Knowing how long to keep documents with sensitive information can be confusing. Some documents you should plan to keep forever, but others can be shredded immediately. Here’s a guide to what to shred and when.
Shred Immediately
Does something have your name and address on it? Does it contain sensitive data such as account numbers, balances, or credit card numbers? If the answers to any of these questions are yes, then consider shredding it.
A few things you can shred immediately:
- Credit card or insurance offers
- Paid billing statements
- ATM receipts
- Sales receipts
- Paid utility bills
- Expired warranties
Shred After 30 Days
Items to keep for at least 30 days include the following:
- Pay Stubs
- Checks deposited through mobile apps.
Learn how to deposit a check through our mobile app.
Shred Within a Year
Some items you will want to keep for a few months to look back on. These documents can be shredded after some time and generally are items you receive on a monthly basis. Many bills and detailed statements are now available online. Switch to electronic statements for a safe and secure record.
A few things you can shred in six months to a year:
- Bank statements
- Paid, undisputed medical bills
Keep until Paid or Sold
Documentation should be kept until something is paid or sold. If you have disputed a bill, keep that until the dispute is resolved.
A few items to keep are:
- Vehicle titles
- Home deeds
- Disputed bills (medical, utility, etc.)
Maintaining Records
Keeping your own records is important when it comes to tax-related documents. Keep these items for at least 7 years:
- Tax related receipts
- Tax-related cancelled checks
- W2s
- Records for tax deductions
Keep Forever
Always keep items that prove things like you are who you say you are—these can be difficult and expensive to get new copies of.
- Birth Certificates
- Social Security Cards
- Citizenship papers
- Adoption Papers
- Tax returns
- Death Certificates
- Marriage certificates or divorce decrees
We have several online and mobile tools available to help you maintain paperless records so you have less worry. Learn how to get set up on eStatements.
FAQs
Below is a list of specific items to consider shredding for your safety and privacy:
- Address labels from junk mail and magazines.
- ATM receipts.
- Bank statements.
- Birth certificate copies.
- Canceled and voided checks.
- Credit and charge card bills, carbon copies, summaries and receipts.
- Credit reports and histories.
Don't toss the junk mail in the trash bin; shred it. Given merely your name, address, and a credit offer, someone could take out a line of credit in your name and spend money, leaving you on the hook.
When should you shred files? ›
Other records
After paying credit card or utility bills, shred them immediately. Also, shred sales receipts, unless related to warranties, taxes, or insurance. After one year, shred bank statements, pay stubs, and medical bills (unless you have an unresolved insurance dispute).
When should you destroy bank statements? ›
Shred Within a Year
Many bills and detailed statements are now available online. Switch to electronic statements for a safe and secure record. A few things you can shred in six months to a year: Bank statements.
Should I shred 20 year old bank statements? ›
According to the Federal Trade Commission, all documents with sensitive information, such as credit card numbers and bank account information, should be shredded to protect your identity from theft. Old bank statements and many other types of documents fall under this category.
Is it OK to throw away old bank statements? ›
Your best option is to shred any documents that contain sensitive information before tossing them. Either invest in a shredder for your home or utilize a professional shredding service. You will likely pay a fee for this service, but it's a small price to keep your personal information safe.
What documents should not be shredded? ›
Here's a list of documents that you should keep forever:
- Birth certificates for yourself and your family.
- Social Security cards.
- Marriage certificates and divorce decrees.
- Citizenship papers or green cards.
- Pension plan documents.
- Adoption papers.
- Death certificates.
- Business licenses.
Items That Must Also Be Shredded
If it's a debit or credit card receipt, that's even more important because it shows the last four digits of the card used. That can be leveraged by identity thieves – especially if the receipt shows your signature.
Is it OK to throw away credit card offers? ›
Destroy Immediately
Sales and cash withdrawal receipts from ATM's, junk mail credit card offers. Also, remove and shred pharmacy labels before throwing away the empty prescription bottles.
Do I need to shred old credit card statements? ›
Shredding old credit card statements (and other important financial documents) is crucial for protecting account numbers, names, addresses and especially Social Security numbers.
After you have carefully sorted and set aside the important documents of the deceased, you may be left with a hefty pile of additional papers. To prevent any cases of identity theft, it is highly advised to shred all documents containing personal or financial information.
How do I get rid of old bank statements without a shredder? ›
Soaking paper documents in water for one or two days and mixing it around is an effective way to make them unreadable. This dissolves the paper into a pulp that you can break up by hand. However, you'll need the space and patience to leave your documents in buckets of water in a secure place.
Can I get 20 year old bank statements? ›
Old records may be destroyed after 20-30 years per bank policy. However, banks are not required to purge very old records and may still have the ability to retrieve them. Accessing archived records involves manually retrieving them from storage. This takes time and banks will charge fees to cover costs.
Do I need to keep bank statements for 7 years? ›
A good rule of thumb is to keep your monthly statements for the current year, and then shred them once you've reconciled them with an annual statement. The exception is any statement needed for tax purposes – those get grouped into the “keep for seven years” category.
Should I keep old credit card statements? ›
Credit Card Statements: Keep them for 60 days unless they include tax-related expenses. In these cases, keep them for at least three years. Pay Stubs: Match them to your W-2 once a year and then shred them. Utility Bills: Hold on to them for a maximum of one year.
Should you shred old insurance policies? ›
Keep insurance policies while they remain active
When it comes to insurance, consider keeping current documentation and updated proof of insurance as long as you're paying on the policies, and they remain active. Any time you receive any new/updated policy information, consider shredding the outdated documents.
Should I shred credit card receipts? ›
Experts say you can throw away receipts if they contain no personal information, such as retail store or restaurant bill receipts. Here are items you should shred rather than throw away: Credit card receipts.
