When Can You Safely Discard These Important Documents?
It may be summer, but it’s not too late to finish your spring cleaning. As you sort through your belongings, including paperwork, it’s important that you don’t throw out the important documents you may need down the road.
Before you start shredding, use our Expiration Date Tracker to make sure it's safe to dispose of your files.
|Bank deposit slips
||After you reconcile your statements
||After a calendar year; store with tax returns if any will be used to prove deductions
|Employer defined-benefit plan communications
|Investment statements (brokerage, 401(k), IRA, Keogh)
||Shred old monthly and quarterly statements when you receive a new one; save annual statements until you sell the investments
|Investment purchase confirmations and 1099s
Hold until you sell the securities, then keep with your tax records for an additional seven years
|Life insurance policies
||Never, if still in force; store in your safe-deposit box
|Safe-deposit box inventory
||Never, but review and update each year
|Social Security statements
||Shred an old statement when you receive a new one
|Tax returns and related documents
||After seven years
Time to Start Planning
As you progress from organizing your important papers to planning for the future, consider how you can help the organizations you care about, like UA Little Rock. We’re happy to help you get started by finding the right giving vehicle for you. Contact J.R. Andrews, JD at firstname.lastname@example.org or 501-569-8740 to get started.