Utility, medical, etc. I am overcome with old paperwork. I know tax paperwork is 7 years. But even that I have many more years of paper files.
If the paper work is necessary for verification of facts relating to the transaction they relate to then I believe the statute of limitations for your state.
If they involve transactions regarding the federal government then the statue for for the federal government.
Contracts that are active such as mortgagaes and loan agreements should be kept until the statute of limitations for your states expires starting after the contract is paid off.
Statute of limitations by states
Federal Statute of limitations
I am not a lawyer and any advice you get from me may be worth a lot less that what you have paid for it.
Just wrote on this. Important Documents What You Need to Keep and What You Can Get Rid Of – The Tech Minimalist
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Thank you! That is exactly what I was looking for. I already had the permanent keep records pretty much line up with yours. It was the temporary records, especially bills for home expenses/utilities and receipts I was concerned about.
Fwiw, in going through and shredding records I knew I could get rid of a few months ago, I came across a receipt for tires on a car we hadn’t owned in ~30 years…the receipt was a number of years earlier than that… It is now in the “to shred” pile, but so far it hasn’t made it through the machine…too funny from a historical perspective.
I’m assuming I don’t need banking, bill, or most medical documents for my parents who passed away nearly 12 and 10 years ago.
You’re welcome, I wrote a lot of similar articles you can view on my blog. I did keep my mom’s medical records so that I can refer to them and my son has a history of medical conditions. I scan every document I receive to my computer so that I have a digital copy of everything. I have scanned all important items like birth certificates, social security cards, marriage license, death certificates, house deed, etc. and I backup my computer once a week and keep a hard drive containing the backup in a fireproof safe along with all of my important documents.
the key here is “non-tax”. If that’s accurate, shred them.
I run my own c-corp. After 3 years, off to the shredder it goes.
The only reason to worry about some records is for capital gains and it’s usually related to your house. A while back, the feds rolled back the estate thievery so it’s not that bad. Keep your real estate paper work (purchase/mortgage stuff), shred the rest.