How Long Should You Keep Personal Documents?06/14/2024By Julie DeLong, Paper Pig Shredding How long you store personal documents should be determined by a retention schedule that takes into consideration each record’s usefulness along with the legal requirements. This schedule will depend on the lifecycle of specific documents. After a document’s retention period, you should ensure that the document is securely destroyed by a third-party information security provider, such as Paper Pig Shredding. Please note that any retention recommendations listed herein are general guidelines only. They are not intended to represent legal advice. Please contact a legal expert or government office to endure you are abiding by current legal requirements for your area. Time Period Document Type Notes 1 month ATM Receipts Can be shredded after checkbook has been balanced 1 year Paycheck Stubs Can be shredded after compared to your W2 & annual social security statement 1 year Utility Bills, Cancelled Checks, Credit Card Receipts, Bank Statements Unless needed for tax purposes and then you need to hold onto for 3 years 3 years Medical Bills 3 years Records of Selling a House or Stock Needed documentation for Capital Gains Tax 3 years Annual Investment Statement Hold onto 3 years AFTER you sell the investment 7 years Records of Satisfied Loans 7 years Income Tax Returns, W-2s, 1099s This assumes an uncomplicated return Permanent Estate Planning Documents, Divorce Documents, Marriage Licenses, Birth Certificates, Adoption Papers, Death Certificates, Records of Paid Mortgages These documents should be kept in a safe place Paper Pig Shredding specializes in providing tailored document destructions services which allow businesses and individuals to comply with legislation and endure that confidential information is always kept secure. Please contact us today to learn more about secure and efficient confidential information destruction service for your home or business. REQUEST A QUOTE
How Long Should You Keep Personal Documents?06/14/2024By Julie DeLong, Paper Pig Shredding How long you store personal documents should be determined by a retention schedule that takes into consideration each record’s usefulness along with the legal requirements. This schedule will depend on the lifecycle of specific documents. After a document’s retention period, you should ensure that the document is securely destroyed by a third-party information security provider, such as Paper Pig Shredding. Please note that any retention recommendations listed herein are general guidelines only. They are not intended to represent legal advice. Please contact a legal expert or government office to endure you are abiding by current legal requirements for your area. Time Period Document Type Notes 1 month ATM Receipts Can be shredded after checkbook has been balanced 1 year Paycheck Stubs Can be shredded after compared to your W2 & annual social security statement 1 year Utility Bills, Cancelled Checks, Credit Card Receipts, Bank Statements Unless needed for tax purposes and then you need to hold onto for 3 years 3 years Medical Bills 3 years Records of Selling a House or Stock Needed documentation for Capital Gains Tax 3 years Annual Investment Statement Hold onto 3 years AFTER you sell the investment 7 years Records of Satisfied Loans 7 years Income Tax Returns, W-2s, 1099s This assumes an uncomplicated return Permanent Estate Planning Documents, Divorce Documents, Marriage Licenses, Birth Certificates, Adoption Papers, Death Certificates, Records of Paid Mortgages These documents should be kept in a safe place Paper Pig Shredding specializes in providing tailored document destructions services which allow businesses and individuals to comply with legislation and endure that confidential information is always kept secure. Please contact us today to learn more about secure and efficient confidential information destruction service for your home or business. REQUEST A QUOTE