How Long Should I Keep Court Documents?

How long keep documents chart?

Chart: What records to keep, how long to keep themDocumentHow long to keep itCredit card statementsOne monthPay stubsOne yearBank statementsKeep monthly statements for one year.

Keep annual statements related to your taxes for at least seven years.Utility and phone billsOne month5 more rows•Mar 15, 2010.

How long Company records should be kept?

seven yearsSection 286 of the Corporations Act requires financial records to be kept for at least seven years after the transactions covered by the records are complete.

Is it safe to throw away old bank statements?

You should probably keep hold of credit card and bank statements for a year but you can throw away other household paperwork like utility bills.

How long do I need to keep lawsuit documents?

This can range from 10 years to a lifetime plus 70 years, depending on the intellectual property and the nature of the right. In addition, if litigation has been commenced, or if there is a threat of litigation, documents which are relevant to the litigation should be retained for at least the period of the litigation.

What papers should I keep and for how long?

How long should you keep documents?Store permanently: tax returns, major financial records. … Store 3–7 years: supporting tax documentation. … Store 1 year: regular statements, pay stubs. … Keep for 1 month: utility bills, deposits and withdrawal records. … Safeguard your information. … Guard your financial accounts.More items…

How many years of financial records should I keep?

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.

What papers to save and what to throw away?

When to Keep and When to Throw Away Financial DocumentsReceipts. Receipts for anything you might itemize on your tax return should be kept for three years with your tax records.Home Improvement Records. … Medical Bills. … Paycheck Stubs. … Utility Bills. … Credit Card Statements. … Investment and Real Estate Records. … Bank Statements.More items…•

Should I shred utility bills?

Most experts suggest that you can shred many other documents sooner than seven years. After paying credit card or utility bills, shred them immediately. … After one year, shred bank statements, pay stubs, and medical bills (unless you have an unresolved insurance dispute).

How many years of medical records should you keep?

seven yearsFederal law mandates that a provider keep and retain each record for a minimum of seven years from the date of last service to the patient.

What are the most important documents to have?

What Are Important Documents?Legal identification documents. Social Security cards. Birth certificates. … Tax documents. Tax returns. W-2s and 1099 forms. … Property records. Vehicle registration and titles. … Medical records. Wills, powers of attorney or living will. … Finance records. Pay stubs.

How long should you keep bills before shredding?

Utility bills: How long should you keep bills before shredding? If you’re claiming a home office deduction, you should keep utility bills for three years. Otherwise, keep them for one year, then shred them.

What records need to be kept for 7 years?

Accounting Services Records should be retained for a minimum of seven years. Accountants, being a conservative bunch, will often recommend that you keep financial statements, check registers, profit and loss statements, budgets, general ledgers, cash books and audit reports permanently.

How long should you keep your bank statements?

one yearKey Takeaways. Most bank statements should be kept accessible in hard copy or electronic form for one year, after which they can be shredded. Anything tax-related such as proof of charitable donations should be kept for at least three years.

How many years of bills should you keep?

A good rule of thumb is to keep any bills that you may want to review at a later date for 12 – 24 months.