You should keep old checks if they support tax returns or major purchases (like a home), but can shred routine ones after verifying bank statements, generally holding tax-related docs for 7 years and property-related ones longer, while also shredding any check with personal info for security, as banks usually keep digital records for 7 years anyway. Destroying old checks protects against fraud by removing account details, so shred everything you don't need for records.
Shred used checks and bank statements unless you want to keep it as proof of payment for something. For instance, if you had large medical bills that you were able itemize on taxes and paid any of them by check, I would keep those checks and put them with a copy of my tax return in case of audit.
Short answer: Generally yes, but do it safely. Old checks contain personally identifiable and financial information that can be misused for identity theft, account takeover, or fraud if recovered by someone malicious. Dispose of them using secure methods and follow retention guidelines before shredding.
The IRS suggests employees keep pay stubs at least until they have verified their W-2 forms and filed taxes for the year. This can help confirm earnings and tax withholdings match with official records. It's wise to hold onto tax records for at least three years, according to the IRS.
It's a good idea to keep your check for 30 days or until you are sure that the full amount has posted to your account. After you have confirmed the deposited funds have been applied to your account correctly, destroy the check or mark it "VOID."
Home improvement receipts – Keep these receipts until you sell your home, since certain expenses may reduce your capital gains tax. Other tax records – like tax-related receipts and cancelled checks – Wait seven years before shredding.
You generally don't need to keep 20-year-old tax returns; the standard IRS recommendation is to keep most tax records for 3 years, but 6 years if you significantly underreported income (25% or more), or even indefinitely if you never filed or filed fraudulently. For most people, keeping records for 3-7 years covers standard audits, but if those returns are from a time you bought/sold property or have complex investments (like worthless securities), you might need them longer, so consider shredding or securely disposing of anything older than 7 years unless it's for property records.
You need to keep tax-related documents, bank/credit card statements, payroll records, sales records, and investment purchase/sale slips for 7 years to cover potential IRS audits, while records supporting tax deductions (like receipts, bills) should also go with your tax returns for that period; however, tax returns themselves and certain long-term asset records might need to be kept permanently.
After 180 days — or six months — personal checks are considered "stale." Financial institutions do not legally have to honor them, though some banks may have a more flexible policy. Other types of checks are valid for a year, and some don't expire at all.
Even if they're old statements, they should be shredded. Your name, address, phone number, and bank account information are in those statements, along with your habits, purchases, and banking history. Even if the account is closed, shred it anyway.
However, some banks do accept checks older than six months. And some issuing banks will honor expired checks as well. That means if you find a stale check made out to you, contact your bank and the check-issuing bank and find out their policies.
It is a common misconception that disposing of confidential papers in a regular trash can or recycling bin is a secure practice. In fact, this method should not be used to discard unneeded checks.
Depositing $2,000 in cash isn't inherently suspicious and is well below the $10,000 reporting threshold for banks, but it can raise flags if it's part of a pattern (structuring), inconsistent with your normal income, or involves other red flags like frequent large cash deposits from others, leading to a potential Suspicious Activity Report (SAR). To avoid issues, have clear records for the cash's source, like invoices or sales receipts, especially if you deal in cash often.
Keep Forever
Some people recommend keeping checkbook registers for at least 12 months in case “issues” (questions about payment) arise and because some checks may take a while to clear.
You can generally destroy tax records for years older than three years from the filing date, but keep them longer (up to 7 years) if you claimed a bad debt/worthless securities deduction or for employment tax records (4 years); keep indefinitely if fraud is suspected. The six-year rule applies if you underreported income by more than 25%. Always keep your actual tax returns (Form 1040) and supporting documents (W-2s, 1099s, receipts) for at least three years, but potentially much longer depending on your situation, especially for property records and retirement info.
At What Age Can You Stop Filing Taxes? Taxes aren't determined by age, so you will never age out of paying taxes. People who are 65 or older at the end of 2025 have to file a return for that tax year (which is due in 2026) if their gross income is $16,550 or higher.
Keep One Month
- Credit card statements can be discarded once you review your statement unless there are tax-related expenses on them. - Utility bills should be saved until the following month's bill arrives showing that your prior payment was received.
Basic rule: Keep tax returns and records for at least three years. The statute of limitations for the IRS to audit your return and assess taxes you owe is generally three years from the date you file your tax return.
Based on the three-year rule, in late April 2025, you'll generally be able to discard most records associated with your 2021 return if you filed it by the April 2022 due date.
9 Paper Documents You Should Keep Forever in Their Original Form