There is an upcoming FREE shred event with Shred360. Shred your sensitive documents in a timely manner!
The event is taking place at the Bojangles Coliseum (2700 East Independence Blvd) on Friday, October 8th, 2021 from 11:00 am until 1:00 pm.
Attendees are limited to three (3) boxes (copy paper box or smaller) or three (3) bags (kitchen trash bag or smaller) per vehicle. Binder clips, paper clips, staples, rubber bands, or CDs/DVDs can stay.
To view other shred day events by Shred360, visit https://shred360.com/upcoming-shred-day-events/.
How long should you keep documents?
Do not toss: Defined-benefit plan documents, Estate-planning documents, Life-insurance policies, Safe-deposit box inventory (don’t toss the key either!). Federal and state tax returns.
Keep for 7 years: supporting records for personal federal and state tax returns.
Keep for a limited time:
Household furnishings paperwork
Keep receipts, warranties, and, while you're at it, instruction booklets for major appliances and electronics. You can get rid of a warranty when the period it covers has passed, and the rest of the material when you no longer own an item. Ditto for canceled receipts and bills for major purchases such as furniture.
Investment purchase confirmations
You'll need these to establish your cost basis and holding period when you sell the investments. If this information appears on your annual statements, you can keep those instead. Store the records in your file cabinet until you sell the investments, at which time you should move the back-up records into that year's tax-return file.
Keep closing documents for mortgage, vehicle, student, and other loans in a safe-deposit box. You can get rid of them after the loan is paid off, keep proof of payment and release of mortgage lien until home is sold.
Hold these in a secure place until you cash them in. Or you can convert them to electronic form using the Treasury's SmartExchange program, at www.treasurydirect.gov.
Keep purchase receipts, titles, and registration information in a safe-deposit box as long as you own the car, boat, truck, or other vehicle. Store the maintenance and repair records in your home filing cabinet.
Keep for a year: Bank records, Credit-card bills, Current-year tax records, Investment statements, Pay stubs, Receipts
See chart below for where to keep documents and when to toss them.
Keep these documents at home
When to toss them
Bank deposit slips
After you reconcile your statements
After a calendar year; and after you have filed your tax return, store with tax returns if they will be used to prove deductions
Brokerage, 401(k), IRA, Keogh, and other investment statements
Shred monthly and quarterly statements as new ones arrive; hold on to annual statements until you sell the investments
After you check and pay them, unless you need them to support tax filings
Employer defined-benefit plan communications
Household warranties and receipts
After you no longer own the household items
Hold until term expires
Investment purchase confirmations and 1099s
Hold until you sell the securities, then keep with your tax records for an additional seven years
After you reconcile them with your W-2 –hold the last paystub of the year for tax support – ie. Charitable donations, after tax health insurance
After you reconcile them with your credit-card or bank statement unless needed for a warranty or tax deduction
Safe-deposit box inventory
Never, but review and update annually
Cash them in when they mature
Social Security benefit statements
When you get a new statement, then shred the old one
Tax returns and supporting documents
Returns and W-2’s never, all others shred after 7 years.
Keep these in a safe-deposit box
When to toss them
Birth and death certificates
Never, or when a term policy has ended
After you sell your automobile, boat, or whatever the loan was for. Mortgage loans – only after sale of home –keep proof of any loan payoff.
Marriage licenses and divorce decrees
Military discharge papers
Social Security cards
After you sell the car, boat, motorcycle, or other vehicle