How long should I keep it?

• Tax returns — as there is no statute of limitations on audits if the IRS believes a return was fraudulent, some planners advocate keeping these records indefinitely
• Bank statements — if the statement provides documentation for tax returns keep with the return. Others can be shredded AFTER reviewing for errors.
• Investment documents — shred monthly or quarterly statements once you receive an annual summary. Keep all purchase & trade confirmation records for reporting on tax returns. Keep records of contributions to non-deductible retirement accounts as proof that you have already paid taxes on the funds (like a Roth IRA). Keep the most recent 401(k) or other retirement investment reports, being sure to review for accuracy.
• Loan documents — statements, once reviewed for payment posting and errors may be shredded once the next bill arrives. Actual loan papers and credit agreements should be kept for the duration of the account or obligation.
• Insurance paperwork — as with wills & other legal documents, insurance policies & records of claims should be kept indefinitely.
• Warranty information — for the duration of ownership
• Creditor billings — once reviewed for accuracy & the bill is not used as purchase, warranty, or tax documentation, creditor bills may be shredded after 60 days
• Utility billings — like other creditor billings once reviewed for accuracy & if not used for tax documentation (say for a small home business) these statements may be shredded after 60 days