DOCUMENT |
RETENTION PERIOD |
| Bank Statements |
Three years |
| Canceled Checks |
Three years |
| Charitable Contributions |
Keep with applicable tax return |
| Credit Purchase Receipts |
Discard after purchase appears on credit card statement if not needed for warranties, merchandise returns or taxes |
| Credit Card Statements |
Discard after payment appears on credit card statement |
| Employee Business Expense Records |
Keep with applicable tax return |
| Health Insurance Policies |
Keep until policy expires, lapses or is replaced |
| Home & Property Insurance |
Keep until policy expires, lapses or is replaced |
| Income Tax Returns & Records |
Permanently |
| Investment Annual Statements & 1099's |
Keep with applicable tax return |
| Investment Sale & Purchase Confirmation Records |
Discard sale confirmation records when the transactions are correctly reflected on the monthly statement. Keep purchase confirmation records three to six years after investment is sold as evidence of cost |
| Life Insurance |
Keep until there is no chance of reinstatement. Discard premium receipts when notices reflect payment |
| Medical Records |
Permanently |
| Medical Expense Records |
Keep with applicable tax return if deducted |
| Military Papers |
Permanently (may be required for possible veteran's benefits) |
| Individual Retirement Account Records |
Permanently |
| Retirement Plan Statements |
Three to six years. Keep year-end statements permanently |
| Passports |
Until expiration |
| Pay Stubs |
One year. Discard all but final, cumulative pay stubs for the year |
| Personal Certificates (birth/death, marriage/divorce, religious ceremonies) |
Permanently |
| Real Estate Documents |
Keep three to six years after property has been disposed of and taxes have been paid |
| Residential Records (copies of purchase related documents, annual mortgage statements, receipts for improvements and copies of rental leases/receipts) |
Indefinitely |
| Social Security Statements |
Discard when current records of payments into the Social Security system are received |
| Warranties & Receipts |
Discard expired warranties. Use judgment when discarding receipts |
| Will |
Keep current Will permanently. Keep until rendered obsolete (by a new version) |
