How long is it necessary/prudent to keep IRA statements?

Question

Is there a compelling logical reason to keep any more than just the most recent?

Answer 1

I would keep individual statements until the annual summary statement arrives. The annual summaries I would keep at least until the next annual summary. If a portion of your contributions are after tax, keep those records until 3 years after you have withdrawn the last of the money. Remember to SHRED and/or BURN all financial records when you dispose of them.

Answer 2

I keep ANYTHING concerning taxes for a minimum of 7 years. I would rather have too much unnecessary information during an audit than not enough. Plus if something is wrong with your IRA, the statements could help you track down where the error occurred.