How Long To Keep Papers
| Type of Paper | Keep How Long? | More Details |
| ATM receipts | Less than 1 year | Keep until reconciled with monthly statements. |
| Auto records | As long as you own the car | |
| Bank statements | 1 month | Check with the bank regarding storage of electronic records. |
| Birth certificates | Forever | Recommended to keep in safe deposit box or fire safe box. |
| Cancelled checks | 7 years | Tax supporting documents should be kept at least 6 years. |
| Charitable donation receipts | 7 years | Tax supporting documents should be kept at least 6 years. |
| Citizenship records | Forever | |
| Deposit/ATM receipts | 1 month | Discard after reconciling with the monthly bank statement. |
| Divorce records | Forever | May be needed for insurance or inheritance records. |
| Education records | Depends | Some may be needed for employment or educational programs. |
| Estate planning documents | Forever | |
| Greeting cards and letters | According to your comfort level | |
| Home repair/maintenance records | Forever | Depends on the nature of the project or tax nature of the house. |
| Insurance policies | Life of the policy | Some policies (like life insurance) need to be kept forever. |
| Investment records | Until you sell the investment | Keep quarterly records for 1 year. |
| Loan documents | Until the loan is paid off | |
| Marriage records | Forever | May be needed for insurance or inheritance records. |
| Medical records | Forever | Keep test results, health reports. |
| Medical bills and statements | Forever | If tax-related, keep at least 7 years. |
| Mortgage records | Forever | May be needed for insurance or inheritance records. |
| Passports | Forever | Expired passport needed to obtain new one. |
| Paycheck stubs | 1-2 years | No longer needed after reconciling with W-2s. |
| Receipts (tax-deductible) | 7 years | Tax supporting documents should be kept for at six years. |
| Receipts (non-tax deductible) | 1-3 months | Discard when the return period ends, and/or purchases have been reconciled with bank statements. |
| Tax returns and supporting documents | 7 years or more | Keep the actual state and federal returns forever. Supporting documentation should be kept for at least seven years. An audit can be performed up to six years after filing. |
| User guides and manuals | Life of the item | Most manuals can be accessed online if needed. Discard those for items you no longer own. |
| Warranties | As long as you own the item | Keep warranties together in an easily accessible location in the home. Use a binder or document box for easy storage. |
| Wills | Forever | These documents may be needed for insurance or inheritance questions. |
*Keep in mind that although these guidelines are given for physical paper, many of these categories are now handled all electronically. The following is from “How Long to Keep Tax Records and Other Documents” by Mandy Walker; http://consumerreports.org/taxes/how-long-to-keep-tax-documents/:
Use a fireproof safe or password-protected electronic file for the following: Bank and investment statements, estate-planning documents, pension information, insurance policies, pay stubs, tax documents, and your safe-deposit box inventory list.
Invest in a safe-deposit box for papers that can't be easily replaced: Original birth and death certificates, Social Security cards, passports, life-insurance documents, marriage and divorce decrees, military discharge information, vehicle titles, an inventory of your home's contents (in case you need to make an insurance claim), and loan documents.
From irs.gov:
Period of limitations that apply to income tax returns
Keep records for 3 years if situations (4), (5), and (6) below do not apply to you.
Keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later, if you file a claim for credit or refund after you file your return.
Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction.
Keep records for 6 years if you do not report income that you should report, and it is more than 25% of the gross income shown on your return.
Keep records indefinitely if you do not file a return.
Keep records indefinitely if you file a fraudulent return.
Keep employment tax records for at least 4 years after the date that the tax becomes due or is paid, whichever is later.