Financial Documents: What To Keep And Where
Confused about how long and where to keep your financial documents? Use this tip sheet.
Keep these financial documents in a file box or cabinet at home:
- The last 7 years of your tax returns (state and federal);
With each year’s tax return keep:
- W-2 forms;
- income statements from your bank and mutual funds (called a 1099);
- canceled checks for deductible expenditures.
- Bank statements and canceled checks for 3 years;
- Insurance policies, including car, health, life, rental and/or homeowners insurance;
- Pension plan or retirement plan statements;
- Mutual fund or other investment statements;
- An inventory of the things you own, or at least records of major purchases.
Keep these in a safety deposit box or a fireproof box:
- The deed to your home or other property you own;
- The title to your car;
- Birth, marriage and death certificates,
- Divorce and property settlement papers;
- The original copy of your will, with another copy at home;
- Leases; and
- Stocks and bonds.
