Document Retention Guide
How long should you keep your documents?
Short-term (1-3 years)
- Household bills, except those that support tax deductions (items such as heat, water, and electricity are generally short-term unless you deduct them for home office use or a rental)
- Expired insurance policies
Medium-term (6-7 years)
- Tax returns and supporting information
- Income and expense records (including lottery tickets and winnings)
- Bank and credit union statements
- Brokerage house statements
- Canceled checks and check registers (checks for major purchases may be kept longer)
- Paid-off loan documents
- Personal property sales receipts
Long-term (indefinitely)
- Tax dispute records
- Evidence of retirement plan contributions
- Investment records
- Medical history information
- Pension/retirement plan documents
- Social Security information
Other (as noted)
- Home ownership/sale documents: 7 years after sale or indefinitely
- Home improvement records: 7 years after sale