.

2. In your meeting controls, select More actions  > Record and transcribe  > Start recording  .

To access your recording:

Recordings are available in different places depending on the type of meeting.

• The recording is processed and saved in the meeting organizer's OneDrive for Business on the My Files > Recordings Tab.

• The meeting recording shows up in the meeting chat or channel conversation (if you’re meeting in a channel).

Note that the Default Policy applied to all Recordings is that they expire and are deleted after 120 days.

This can be changed manually per recording by the recording owner: Managing Your Recording Expiration Dates

For a comprehensive list of all features and the most up to date instructions: Record a Meeting in Microsoft Teams