From one year to permanently
- Keep the quarterly statements from your 401(k) or other plans until you receive the annual summary; if everything matches up, then shred the quarterlies.
- Keep the annual summaries until you retire or close the account.
Also to know is, do I need to keep old investment statements?
It’s a good idea to hold on to quarterly brokerage statements until you’ve got the annual summary in hand to make sure they match up, McBride says. It’s also wise to keep records of purchases and sales of securities in case you need to prove capital gains and losses at tax time.
Also know, how long should I keep my fidelity statements?
On its Web site, Fidelity Investments keeps statements for nine years, trade confirmations for three months and tax records for a year. Charles Schwab maintains 10 years of statements and cost-basis data.
What papers to save and what to throw away?
Important papers to save forever include:
- Birth certificates.
- Social Security cards.
- Marriage certificates.
- Adoption papers.
- Death certificates.
- Passports.
- Wills and living wills.
- Powers of attorney.
Do I need to keep old 401k statements?
In general, 401k plan records must be kept for a period of not less than six years after the filing date of the IRS Form 5500 created from those records. However, records necessary to a participant’s claim for plan benefits must be kept longer.
How many years should you keep bank statements for?
Is it safe to throw away old bank statements?
You may be ready to throw them out, but you’re not sure how. Is it safe to throw away old bank statements, or do you need to shred them first? According to the Federal Trade Commission, you should shred documents containing sensitive information, including bank statements, to protect yourself from identity theft.
What records to keep after someone dies?
Check registers, bank account statements, retirement account statements, credit card statements, medical statements and utility bills for the year of death (and for any prior year for which the decedent has not filed an income tax return);