2006-12-10 14:11:53 · 6 answers · asked by SZ 3 in Business & Finance ➔ Personal Finance
Bank statements 1 year. Mutual fund statements 3 years.
2006-12-10 14:19:49 · answer #1 · answered by man_of_mustard 3 · 0⤊ 0⤋
I keep my bank statements up to a year to compare them to the final year-end statement I get for tax filing.
Mutual Fund accounts that are closed, should be kept for about three years in case there's an audit on your taxes.
2006-12-10 15:06:39 · answer #2 · answered by Ambassador Z 4 · 0⤊ 0⤋
A good rule of thumb is to keep you bank statements for one year. Afterwards you should shred the ones you need to throw away.
As for your mutual fund account statements, I would keep the latest copy that shows your current balances and shred the rest.
Hope this helps.
God Bless.....
2006-12-10 14:15:58 · answer #3 · answered by ye 4 · 0⤊ 0⤋
I think you should keep your financial records for up to three year. if you expect to audited by IRS, they normally go back three years. Beyond this, there is no point in keeping it longer. Most stuff you file will never see the light of day again.
2006-12-10 14:27:57 · answer #4 · answered by Treebeard 2 · 0⤊ 0⤋
if you do paper statements - the answers already given are good.
If you are online like me...zero time is needed. because mine I online at the bank in pdf's ...so are yours too most likely.
Nowadays its not necessary to keep statements at all unless there are issues in that months transactions.
For closed accts, if they are tax related some time is good.
but if not, no need to keep.
2006-12-12 08:56:34 · answer #5 · answered by pcreamer2000 5 · 0⤊ 0⤋
My CPA says 7 years-- I have invested for over 25 years with much DRIP activity-- I'll keep lots of papers-- oh well.
good luck
2006-12-10 16:57:17 · answer #6 · answered by omajust 5 · 0⤊ 0⤋