Recordkeeping Guide: How Long You Should Retain Your Records

Some documents and records need to be kept indefinitely, but most can be discarded after a prescribed period. Here are some rules of thumb as to how long you should keep them. Keep in mind that certain circumstances – legal considerations, for instance – dictate that documents be kept longer. The basic rule is: When in doubt, don’t throw it out. If you have any questions, check with your financial advisor.

Some documents and records need to be kept indefinitely but most can be discarded after a prescribed period. Here are some general rules of thumb as to how long you should keep them. Keep in mind that there may be individual circumstances in which legal considerations, for instance, dictate that documents be kept longer. The basic rule is: When in doubt, don’t throw it out. If you have any questions, check with your financial advisor.

KEEP INDEFINITELY

KEEP FOR A PRESCRIBED PERIOD

THROW OUT NOW