Doctor's notices, bank statements, insurance policies – a lot of documents accumulate in the household over the years. But do you really have to keep them all?
Munich – There are quite a few folders with documents that are gathering dust on the shelf. The motto is often: Don't throw anything away. But is that really the case? Do you really have to keep all paper documents for eternity? The good news is no. For private individuals, however, there are still some documents that should not be disposed of under any circumstances. Others, on the other hand, can also be saved as digital copies and many paper documents can end up in the paper bin after certain deadlines have expired. Nevertheless, in case of emergency, it is always best to make backup copies and collect the most important documents in a folder.
Throw it away or store it? Some paper documents have to be kept for a lifetime. © IMAGO/Eva Blanco
Certificates, bank statements, receipts: Which documents you have to keep for a lifetime
All personal documents should be kept carefully – for a lifetime. This includes identification documents, birth and marriage certificates, and divorce documents. These documents are relevant when it comes to, for example, pension applications, inheritance matters and marriages. Documents related to social security, pensions and health insurance must also not be thrown away.
However, the situation is different with bank statements, tax assessments, invoices and receipts: These documents only need to be kept to a limited extent and can then be disposed of. Tip: To be on the safe side, make digital copies. Stiftung Warentest also recommends creating an "emergency folder" in which relatives can find all important documents in case of emergency.
These documents must be kept for a lifetime:
- Civil documents: birth certificates, marriage and divorce certificates, death certificates of relatives, certificate of leaving the church
- Medical reports
- Will, certificate of inheritance
- Documents for the calculation of pensions
- Graduation certificates (school, university, training), job references
- Social security card
- Proof of home ownership
Keep documents: Keep invoices and tax assessments for a few years
Not all documents have to be hoarded for a lifetime, but some should be put aside for a longer period of time. In particular, court documents such as case files, court rulings, but also dunning notices, credit documents and documents on insolvencies must be kept for 30 years.
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Tax assessments should be kept in paper or digital form for eleven years. These are important for all financial matters and for evidence to the tax office. For account statements, on the other hand, there is no obligation for private individuals to retain them. Stiftung Warentest recommends keeping them for up to three years in order to be able to prove payments. Invoices and leases should also be kept for three years, Chip.de also writes. Digital copies are sufficient here.
These documents can be disposed of in a timely manner:
- Two years
- Receipts (digital)
- Purchase contracts (digital)
- Receipts for home ownership (digital)
- Craftsmen's invoices (digital)
- One year (after receipt of the tax assessment)
- Payroll (digital)
- Income tax certificate (digital)
- Donation receipt (digital)
- Bank certificate of capital contracts (digital)
Keeping documents: Keep employment contracts and insurance policies for the duration of their contracts
As soon as a new job is started, the old employment contract no longer has to be kept. The following applies here: Keep the document for at least the entire term. Documents relating to financial products such as retirement provision and insurance should also not be disposed of before the end of the term. (eike)
