Jul 26 2009
When can I shred the records?
When can the cancelled checks and tax returns be shredded? Yes, shredded. To protect yourself from identity fraud, do not put any financial documentation in the trash or the recycling. When in doubt, seven years is the length of time you want to remember, although some items, such as mortgage documents, should be kept permanently. You should keep most tax-related documents for seven years. Once credit card receipts have been matched to the bank statement, the receipts can be shredded. Keep the credit card statements for seven years. Bankrate.com has a nice matrix which reflects how long to keep the most common financial records.
