How Long to Keep Documents - Individual

We have encountered clients who keep every receipt and bank statement yet are unable to locate the title to their automoblile or other important papers. For those and others out there that hold to the Keep it All philosophy — we have compiled the following list of the suggested record retention period for individuals.

Surprising we found that accountants have differing opinions as to how long to retain records. Some may consider this somewhat conservative. If you need authorative information for a specific type of document, seek the advice of your accountant or CPA.

For business, see How Long to Keep Documents - Business.

If you find inaccuracies or or think we have omitted something, please notify doug@gracefultransitions.biz.

Suggested Retention Period	Where to Store
Until matched to statement
Credit card receipts - typical personal purchases	H
Until matched with year end W-2
Paycheck stubs	H
Until matched w/ year end statement
Brokerage account statements - monthly or quarterly	H
Retirement account statements - monthly or quarterly	H
3 years
Checks & paid bills - day-to-day purchases - groceries, phone, etc.	H
Contracts and leases – expired	H
Insurance policies – expired	H
7 years
Checks & paid bills - if at all tax related	H
Bank statements	H
Credit card receipts and statements - if at all tax relate	H
Traffic violations & accident records & reports	H
Duration of ownership
Motor vehicle, boat, aircraft, and other titles	S
Burial lot deed	S
Checks, credit card & paid bills - house remodeling & improvements	H
Checks, credit card & paid bills - major purchases - cars, furniture, etc.	H
Records of auto service & repair	H
Warranties & instruction manuals - attach purchase receipts	H
Until account closed
Brokerage account statements - year end	H
Retirement account statements - year end	H
Until debt is paid
Loan, credit, or installment records & payment book - all except mortgage	H
As long as in effect
Living Will & Powers of Attorney	H+S
Last Will & Testament	H+S
Trust documents	H+S
Permanently
Anything else that would be expensive or difficult to replace	S
Diplomas & secondary school transcripts	H
Adoption & custody papers	S
Birth, marriage, or death certificates	S
Citizenship papers	S
Contracts and leases - still in effect	H
Correspondence - legal and important matters	H
Deeds, mortgages & bills of sale	S
Divorce, separation & settlement papers	S
Financial statements	H
Insurance policies, claims & records - still in effect	H
Inventory of bank & brokerage accounts, credit cards & pension records	H+S
Inventory of household goods & appraisals - update annually	H+S
Inventory of safe deposit box contents - update periodically	H
IRA contributions – nondeductible	H
Medical history - update periodically	H
Military papers	S
Real estate settlement sheets & documents	H
Stock & bond certificates, savings bonds	S
Tax returns, worksheets & adjustment notices	H

Where to Store: H = household files
S = safe deposit box or fireproof safe