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Guide

What documents to keep (and for how long)

Most paper is safe to shred, a little of it is irreplaceable, and knowing which is which is the whole game. Here’s the practical retention list, category by category.

Keep forever

The irreplaceable-or-painful-to-replace tier. Originals belong in a fireproof safe or safe deposit box, with scanned copies somewhere you can actually find them.

Birth certificates

Keep: ForeverFireproof safe + digital copy
Needed for passports, school enrollment, and REAL ID. Order certified copies from vital records if lost.

Social Security cards

Keep: ForeverFireproof safe — never a wallet

Marriage and divorce records

Keep: ForeverFireproof safe + digital copy
Divorce decrees matter decades later for Social Security benefit claims.

Military discharge papers (DD-214)

Keep: ForeverFireproof safe + digital copy
Required for veteran benefits, home loans, and burial honors.

Wills, trusts, and powers of attorney

Keep: Forever (current versions)Fireproof safe; executor knows where
Destroy superseded versions to avoid probate confusion.

Death certificates of family members

Keep: ForeverFireproof safe

Home and property

Most of this tier lives as long as you own the property — and the receipts are worth real money when you sell.

Deed and title insurance policy

Keep: While you own + 7 yearsFireproof safe + digital copy

Closing disclosure and mortgage documents

Keep: While you own + 7 yearsDigital copy is fine

Home improvement receipts

Keep: While you own + 7 yearsDigital — scan immediately
They raise your cost basis and can cut capital gains tax when you sell. The most commonly lost valuable paper in home ownership.

Appliance manuals and warranties

Keep: Life of the applianceDigital (manuals are all online anyway)
Keep proof of purchase — warranty claims need the receipt, not the manual.

Taxes

The IRS can audit three years back normally, six if income was substantially underreported — seven years is the safe universal answer.

Tax returns

Keep: 7 years (many keep forever — they are small)Digital copy

Supporting documents (W-2s, 1099s, deduction receipts)

Keep: 7 yearsDigital, filed by tax year

IRA contribution records (especially nondeductible)

Keep: Until fully withdrawn + 7 yearsDigital
Form 8606 history is how you avoid being taxed twice on nondeductible contributions.

Financial accounts

Almost everything here is reconstructable from your bank — retention is about convenience, disputes, and taxes, not survival.

Bank and credit card statements

Keep: 1 year (7 if tax-relevant)Digital — download, do not rely on the bank portal
Banks often limit online history to 18–24 months.

Pay stubs

Keep: Until reconciled with your W-2Digital

Investment purchase confirmations

Keep: Until sold + 7 yearsDigital
Cost basis for anything bought before 2011 may not be tracked by your broker.

Loan payoff letters

Keep: ForeverFireproof safe + digital copy
The proof that ends any future collection mistake — worth keeping permanently despite the account being closed.

Insurance, medical, and vehicles

Active policies, health history, and anything tied to a thing you still own.

Insurance policies

Keep: While active + until claims window closesDigital; declarations page handy

Medical records and immunization history

Keep: ForeverDigital
Providers purge records after 7–10 years; your copy may become the only one.

Explanation of benefits (EOBs)

Keep: 1 year (longer if disputing or deducting)Digital

Vehicle titles

Keep: While you own the vehicleFireproof safe

Vehicle maintenance records

Keep: While you own the vehicleDigital
A documented service history adds real money at private sale.