The transition from paper to digital can make many want to hoard their documents, but that doesn’t mean that you should. The choice between what to store, scan or shred isn’t easy—especially without the right records management system. Fireproof can help you manage your information, evaluate which documents need a stored hard-copy, as well as which can be digitalized and which can be shredded.
The following list will help you determine what to do with your records and documents:
- Tax returns: The IRS has six years to audit your taxes, so keep any tax return documents stored for at least seven years.
- Property deeds, records and titles: Keep any documents pertaining to your home, land, vehicle and other ownerships.
- Identification documents: Keep hard original copies of birth and death certificates, health records, adoption certificate, citizenship certificate, and social security cards.
- Marriage and divorce certificates
- Wills, trusts and Power of Attorney documents
- Yearly pay stub total
- Contractual agreements and vendor relationship documents: Keep copies such as a contract with a contractor for a home remodel.
- Owner’s manuals
- Insurance policies
- Finance documents: Keep invoices, register tape receipts, credit card charges, 1099s and W2s.
- Proof of deductible purchases and expenses mileage logs
- Voided checks
- Loan statements
- Pet records
- Pension statements
- Receipts for large purchases
- Bank statements
- Credit card statements
- Receipts older than one year
- Expired warranties
- ATM receipts and deposit slips that are already accounted for in your monthly bank statement
- Pay stubs older than one year
- Medical bills and statements (except if statements need to be used for a tax deduction)
- Telephone and utility bills older than one year
Still not sure? Connect with one of our document management experts today for a no-charge, no-obligation quote.