How long do YOU keep bank statements?

[MikeF]

"For personal income taxes, the Assessment Statute of Limitations is 3 years from the date the tax was originally assessed (usually when the taxes were filed), except in cases of fraud. If they can prove fraud, there is no limitation."

So, if you haven't "really" done anything wrong, probably only 3 years. If you've lied and committed fraud, you're hosed. :nono:

[Mac1337]

There is nothing of note in my bank statements. Who wants to see my grocery and geas expenditures 7 years from now? I only keep documents that have tax implications and they are only handful every year.

[AlphaDog]

voodoopenguin wrote: I have no problem with storage, one envelope can keep all my bank statements from several accounts for a year and then once a year I take the oldest envelope and stick it on the fire. Easy.

A man after my own heart; I use a similar method. Every year I know exactly what can be shredded without any need to review, and that gets done at the same time I'm packing up the ones from the year just ended.

[tronnei]

Last 12 months.

It's all on Quicken anyway, so I probably don't even need that much.

[freeradical]

I shred my bank statement the day I get it.

[volcs0]

^^ same ^^ Shred immediately.

Why keep anything that is available online any time you want it?

For most of my accounts, I've converted over to electronic only statements.

[Bill in NC]

Banks can always order your statement for a fee.

Some people buy scanners to scan into PDF anything they can't get electronically (be sure to back those up to something like Mozy)