Steel storage racks are structures commonly used by all industries in Chile; nevertheless, due the seismic hazard in the country and its configurations, these structures are highly vulnerable to earthquakes and no specific regulations exist to design them. In this research, the seismic performance of steel storage racks subjected to Chilean Earthquakes was evaluated using nonlinear pushover and nonlinear dynamic analysis. The studied models consider different heights and global slenderness ratios in both directions and soil types. Racks were evaluated using an Incremental Dynamic Analysis (IDA) according to FEMA P695. Deformation values were exceeded in the down-aisle direction and the use of braces was necessary to control the interstory drift and high deformation levels. Also, the expected level of damage for drift design limits in models unbracing is not enough to keep the operation of the structures and more severe regulations are necessary to achieve a performance in agreement with Chilean design philosophy. Finally, the use of horizontal and lateral bracing improves the seismic performance of steel racks.