“How long do I keep paid bills for?”
Certainly, you have already asked yourself that question, or at least heard it from someone. Well, it is natural that we take great care to store the payment slips, since they are the official proof of the payments we make.
In this process of how long to keep paid bills, there is a catch: each account and / or expense has a specific term to be kept. It is not for nothing that this question generates so much doubt in the mind of the UK residents consumer, who wants to keep up to date and on good terms with its service providers.
Thinking about it, we prepared this post, where we will explain for how long to keep paid bills. We have also put together some tips to help you organize your home documents. Here are some examples of what we will see, shortly:
- How long do you keep paid bills for ?;
- Consumer accounts;
- Rental payment receipts;
- Credit card bill;
- Labor benefits
- How to streamline the process of storing paid accounts?
How long do I keep paid bills for?
As we have already said, the most objective answer is also not very conclusive: It depends.
But calm down, it’s easy to understand why. Each of them has a different relationship with the consumer and with the accountability that we normally have to do.
That is why many tax documents must be kept for years, while some basic daily expenses accounts do not require much storage time, such as the electricity bill.
But we will not go ahead with answers, as there is still much to be explained. To make it easier to understand, we’ll target the topics below with specific types of documents.
Consumption bills, such as water, electricity and telephone, among others, can be discarded as soon as the providers of these services forward the annual statement of debt discharge. This occurs annually, always in the month of May according to the law federal 12.007 / 09 and also according to the laws of each state in the country.
This declaration can occur either on the next invoice, informing the consumer of the default or the identification of active debts, or by means of a specific document to notify you.
As soon as you receive this type of communication, your answer to the question “how long to keep paid bills” is solved, and the monthly documents can be discarded, being necessary to keep only the annual debt discharge statement for each year.
>>> To avoid accumulated debts, we have an article with simple and efficient tips for you who want to cut expenses. Be sure to read! <<<
Insurance proposals and also the respective service policies – be it vehicle, personal or residential, among others – must also be kept for a period of one year. However, here’s the difference: this period should only be counted from the end of the policy term.
For two years, at least. This is the amount of time you must keep paid bills related to traffic violations.
Now, when we’re talking about offenses already settled, the period extends to three years.
Rent payment receipts
Any receipt of rental property prior to the date of 11/01/1993 must be kept in a safe place for 20 years in accordance with the Civil Code of 1916.
Taking advantage of the motionless subject, it is also worth pointing out the following situations and the respective deadlines:
- only discard the rental agreement three years after the return of the property keys (and only count from the receipt of the rental extinction term);
- proof of payment of each installment of the financed property must be kept until the change of ownership takes effect at the Property Registry.
Credit card bill
Keep it filed in your documents for the period of five years.
It is understood by taxes, the annual taxes such as Income Tax and IPTU and IPVA. The period of conservation of these documents is five years.
In the case of the IRRF, any supporting document must also be kept for the same period.
Although they are not accounts, there is a common need to keep this documentation for a long time. For organizations, this translates into many problems if deadlines are not respected.
Small, medium and large companies have the same need to know how long to keep paid bills. The distinction here is in the volume of archived material, only.
It is worth keeping an eye, then, on some deadlines for the conservation of these documents, and they vary according to the need and the origin of these documents. Take a look, just below:
- payrolls and labor and social security data systems must be maintained for ten years;
- supporting documents for retirement, with the EHIC, must be filed by 20 years;
- FGTS, GFIP and GRFC must be maintained for 30 years.
Also with regard to labor documentation, an employee’s employment contract and registration must be maintained indefinitely. That is: forever.
How to streamline the process of storing paid accounts?
How about we talk about what can be done to make the process of keeping paid bills less dull and bulky?
Follow our tips, below, and relieve the amount of paper accumulated inside the house:
- request the documents in digital version (when possible). So, just create a storage folder in your email and get rid of the pile of papers;
- scan the documentation. As much as you may not be able to get rid of all the paperwork, at least you have an extra guarantee in case the materials are lost;
- save purchase invoices. They can be very useful if you have to activate the insurance or request a return of the product.
If you need extra help, be sure to also check out our article that explains how to organize accounts!
Now that you know how long to keep paid bills for, how about taking this information forward? To do this, just share our post on your social networks!