How Long To Hold On To Financial Records In Canada

How Long to Hold Paperwork

Is paper clutter taking over your home? Is it difficult to find important paperwork? Are you wondering just how long to hold on to financial records ?

If so, you’re not alone. Many people have a problem with paper clutter. But just how long do you really need to hold on to it all?

6 Years

Forever

  • Adoption Records
  • Auto/Home/Life Insurance Policy Information. Keep as long as the policy is still active and then shred.
  • Auto Records. Keep as long as you own the vehicle.
  • Birth Certificate
  • Death Certificate(s)
  • Divorce Agreement/Child Custody Orders
  • Investment Records
  • Marriage Certificate
  • Medical Records
  • Military Records
  • Pension Plan Records
  • Receipts for major home improvements. Keep until you no longer own the home.
  • Will and/or Power of Attorney

Store all of your financial paperwork in a cool, dry place.

We keep all of our monthly and forever files in a filing cabinet in our office. The paperwork that we need to hold on to for 6 years is in storage totes in our basement (it’s very dry down there and they are up off the ground). Extra important papers are locked in a safe.

Source: www.mrsjanuary.com

Category: Taxes

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