Tips on How Long to Retain Household Information

from EliminateChaos.com

Automobile records (titles, registration, repairs) – as long as you own the vehicle(s).

Appointment books – 1 to 10 years, according to your comfort level and for your tax needs.

ATM slips – maximum of six years if needed for tax purposes.

Bank Statements – maximum of six years if needed for tax purposes.

Credit card statements – maximum of six years if needed for tax purposes, otherwise one year, until company issues annual interest statement.

Catalogs & magazines – until the next issue. Home appraisal – as long as current.

Home inventory – as long as current.

Insurance policies (auto, home, renters, life) – as long as statute of limitations in the event of a late claim.

Investments (purchase records) – as long as you own.

Mortgage – as long as you own, or six years after discharge.

Pet vaccination records – as long as current.

Property bill of purchase – as long as you own the property.

Resume – as long as it is current.

Safety deposit box inventory & key – as long as it is current.

Tax records:
current year, plus prior 6 years. (Records might include: bank statements and cancelled checks, certificates of deposit, contracts,charitable contributions, credit statements, income tax returns, lease and loan agreements, loan payment books, pension plan records, pay stubs)

Utility statements:
current year, unless needed for tax purposes, then six years. Vital records – permanently. (Records might include: adoption papers, birth & death certificates, citizenship papers, copyrights/patents, marriage certificate, divorce decree, letter of “last instructions” to executor or heirs, medical illness and vaccination records, passports, power of attorney, Social Security records, wills)

Warranties and instructions:
keep for the life of the item, or life of the warranty, whichever is longer. Stick a label with the warranty expiration date and service repair number on the bottom of the appliance. If something breaks down, you’ve got an easy way to check if the item’s still covered without even having to go to your file drawer! (Over for information on receipts)

Receipts:
Appliances – as long as you own the item.
Art, antiques, collectibles – as long as you own the item. Clothing – for the length of the return period, unless you are tracking clothing as a household budget item.
Credit card slips – until the statement arrives and you can verify the purchases.
Furniture – as long as you own the item. Home improvements – as long as you own your home, or six years after the sale of your home.
Household repairs – for life of the warranty or longer to track reliability of service people and their rates.
Major purchases – for the life of the item.
Medical and tax-related – maximum of six years.
Rent – cancelled check is sufficient. If you don’t get your cancelled checks, you can request a copy of a specific check if needed.

Please Note:It is important that you check with your accountant and/or lawyer before throwing out any legal or financial papers because they will know the laws that govern your situation.

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