These documents can be shredded after some time and generally are items you receive on a monthly basis. Many bills and detailed statements are now available online. Switch to electronic statements for a safe and secure record. Documentation should be kept until something is paid or sold. If you have disputed a bill, keep that until the dispute is resolved. Keeping your own records is important when it comes to tax-related documents.
Keep these items for at least 7 years:. Always keep items that prove things like you are who you say you are—these can be difficult and expensive to get new copies of.
We have several online and mobile tools available to help you maintain paperless records so you have less worry. Some commercial shredders pulverize paper. Others cross-shred. Many commercial shredders transport the destroyed documents to a recycling center to be used as paper or other products. Check with individual companies per their procedures. Suggested items to shred Why shred? For larger jobs, consider hiring a commercial shredding company.
In short, destroy all sensitive information including junk mail and paperwork that includes: Account numbers Birth dates Passwords and PINs Signatures Social Security numbers To protect your privacy, you should also consider shredding items that include: Names Addresses Phone numbers E-mail addresses How long should I keep sensitive documents? Here are some guidelines to help you determine how long to keep records: Tax Records: Seven years, to be safe.
The IRS has three years to audit your return if the agency suspects you made a mistake and up to six years if you likely underreported your gross income by 25 percent or more.
If you failed to file a return for any year, keep records indefinitely. Pay Stubs: One year. Match them up to your W2 form, then shred. Bank Statements: One year. The Federal Trade Commission Act authorizes this information collection for purposes of managing online comments. For more information on how the FTC handles information that we collect, please read our privacy policy. This is a moderated blog; we review all comments before they are posted.
We expect participants to treat each other and the bloggers with respect. We will not post comments that do not comply with our commenting policy. We may edit comments to remove links to commercial websites or personal information before posting them. Comments submitted to this blog become part of the public domain. To protect your privacy and the privacy of others, please do not include personal information. Also, do not use this blog to report fraud; instead, file a complaint.
Get Email Updates. Federal Trade Commission Consumer Information. Search form Search. Share this page Facebook Twitter Linked-In. May 1, by Lisa Weintraub Schifferle. Shredding Infographic. Blog Topics:. Comments macmaneddie May 1, reply. If you pay stubs have any garnishment shown, they should be kept forever.
The documents recommended to save forever are of a strange variaty. Tax Guru May 4, reply. FTC Staff June 4, reply. Deanna October 7, reply.
Lauren Woodley December 11, reply. Eggplant July 11, reply. Reforming Packrat October 5, reply. Marcel May 1, reply. Still confused May 13, reply. DigiScan May 15, reply. Is a scanned image just as legal as the paper document? FTC Staff May 16, reply. Enjay June 7, reply. CatGirl August 14, reply. I am ltonser. I need help. What can i do it? JW February 6, reply. Leave a Comment. Comment Policy This is a moderated blog; we review all comments before they are posted.
Recent Blog Posts How to save money heating your home this winter. November 12,
0コメント