It’s that time of year when many of us open the windows and start spring cleaning away all the dust and dirt that accumulated over the past year. If you’re like a lot of people, you may find yourself sifting through drawers and piles of old documents wondering if it’s really necessary to keep those papers around.
The answer is, it depends on the document. Some you really should hold on to for several years while others can be shredded and recycled. Here’s a handy guide from USA.gov to help you determine which papers can go and which should stay.
|
Document |
How Long to Keep It |
|
Bank statements |
1 year, unless needed to support tax filings |
|
Birth certificates, marriage licenses, divorce decrees, passports, education records and military service records |
Forever |
|
Contracts |
Until updated |
|
Credit card records |
Until paid, unless needed to support tax filings |
|
Home purchase and improvement records |
As long as you own the property |
|
Life insurance records |
Forever |
|
Car and home insurance records |
Until you renew the policy |
|
Investment statements |
Shred your monthly statements; keep annual statements until you sell the investments |
|
Investment certificates |
Until you cash or sell the item |
|
Loan documents |
Until you sell the item for which the loan was made |
|
Real estate deeds |
As long as you own the property |
|
Receipts for large purchases |
Until you sell or discard the item |
|
Service contracts and warranties |
Until you sell or discard the item |
|
Social Security card |
Forever |
|
Social Security statement |
When you get your new statement online, shred the old one |
|
Tax records |
7 years from filing date |
|
Vehicle titles |
Until you sell or dispose of the car |
|
Will |
Until updated |
Now that you’ve decided which documents you no longer need, it’s time to make sure they are securely destroyed. Unfortunately, simply throwing documents away can put you at risk for theft or fraud, which is why shredding is one of the safest and easiest methods of disposal. To have your documents conveniently and securely shredded, watch for a Capitol Federal® free Shred Days event near you.
Categories:
Community and Events
, Safety and Security
Tags:
About CapFed
Comments
Capitol Federal
Mike
CapFed
Sandra Terry
Collette Langford
Elsa Sprow
Anna Swearengin
CapFed
Richard snider
Lisa Ledo