How Long to Keep Tax Returns, Bank Statements and Other Records
Enter the date you filed a return or received a statement, and see how long each common household and small-business record should stay in the drawer.
Dana WhitcombLast checked | Keep for | 3 years |
|---|---|
| Keep until at least | April 15, 2029The IRS can usually assess more tax for 3 years after filing. |
| Then | Shred anything with account numbers or your Social Security number; recycle the rest. |
General information based on IRS guidance on keeping records, not tax or legal advice. State rules, audits, lawsuits and special situations can require longer; ask a tax professional when in doubt.
For most households the answer is three years. The IRS can normally assess additional tax for three years after you file, so the records behind a federal return (W-2s, 1099s, receipts, proof of deductions) stay until that window closes. A few situations stretch the period to four, six or seven years, property records stay as long as you own the property and then some, and a handful of documents should never be thrown out. The calculator above turns those rules into dates.
This is general information drawn from IRS guidance, not tax or legal advice. State rules differ, and anyone with a business, an unusual return, an audit or a dispute should check with a tax professional before shredding anything.
How to use the tool
Enter the date that starts the clock. For a tax return, that is the date you filed. A return filed before the deadline counts as filed on the due date, so if you filed in February, enter April 15. For statements and bills, use the statement date. The tool lists each record type with its keep-until date, the event that starts its clock and a one-line reason. Permanent rows have no end date.
Read the date as the earliest point you may destroy something, not a deadline.
What the tool covers
| Record | Keep for | Clock starts |
|---|---|---|
| Federal tax return and supporting records (normal case) | 3 years | Date filed, or the due date if later |
| Tax records if income was under-reported by more than 25% | 6 years | Date filed |
| Tax records for a bad-debt deduction or worthless securities | 7 years | Date filed |
| Employment tax records (if you employ people) | 4 years | Date the tax was due or paid, whichever is later |
| Records for property you own (purchase, improvements) | While owned, then 3 years | Date you file the return reporting the sale |
| Bank statements | About 1 year | Statement date, unless one supports a tax return |
| Credit card statements | About 1 year | Statement date, unless one supports a return or a warranty |
| Pay stubs | About 1 year | End of the year, once checked against your W-2 |
| Utility bills | About 1 year | Bill date (longer if used for a home-office deduction) |
| Birth, marriage and death certificates, passports, wills, deeds, adoption and military records | Permanently | No end date |
How it works
The tool adds the retention period, in whole years, to the date you enter. The periods come from the federal period of limitations as the IRS explains it on its "How long should I keep records?" page and in Publication 583, Starting a Business and Keeping Records. Three years is the normal assessment period. It becomes six years if you leave out income worth more than 25% of the gross income shown on the return, and seven years for a claim involving a bad debt or a worthless security. Employers keep employment tax records for at least four years.
The one-year rows are not IRS rules but common practice: once a statement is reconciled and supports no return, dispute or warranty, the paper has done its job.
Worked example
Say you filed your federal return on April 15, 2026, the tool's default date.
- Supporting records for that return: keep until April 15, 2029 (3 years).
- If income was under-reported by more than 25%: 6 years, to April 15, 2032.
- If the return claimed a bad-debt deduction or worthless securities: 7 years, to April 15, 2033.
- Employment tax records, for a household employee or a small payroll: 4 years.
- Records for a house or shares you still own: while you own them, plus the period for the return that reports the sale.
- Bank and credit card statements and pay stubs: about 1 year, unless one supports the return, in which case it joins the tax file.
- Vital records such as birth certificates, passports, wills and deeds: permanently.
When and how to shred
The keep-until date is one condition, not the only one. Nothing goes while an audit, insurance claim, sale, refinance, divorce or estate is open, whatever the calendar says. Organizations formalize this as a legal hold within their retention schedule; our piece on writing a retention schedule departments will actually follow explains how.
Anything with an account number, a Social Security number, a signature or tax detail should be shredded, never recycled whole. A cross-cut shredder rated P-4 or higher under DIN 66399 is a sensible minimum for financial paper; strip-cut ribbons can be pieced back together. For a yearly clear-out of several boxes, a shredding service or a community shred day is faster. Businesses should ask for a certificate of destruction.
Scans count too. A scan of a shredded record carries the same keep-until date, so delete it when the time comes. Keep permanent originals in a fire-resistant box or a safe deposit box, with copies stored elsewhere.
Limits
- If you did not file a return, or filed a fraudulent one, there is no time limit.
- A refund claim has its own window: 3 years from filing or 2 years from paying the tax, whichever is later.
- Some state tax agencies have longer periods than the IRS. Check your state.
- Businesses keep contracts, minutes, personnel files and licenses for reasons beyond tax. The tool covers the tax baseline only; to size the boxes that result, try the records box calculator.
Frequently asked questions
How long should I keep my tax returns?
Keep the supporting records at least three years after filing, longer in the cases above. The IRS also suggests keeping copies of the returns themselves, which help with future and amended returns, and many people keep those indefinitely.
How long should I keep bank statements?
About a year once reconciled, unless a statement supports a tax return. Those go into that year's tax file.
Can I keep scanned copies instead of paper?
For most household records, yes, if the scans are complete, legible and backed up. Keep paper originals of certificates, deeds and wills. A business using an electronic recordkeeping system should confirm the details with a tax professional.
What should I never shred?
Birth, marriage and death certificates, passports, wills, deeds, adoption papers and military discharge records, plus records for property you still own and anything tied to an open audit, claim or dispute.