Important documents can be found in many different corners of your home. Even the most organized of us may find your passport in a desk drawer, or printed tax returns in a home office file folder. Many of these have sensitive information on them – like dates of birth, Social Security Numbers, or account numbers – which could create major problems for you and your family if they fell into the wrong hands. Even the most organized of us may find an expired driver’s license in a desk drawer, printed tax returns in a home office file folder, or a box of credit card offers collecting in the garage.
When it comes to your personal documents, which should you keep and which should you send to the shredder? Before you mark anything for destruction, be sure to follow this list.
Documents You Should Always Shred
There are several documents with sensitive information that can be immediately marked for destruction. Any credit or insurance offers that you don’t want should be shredded, because you wouldn’t want anyone else to respond to them. Any credit reports and ATM receipts you may have recently printed should also be shredded immediately after you are done with them.
Other items which should be destroyed on a regular basis include:
- Cleared checks (after 14 days)
- Prescription information for medicines you don’t take anymore
- Expired warranties
- Any expired identification or credit cards, including driver’s licenses.
Documents You Should Shred After One Year
After one year, some of your documents no longer hold the importance they once had and should be destroyed – especially if they have personally identifiable information on them. Hold on to printed bank statements and pay stubs for at least a year to record your income and cash and rectify any discrepancies which may arise in that time. Printed bank statements and pay stubs will also come in handy for the next year’s tax season.
Credit card and utility bills should also be on hand for at least a year to ensure that you’re not only paying the right amount, but the correct payments are reflected in your account.
Other documents which may be shredded after a year include:
- Undisputed medical bills
- Checks deposited to your account
Documents You Should Shred After Three Years
Tax documents should always be kept for at least three years for two reasons. First, your previous tax returns may be referenced on future tax returns. Second, in case a revision needs to be made, you will be able to reference those documents quickly and easily. Tax documents to hold onto include:
- Filed tax returns
- Tax statements, including forms W-2 and 1099
Documents in this category are also important for the housing market. If you’re planning on buying a house, it’s likely you will need to present your last two years of tax returns and W2s. And if you’ve sold a house, it’s also important to hold those documents for at least three years as well.
Documents to Hold onto Indefinitely
Some of your documents are important to your everyday life and should be filed away in a secure place indefinitely. Records regarding what you currently own, including your car title, car payment documents, home title deed, and mortgage documents, should be filed away for as long as they are valid. If you rent your home, always keep a valid and current copy of your lease agreement. Other receipts and documentation that you should hold for an extended period include:
- Home improvement receipts
- Receipts and warranty information for major appliances
Documents You Should Never Shred
Finally, there are some documents that should never be destroyed, and always secured in a safe spot inside your home. Items that are vital to your identity need to be held securely and accessible when you need them. The critically important documents are:
- Birth certificates or adoption papers
- Social Security cards
- Passports and residency papers
- Marriage licenses and divorce decrees
- Military records
- Wills, living wills, powers of attorney, and retirement plan information
- Death certificates of family members
- Vital health records (especially those that are not electronic)
When it’s time to securely destroy your sensitive documents, SESLOC members can join us for one of our Shred Days to make sure they are handled appropriately. Our branches host annual Shred Days, where members can bring two legal size boxes (12 x 10 x 15 inches), or about 80 pounds, to be shredded.¹ Visit our Shred Day page to learn more about our events and when the next one is happening near you.