Quick Answer: Can I Throw Away Old Paystubs?

How long should pay stubs be kept?

one yearPay stubs and bank statements (keep for one year) Credit card bills (shred after 45 days, unless you need it for tax or business purposes, or for proof of purchase) Home purchase, sale or improvement documents (keep for at least six years after you sell).

What should you not shred?

Be sure to lock up any important documents that you don’t shred, including birth and death certificates, adoption papers, marriage and divorce papers, citizenship papers, Social Security cards, tax-related documents, deeds and titles, and financial statements.

How do you destroy paper without shredding?

Pulping is a fairly labor-intensive, but highly effective way to get rid of old sensitive documents. For this method, you’ll need bleach and a tall, bleach-resistant trash can. Add a half gallon of bleach to the trash can. Bleach breaks down paper and destroys ink, so it’s great for rendering your documents unreadable.

Should you keep old Paystubs?

Store 1 year: regular statements, pay stubs Keep either a digital or hard copy of the past year’s worth of your monthly bank and credit card statements. … You should also hold on to pay stubs so that you can use them to verify the accuracy of your Form W-2 when tax season arrives.

Is it OK to throw away old bank statements?

You should probably keep hold of credit card and bank statements for a year but you can throw away other household paperwork like utility bills.

How long do I need to keep 401k statements?

In general, 401k plan records must be kept for a period of not less than six years after the filing date of the IRS Form 5500 created from those records. However, records necessary to a participant’s claim for plan benefits must be kept longer.

What do you do with old checkbooks?

To get rid of old checks, just use a shredder or other supervised destruction method. You generally aren’t liable if someone steals your checks and uses them fraudulently; however, you don’t want to give someone the opportunity to do so, either. No, you don’t need to notify your bank.

How long should you keep your bank statements?

one yearKey Takeaways. Most bank statements should be kept accessible in hard copy or electronic form for one year, after which they can be shredded. Anything tax-related such as proof of charitable donations should be kept for at least three years.

What papers to save and what to throw away?

When to Keep and When to Throw Away Financial DocumentsReceipts. Receipts for anything you might itemize on your tax return should be kept for three years with your tax records.Home Improvement Records. … Medical Bills. … Paycheck Stubs. … Utility Bills. … Credit Card Statements. … Investment and Real Estate Records. … Bank Statements.More items…•

How do I dispose of old check registers?

Instead of shredding them individually, you can contact a shredding service. Many office supply stores also offer to shred for outsiders. You can take your old checkbooks to their in-store print shops, and they will shred them in front of you.

Is there an alternative to shredding?

An easy alternative to shredding at home is to use a local paper shredding service. Check with your local UPS Store or FedEx to see if they provide this service. There are many recycle centers that will do this for you as well.

Can I throw away my pay stubs?

Just like businesses, it is important to keep your pay stubs until you are able to reconcile them with annual reports – that means you should keep your pay stubs for 6-7 years. It is important to keep records of your financial information, including pay stubs.

What paperwork do I need to keep and for how long?

You should always keep papers, like your birth certificate or other documents that prove your identity. Certain identification documents like passports and licences expire. You can dispose of these of once you have replaced them.

What should I do with old pay stubs?

In general, you should keep pay stubs for up to a year, then it’s considered safe to throw them away. Make sure you properly shred them so no one can get ahold of your old pay stubs and glean personal information you don’t want public.