What documents should you keep?
Table of Contents
What documents should you keep?
How long should you keep documents?
- Store permanently: tax returns, major financial records.
- Store 3–7 years: supporting tax documentation.
- Store 1 year: regular statements, pay stubs.
- Keep for 1 month: utility bills, deposits and withdrawal records.
- Safeguard your information.
- Guard your financial accounts.
What papers do I need to keep and for how long?
Chart: What records to keep, how long to keep them
| Document | How long to keep it |
|---|---|
| Credit card statements | One month |
| Pay stubs | One year |
| Bank statements | Keep monthly statements for one year. Keep annual statements related to your taxes for at least seven years. |
| Utility and phone bills | One month |
Should I keep old health insurance paperwork?
As for insurance, keep your paperwork for as long as you have the policy and keep documentation for any unresolved claims of coverage. For health insurance, keep any records (explanation-of-benefit forms, receipts and invoices) covering treatments that are in progress or that are not completely paid for or resolved.
Do I need to keep old EOBs?
Unlike medical bills, EOBs should be kept from three to eight years after your procedure, or indefinitely if you have a reoccurring condition.
Do I need to keep old medical bills?
Medical Bills How long to keep: One to three years. Keep receipts for medical expenses for one year, as your insurance company may request proof of a doctor visit or other verification of medical claims.
How long should you keep household bills?
two years
How long must you keep financial records?
6 years
Do I need to keep old refinance paperwork?
Keep the Most Important Papers: Any paperwork that is specifically for your home purchase or original loan should be considered important papers and saved for the life of the loan. Loan paperwork, such as refinancing agreements, should also be kept.
