It may be summer, but it’s not too late to finish your spring cleaning. As you sort through your belongings, including paperwork, it’s important that you don’t throw out the important documents you may need down the road.
|Bank deposit slips||After you reconcile your statements|
|Banking statements||After a calendar year; store with tax returns if any will be used to prove deductions|
|Employer defined-benefit plan communications||Never|
|Investment statements (brokerage, 401(k), IRA, Keogh)||Shred old monthly and quarterly statements when you receive a new one; save annual statements until you sell the investments|
|Investment purchase confirmations and 1099s||
Hold until you sell the securities, then keep with your tax records for an additional seven years
|Life insurance policies||Never, if still in force; store in your safe-deposit box|
|Safe-deposit box inventory||Never, but review and update each year|
|Social Security statements||Shred an old statement when you receive a new one|
|Tax returns and related documents||After seven years|
As you progress from organizing your important papers to planning for the future, consider how you can help the organizations you care about, like Casa Pacifica. We’re happy to help you get started by finding the right giving vehicle for you. Contact Carrie Hughes at firstname.lastname@example.org or (805) 366-4011 to get started.
Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.