Record Retention Guidelines

Document Retention Guidelines

Record Retention Guideline

*This is only a guideline. Please consult CPA for advice on your specific situation.

Keep till warranty expires or can no longer return or exchange

  • Sales Receipts
  • What to keep for 1 month
  • ATM Printouts and discard after balancing your checkbook
  • Utility Bills
  • Credit Card Receipts
  • Other monthly bills

What to keep for 1 year

  • Paycheck Stubs to compare to your W2 & annual social security statement
  • Bank Statements
  • Quarterly Investment Statements to compare to annual statement

What to keep for 3 years (7 years if self-employed)

  • Income Tax Returns
  • Receipts, and other Documents that Support Income or a Deduction on your
  • Tax Return
  • Medical Bills and Cancelled Insurance Policies
  • Records of Selling a HouseĀ for Capital Gains Tax
  • Records of Selling a Stock for Capital Gains Tax
  • Annual Investment Statement
  • Home Improvement Records for a sold asset

What to keep for 7 years

  • Records of Satisfied Loans
  • What to hold while active
  • Contracts
  • Insurance Documents
  • Stock Certificates
  • Property Records
  • Stock Records
  • Records of Pensions and Retirement Plans
  • Property Tax Records Disputed Bills
  • Keep Forever in a safe or safe deposit box
  • Marriage Licenses
  • Birth Certificates, Divorce Certificates, Death Certificates
  • Wills/Trusts
  • Adoption Papers
  • Passports
  • Auto Titles/Home Deeds and Real Estate Certificates
  • Insurance Policies
  • Stocks and Bond Certificates
  • Medical and Burial Directions, Power of Attorney forms

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