How long do you hold on to paper statements?

[Tink-n-MrIncredible]

I have a question I hope someone can answer. How long do you hold on to old bank statements? Other financial papaers? Bills? etc. I know indefinetly for tax papers. Thanks for any and all answers to my question.

 

[Justsyd2]

I believe that the suggested amount of time is 3 years for taxes, and 1 year for everything else. We have a tall file cabinet that we use for this.

 

[abmitch01]

I toss the monthly bills because on the rare occasion I've needed a statement, I've been able to get it online

 

[jmartinez1895]

You should keep all of your banking statements and tax forms for 7 years. Thats how far back the IRS can go to audit you.

 

[richs52]

I keep them for as long as it takes me to get from my mail box to the garbage can.

 

[deerhart]

I recently realized that I have every tax document I have ever filed (so like 14 years worth!)

I do not keep my bank statements since I do not even get them in paper form anymore (they are available for download online) and since I almost exclusively use online banking. Heck, the only check I write each month is for my rent and only because I am WAY WAY to lazy to set it up through my online banking. hence why it has taken us about 4 years to go through a box of checks.

 

[Sparkleshine]

I don't hold on to bank statements at all - in fact I don't even receive them in paper form any longer.

The only 'paper' I keep hold of are tax documents for 7 years.

 

[Redwitch]

I keep them for as long as it takes me to get from my mail box to the garbage can.

You might want to change "garbage can" to "shredder!"

 

[Mary•Poppins]

Okay ... you are suppose to save for 7 years, however, I had a need today to go back and look up some financial historical information. Not sure if we had it (relative to previous work history) and found our wedding information (what we were saving, what needed to be paid, how much money we had at the time) ... we will have been married 20 years on Aug 11th. My DH is in charge of filing all our important info. and it was a delight to find this in our files. Just got to love this man!!!

 

[blanq]

I don't hold on to bank statements at all - in fact I don't even receive them in paper form any longer.

The only 'paper' I keep hold of are tax documents for 7 years.

This.

 

[Swimalie]

You should keep all of your banking statements and tax forms for 7 years. Thats how far back the IRS can go to audit you.

Same here.