Individuals
Keep One Year
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While it's important to keep year-end mutual fund and IRA contribution statements forever, you don't have to save monthly and quarterly statements once the year-end statement has arrived.
Keep Three Years
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Credit Card Statements
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Medical Bills (in case of insurance disputes)
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Utility Records
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Expired Insurance Policies
Keep Six Years
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Supporting Documents For Tax Returns
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Accident Reports and Claims
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Medical Bills (if tax-related)
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Property Records / Improvement Receipts
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Sales Receipts
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Wage Garnishments
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Other Tax-Related Bills
Keep Permanently
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CPA Audit Reports
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Legal Records
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Important Correspondence
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Income Tax Returns
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Income Tax Payment Checks
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Investment Trade Confirmations
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Retirement and Pension Records
Special Circumstances
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Car Records (keep until the car is sold)
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Credit Card Receipts (keep until verified on your statement)
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Insurance Policies (keep for the life of the policy)
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Mortgages / Deeds / Leases (keep 6 years beyond the agreement)
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Pay Stubs (keep until reconciled with your W-2)
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Property Records / improvement receipts (keep until property sold)
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Sales Receipts (keep for life of the warranty)
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Stock and Bond Records (keep for 6 years beyond selling)
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Warranties and Instructions (keep for the life of the product)
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Other Bills (keep until payment is verified on the next bill)
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Depreciation Schedules and Other Capital Asset Records (keep for 3 years after the tax life of the asset)