DOCUMENT

SUGGESTED RETENTION PERIOD

One Month

ATM printouts

After you balance your checkbook every month, throw away all ATM receipts.

One Year

Paycheck stubs

Once you have compared these with your W-2 form and annual Social Security statement, discard.

Medical bills

Keep all your medical records for the entire calendar year, until you file your tax return and can see whether they add up to enough for a deduction.  If you take a deduction, keep these records for three years after filing.

Utility bills

Discard after one year, unless you take the cost of utilities as a deduction (for a home office, for example); in that case, keep for three years after filing.

Cancelled checks

Keep for one year, unless needed for tax purposes, in which case keep for three years after filing.

Bank statements

Keep for one year, unless needed for tax purposes, in which case keep for three years after filing.

Credit card receipts

Keep for one year, unless needed for tax purposes, in which case keep for three years after filing.

Quarterly investment statements

Hold on to these until after you have compared them to your annual statement, then discard.  Hold your annual statement for three years after the sale of any investment.

Three Years

Cancelled insurance policies

Keep for three years.

Records of selling a house

Keep for three years.  You will also need home-sale records as documentation for any capital gains tax.

Home improvement records

Hold for at least three years after filing the tax return that includes the income or loss on the asset (your home) when it’s sold.

Record of selling a stock

Keep for at least three years as documentation for any capital gains or capital loss on your tax return.

Annual investment statement

Keep for three years after you sell any investment.

Records of withdrawing

Keep for three years records relating to money received from a retirement account.

Seven Years

Records of satisfied loans

Keep for seven years.

Keep While Active

Sales receipts

Keep until warranty expires, until you can no longer return or exchange the item purchased, or (if needed for tax purposes) for three years.

Disputed bills

Keep the bill until the dispute has been resolved.

Titles (of home, auto, boat, etc.)

Keep until you sell and transfer title.

Other property records

Keep while active.

Certificates of deposit

Keep until CDs are cashed in.

Stock certificates

Keep while active.

Disability insurance policy

Keep while active.

Auto insurance policy

Up to the limit of your state’s statute of limitations for liability, in case of late claims.

Homeowner’s insurance

Up to the limit of you state’s statute of policy limitations for liability, in case of late claims.

Health insurance policy

Keep while active.

Other insurance documents

Keep while active.

Loan agreements

Keep until loan has been fully paid and proof of payment has been received.

Child support orders

Keep until the child reaches age 21.

Contracts

Keep while active.

Retirement plan records

Keep while active; also keep statements.

Keep Forever

Adoption certificate                        Domestic partner registration              Records of paid mortgages

Birth certificate                               Durable power of attorney                   Revocable living trust

Citizenship papers                          Marriage certificate                             Social Security card

Death certificate                             Passports                                               Wills

Divorce decree