What documents should be shredded?

What documents should be shredded?

Documents that should be shredded include:

• Financial Statements.
• Medical Records.
• Legal Documents.
• Receipts & Invoices.
• Payroll Records.
• Bank Statements.
• Tax Records.
• Contracts.

When should you destroy documents?

Shredding documents is the main way to protect yourself from identity theft. As a general rule, there are certain documents that absolutely should be shred. This includes anything that has account numbers, birth dates, maiden names, passwords and PINs, signatures, and Social Security numbers.

How long keep Social Security statements?

NOTE: A payee must save records for at least two years plus the current year and make them available to SSA upon request.

Why is shredding not a good idea?

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.

What should you not shred?

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.

What records need to be kept for 7 years?

Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction. Keep records for 6 years if you do not report income that you should report, and it is more than 25\% of the gross income shown on your return. Keep records indefinitely if you do not file a return.

What documents do I need to keep?

What Financial Documents Should You Keep Forever?

• Birth certificates.
• Social Security cards.
• Marriage certificates.
• Adoption papers.
• Death certificates.
• Passports.
• Wills and living wills.
• Powers of attorney.

Do paper shredders really work?

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.

Is it safe to throw away mail with address on it?

Before you toss out any mail or documents containing your personal information (name, address, account numbers, etc.), run those papers through a paper shredder first. …

What personal records should be kept permanently?

To be on the safe side, McBride says to keep all tax records for at least seven years. Keep forever. Records such as birth and death certificates, marriage licenses, divorce decrees, Social Security cards, and military discharge papers should be kept indefinitely.

Is there any reason to keep old bank statements?

Keep them as long as needed to help with tax preparation or fraud/dispute resolution. And maintain files securely for at least seven years if you’ve used your statements to support information you’ve included in your tax return.

How long keep Medicare records after death?

Since Medicare and Social Security records are so important and do not take up much space, it’s best to stay on the safe side and hold onto them for at least six years.

What happens to your medical records after shredding?

It’s important to know what happens to your medical documents after shredding, both for environmental and compliance reasons. Typically, the shredded waste is recycled. A reputable medical record shredding company should provide you with a Certificate of Destruction (COD) to document the disposal for your compliance records.

Can I shred my old Social Security cards?

• Do not shred original Social Security cards, birth certificates, mortgage paperwork, deeds or wills. However, some experts recommend shredding unneeded photocopies of those documents.

What documents should be shredded for free?

Q. What documents should I shred? A. Start by shredding junk mail and old papers that carry your Social Security number (but don’t destroy your Social Security card), birth date, signature, account numbers, passwords or PINs. Shred deposit slips and ATM and credit card receipts immediately after you get your monthly statements.

What not to shred in the office?

What not to shred: • Do not shred original Social Security cards, birth certificates, mortgage paperwork, deeds or wills. However, some experts recommend shredding unneeded photocopies of those documents.

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