After paying credit card or utility bills, shred them immediately. Also, shred sales receipts, unless the items purchased have warranties. Sales and cash withdrawal receipts from ATM's, junk mail credit card offers.
Credit card statements and utility bills are documents that should be high on anyone's list for shredding. Bills of that nature tend to have very sensitive information. So once payment is confirmed and you no longer need to reference that bill, make sure the document is destroyed.
Expired credit and identification cards including driver's licenses, college IDs, military IDs, employee badges, medical insurance cards, etc. (If your shredder can't handle plastic, cut up cards with a scissors before discarding them.) Expired passports and visas.
Paper shredders increase security risks. You shred your documents to prevent identity theft and maintain the confidentiality of your information. But your paper shredding machine doesn't offer the most secure method for completely destroying confidential information. ... Document destruction equipment and facilities.
Knowing that, a good rule of thumb is to save any document that verifies information on your tax return—including Forms W-2 and 1099, bank and brokerage statements, tuition payments and charitable donation receipts—for three to seven years.
According to the Federal Trade Commission, you should shred documents containing sensitive information, including bank statements, to protect yourself from identity theft.
While household bills and bank statements should be kept for at least two years, and insurance documents as long as they are valid.
Hold the returns and supporting documents for at least seven years. The IRS can randomly audit you three years after you file — or six years afterward if it thinks you skipped out on reporting your income by at least 25%.
Keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later, if you file a claim for credit or refund after you file your return. Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction.
In order to protect your employees, your customers, and your business, it's essential that you shred documents when they're no longer needed. When these documents are still in your possession, it's important that you store them in a safe and protected location.
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.
Because of the risk of fraud, you should be careful about how you throw away credit card statements you no longer need. Simply tossing them in the trash is unsafe because it leaves too much of your personal information exposed; they need to be completely destroyed.
Most experts suggest that you can shred many other documents sooner than seven years. After paying credit card or utility bills, shred them immediately. ... After one year, shred bank statements, pay stubs, and medical bills (unless you have an unresolved insurance dispute).
Comparing your EOBs to your monthly statements is a good way to understand what you are being charged for, and it gives you another opportunity to look for overcharges. Unlike medical bills, EOBs should be kept from three to eight years after your procedure, or indefinitely if you have a reoccurring condition.
You really should keep things like titles, deeds, mortgage statements and even insurance policies for as long as you own your property (or the life of the loan). And once you say hasta la vista to that mortgage payment and your home is paid off, you'll still want to hold on to those documents for at least 10 years.
Life insurance policies should be stored indefinitely and all other insurance documents should be stored safely for as long as the policies remain active.
Can I throw away old insurance policies? When you receive your new policy in the mail each renewal, you can discard the old one. However, keep billing statements and the declarations page and make sure you have your auto insurance card whenever driving.
Keep canceled checks for one year unless you need them for tax purposes. Refer to them when you reconcile your accounts each month so you know what has cleared. If your bank does not return your canceled checks, you can request a copy for up to five years.
Home, auto and umbrella policies - Keep until you get your new policy. For auto insurance, most states accept electronic versions of your insurance card, but it may also be smart to keep a printed version in your glove compartment.
Minute particles can get into the lungs of business workers causing irritation and short term health problems like eye and chest infection, leaving them with no choice but to take time off work.
Reputable Mobile Shredding Services are Insured in the Millions of Dollars. Secure shredding has its risk in any industry. To protect every party, reputable companies that shred carry insurance. These policies often number in the millions of dollars.