Financial Perspectives

From the Planner’s Desk: Record Retention

The new year is a great time to clean up files and prepare for 2011 tax reporting.

If you want to clear out your paper files, electronic versions of your account documents are available through Investor Access, accessible at raymondjames.com/investoraccess.

Investor Access offers electronic documents in Adobe PDF format so you are able to save documents directly to your own computer or print them.

The following lists how long common documents are generally maintained in Investor Access:

  • Statements – 20 years
  • Tax documents – 20 years
  • Trade confirmations – 6 years
  • Other correspondence from Raymond James – 6 years

Note: Some documents may not be available for the full time listed if online archives were not available when they were originally generated.

Documents Deserving Extra Protection

You will want to keep critical documents and records safe and secure, but accessible in a time of need. Some of these are too important to retain in an ordinary file drawer. Retain such items in a safety deposit box or home safe adequately rated to protect contents.

These documents include:

  • Property deeds
  • Trust documents
  • Insurance policies
  • Automobile titles
  • Stock and bond certificates
  • Wills and estate plans
  • Personal property inventory
  • Marriage and birth certificates
  • Military discharge papers
  • Passports

Other tips:

  • Make backup copies of all computerized records
  • Save all essential records, receipts and documents that your budgeting system requires
  • Keep records as long as appropriate and discard those no longer needed

Asset allocation does not guarantee a profit nor protect against loss.

Raymond James & Associates, Inc. and Raymond James Financial Services, Inc. are wholly owned subsidiaries of Raymond James Financial, Inc. (NYSE-RJF).

The information contained in this newsletter has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. We may, from time to time, have a position in the securities mentioned and may buy or sell such securities in the course of regular business.