Individual Records Document Retention Period
Bank Statements – Three years, unless needed for tax records
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 or until pending claims are fully paid
Home & Property Insurance – Keep until policy expires, lapses or is replaced or until pending claims are fully paid
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
Wills – Keep current Will permanently or until rendered obsolete (by a new version)
