What to Save & What to Shred
Keep for one month:
- Credit Card Receipts (after you have checked against your statements)
- Sales Receipts for minor purchases
- Withdrawal and Deposit slips (after you’ve checked them against your monthly bank statement)
Keep for 1 year:
- Paycheck stubs (after they are reconciled with your annual W-2 or 1099)
- Monthly bank, credit-card, brokerage, mutual-fund and retirement account statements
- Phone & utility bills
- Mortgage statements
Keep for 7 years:
- W-2s, 1099s, and other guts of your tax returns
- Year end credit-card statements, brokerage and mutual-fund summaries
Keep indefinitely:
- Tax Returns
- Receipts for major purchases
- Real estate and residence records
- Will and Trusts
Keep in a Safe-Deposit Box:
- Birth and Death Certificates
- Marriage Licenses
- Insurance Policies
- Passports
- Copies of your will and trusts
- Copies of your Credit cards (if they are lost or stolen)
Note: These are guidelines. Please check with your accountant about your specific requirements.
List provided by www.realsimple.com/organizingforms