In most families, the paper becomes messy. And it seems to grow myself on its own. But how much do you need to preserve receipts, bank and credit card statements, and other financial documents? The following is convenient In most homes, the paper becomes cluttered. And it seems to grow myself on its own. But how much do you need to preserve receipts, bank and credit card statements, and other financial documents? Below is a handy reference that you can use to handle paper trails in your home.
Toss in 1 month
ATM and bank deposit / withdrawal details
- Save it in the file folder until the monthly statement is received
- Verify with bills that billing and payment are properly handled
- In the case of a large-scale purchase with guarantee, the owner's manual and file staple receipt within the warranty period
- In the case of large-scale purchase without guarantee, please check whether the exchange fee exceeds the deduction amount of insurance contract of home owner
- In case of minor purchase without guarantee, shredding
Receipt of cash purchase
- Please consider all purchases using yourcheckbook or computer software
- For key purchase with guarantee, please staple in the owner's manual and file within the warranty period
- In the case of large-scale purchase without guarantee, please check whether the exchange fee exceeds the deduction amount of insurance contract of home owner
- In case of minor purchase without guarantee, shredding
Credit card receipt
- Keep in file until monthly statement arrives
- Verify with the statement that fees and payments are properly handled
- For key purchase with guarantee, please staple in the owner's manual and file within the warranty period
- In the case of large-scale purchase without guarantee, please check whether the exchange fee exceeds the deduction amount of insurance contract of home owner
- In case of minor purchase without guarantee, shredding
Toss after 1 calendar year
- Monthly statements of banks / financial institutions (required for other family projects)
- Statement of Brokerage / Mutual Fund (Monthly / Quarterly)
- To reconcile with your annual statement
- Monthly statement of credit card
- Credit report
- You must request your credit report every year to ensure that all information is accurate and up-to-date
- By requesting this file every year, you can prevent the theft of personal information. Therefore, who is requesting the report, for what purpose
- Monthly Mortgage Statement
- To reconcile with your annual statement
- Proof of income
- After reconciling with your W-2 or 1099 (US) or T4 (Canada)
- Telephone / Public Interest Bill
7 to 10 years retention
- Any T4 form (T4E etc.) (Canada)
- Annual Mortgage Statement
- Although it is not limited to this, support document (tax check / receipt / statement cancellation) for tax return declaration
- Donation
- Donation of retirement account
- nursery
- Dependent / dependent family
- Medical bills
- Mortgage interest rate
- Payment of real estate tax
- W-2 or 1099 form (US)
- Year-end statement from credit card (if provided)
- Year-end report from utility company (if provided)
Keep infinite
- Record Record
- Automatic / home / life insurance information
- Keep purchase record as long as policy is valid
- Automobile record (possession certificate / registration)
- As long as you own your car
- If registration is required annually, the current registration form
- Birth certificate
- In the case of self-employed business income tax returns, and backing documents
- Death certificate
- Divorce Agreement / Child Court Order
- Investment record clearly showing useful information
- Purchase record
- Sales record
- Marriage certificate
- Medical record
- Child immunization record
- Military service record
- Pension system record
- Receipt for improvement / renovation of major house
- Receipt of long-lasting major purchase (refrigerator, stove, freezer, vehicle)
- Religious record
- School / educational records
- Tax refund
- In the United States, investigate whether there is any error in the tax return form for three years from the date of filing the tax return, and if it is deemed that total income has not been reported more than 25%, audit returned goods within 6 years To do. If there is a suspicion of deliberate fraud, there are no laws on restrictions on auditing.
- In Canada, the CRA advises you to keep tax returns, assessment notices, and all backing documents for six years from the date of filing your personal income tax return.
- Note - I recommend that you keep these indefinitely. This may be valuable material if there are conflicts such as income tax payment, child support / dependency support / payment, and pension system benefits.
- Power of attorney and / or power of attorney
- It is necessary to safely keep it in a safe for a fire prevention of a financial institution or a safe for a house
- Year-end investment account summary
So?
You knew what to keep, so where should you put it?
Please set up a simple home-use filing system covering basic matters and invest in heavy-duty cardboard or plastic filing boxes for information that should be kept for a long time or indefinitely.
Ultimately, when judging that it is no longer necessary to keep a specific document, please do not dispose of the shredder and put it in general waste or recycling. Important financial information and personal information should always be destroyed to avoid the theft of personal information that may lead to headaches beyond what you imagine.
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