Record Retention Guidelines for Individuals

Tax returns (uncomplicated) 7 years
Tax returns (all others) Permanent
W-2’s 7 years
1099’s 7 years
Cancelled checks supporting tax deductions 7 years
Bank deposit slips 7 years
Bank statements 7 years
Charitable contribution documentation 7 years
Credit card statements 7 years
Receipts, diaries, logs pertaining to tax return 7 years
Investment purchase and sales slips Ownership period + 7 years
Dividend reinvestment records Ownership period + 7 years
Year-end brokerage statements Ownership period + 7 years
Mutual fund annual statements Ownership period + 7 years
Investment property purchase documents Ownership period + 7 years
Home purchase documents Ownership period + 7 years
Home improvement receipts and cancelled checks Ownership period + 7 years
Home repair receipts and cancelled checks Warranty period for item
Retirement plan annual reports Permanent
IRA annual reports Permanent
IRA nondeductible contributions (Form 8606) Permanent
Insurance policies Life of policy + 3 years (check w/agent)
Divorce documents Permanent
Loans Term of loan + 7 years
Estate planning documents Permanent