For Individuals

These Record Retention Guidelines provide a general guideline for the retention of many records, but the specific holding periods for any record retention policy should be given careful scrutiny by management and legal advisors in light of any pending investigators, regulated industry requirements or contract covenants.

  • Record Retention Guidelines
  • BANK STATEMENTS ~ Three Years
  • CANCELED CHECKS ~ Three Years
  • CHARITABLE CONTRIBUTIONS ~ Keep with applicable tax return
  • CREDIT CARD 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 REPORTS ~ Keep with applicable tax return.
  • HEALTH INSURANCE POLICIES ~ Keep until policy expires, lapses or is replaced.
  • HOME AND PROPERTY INSURANCE ~ Keep until policy expires, lapses or is replaced.
  • INCOME TAX RETURNS ~ Permanently
  • 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 the 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 veterans benefits)
  • RETIREMENT PLAN STATEMENTS ~ Three to six years. Keep year-end statements permanently.
  • PASSPORTS ~ Keep 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 AND RECEIPTS ~ Discard expired warranties. Use judgment when discarding receipts.
  • WILL ~ Keep current Will permanently. Keep until rendered obsolete (by a new version).

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