Tax Center
Record Retention Guide
The IRS can audit most returns for three years after filing — but that window extends in several situations. Our general advice: keep tax returns forever, keep supporting records for seven years, and keep some documents (home purchase, investments, major repairs) as long as you own the asset.
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Tax records
Tax records support numbers on your return — if the IRS questions a deduction or income item, you need the backup.
| Document type | How long |
|---|---|
| Tax returns (federal & state) | Forever |
| W-2s, 1099s, 1098s | 7 years |
| Receipts for deductible expenses | 7 years |
| Charitable contribution records | 7 years |
| Records of stock / mutual fund purchases | Until 7 years after sold |
| Records of home purchase + improvements | Until 7 years after home sold |
| IRA contribution statements (Form 8606) | Until withdrawn completely |
| Records supporting bad-debt deduction | 7 years |
| Records supporting worthless securities | 7 years |
Business records
Separate from tax support, business records serve operational + legal purposes.
| Document type | How long |
|---|---|
| Articles of incorporation / organization | Forever |
| Corporate minutes + bylaws | Forever |
| Annual reports | Forever |
| Property records (real estate + equipment) | Until 7 years after disposal |
| Accounts payable / receivable ledgers | 7 years |
| Bank statements + canceled checks | 7 years |
| Expense reports + receipts | 7 years |
| Payroll records + timecards | 7 years |
| Retirement plan documents | Forever |
| Employee contracts | 7 years after termination |
Personal financial records
Outside the tax context, there's still a retention cadence worth following.
| Document type | How long |
|---|---|
| Birth / marriage / death certificates | Forever |
| Social Security card | Forever |
| Passport | Until expired + 1 year |
| Property deeds + titles | Until sold + 7 years |
| Mortgage documents | Until paid off + 7 years |
| Insurance policies | Duration of policy + 7 years |
| Medical records | At least 7 years |
| Credit card statements | 1 year (or 7 if tax-relevant) |
Other resources
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