SAVING YOUR RECORDS
How long should you SAVE RECORDS?
Below is a list of IMPORTANT PAPERS and how long you should retain them:
| TYPE OF RECORD | HOLDING PERIOD | PLACE TO SAVE |
| FAMILY PAPERS: Birth, Marriage and death certificates, divorce and settlement papers, military discharge papers, school transcripts and diplomas | Indefinitely | Safe Deposit Box |
| HEALTH RECORDS: Copies of immunizations, hospital stays and operations. | Indefinitely | Safe Deposit Box |
| GOVERNMENT DOCUMENTS: Social Security Card, Passport` | Indefinitely | Card in safe place: file stub in safe deposit box. Passport in safe deposit box until needed. |
| ESTATE MATERIALS: Wills, trusts, burial instructions | Indefinitely | Originals with attorney, copes at home and in safe deposit box. |
| TAX RECORDS: Returns and supporting documents | Seven years (required by government) | Home Files |
| PROPERTY RECORDS: Mortgages, deeds, titles, loan agreements, photos and ID numbers of valuables. | As long as you own the property plus several more years as proof of loan paid off. | Originals in safe deposit box |
| HOME IMPROVEMENT RECORDS: Receipts, contracts and records of costs. | Until home is sold and tax liability is settled. | Homes files with copies in safe deposit box. |
| WARRANTIES AND GUARANTIES: Contracts and proof of purchase. | As long as you own the items or until the warranties have expired | Home Files |
| INSURANCE RECORDS: Policies and household inventory, including photos and appraisals of value. | Until four years after expiration of policy. Update inventory annually. | Original policies at home, copies and inventory in safe deposit box. |
| INVESTMENT RECORDS: Securities, buy and sell orders, cancelled checks, statements and contracts for retirement plans. | At least three years beyond the sale for tax purpose. Retirement materials indefinitely. | Certificates in safe deposit box, copies at home. |
| BANK ACCOUNT RECORDS: Cancelled checks, registers, statements, receipts. | Certificates of Deposit (CD's) until maturity. Others as long as needed for related tax matters. | CD's and list of accounts in safe deposit box. Ledger books and checks at home. |
| CREDIT ACCOUNT RECORDS: List of cards, records of payments. | Until obligation is discharged; longer to support tax deductions. | Home Files. |
| MASTER LISTS OF ASSETS AND LIABILITIES: Record of financial accounts, property owned, insurance coverage, taxes. | Update Annually | Home files. Copies in safe deposit box. |
| SAFE DEPOSIT BOX INVENTORY | Indefinitely. Update as contents change. | Home files. |
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