Record Retention Guide
Record Retention Guide
How long should you keep your tax records and financial documents? Below is a general guide to document retention periods.
| Document Type | Retention Period |
|---|---|
| Tax Returns | Permanently |
| W-2s and 1099s | 7 years |
| Bank Statements | 7 years |
| Brokerage Statements | 7 years after asset is sold |
| Receipts for Deductions | 7 years |
| Business Records | 7 years |
| Real Estate Records | Permanently (until sold + 7 years) |
| Retirement Account Records | Permanently |
| Employment Records | 7 years after termination |
| Insurance Policies | Duration of policy + 7 years |
Note: Consult with our office for advice specific to your situation.
Start With the Larger Picture
Whether your immediate concern is a tax bill, business structure, cash flow, advisor coordination, or a long-term wealth decision, the first step is understanding how it fits within the rest of your structure.