To Keep or Not to Keep, That is the Question!

Documents to Keep Permanently

• Annual tax returns
• Year-end summaries from financial service companies
• Stock and bond certificates
• Deeds of property and ownership, auto titles, insurance policies
• Home improvement records
• Health records, wills and powers of attorney
• Birth certificates, adoption and custody records, death certificates

Documents to Keep Temporarily

• Keep paycheck stubs until reconciled with W-2 or 1099 forms
• Phone and utility bills for one year (seven if business-related)
• Monthly bank and credit card statements for one year
• Monthly mortgage statements for one year
• Brokerage/mutual fund statements until reconciled at year end
• Year end statements from credit card companies for seven years
• W-2 and 1099 forms for seven years
• Cancelled checks/receipts for tax-deductible items for seven years

Discard or Shred

• ATM, bank deposit slips and credit card receipts once reconciled
• Non-tax deductible receipts for minor purchases
• Old magazines and articles not read within the past six months
• Receipts, instructions and warranties for items you no longer own (or warranties that have expired)