Understanding the Rules of Document Retention: A Guide for Sorting Administrative Documents

Dozens of administrative documents are sent to you each year. To sort them, it is essential to know the rules regarding retention periods.

Classifying and storing your administrative documents is sometimes a real headache. Account statements, invoices, pay slips, minutes, etc. The retention period for each paper depends on the field (insurance, banking, work, vehicle, etc.) and the type of document itself.

How long to keep documents? from what date? Is it possible to throw them away? To avoid destroying important documents or, conversely, being invaded by hundreds of papers that no longer have any use, here are the minimum retention periods to respect.

Bank documents: how long to keep them?

Are your account statements and credit card receipts piling up every month? Bank statements and check stubs must be kept for 5 years. The shelf life of bank card receipts, the printing of which is no longer systematic since August 1, is much shorter: it is possible to throw them away upon receipt of the corresponding account statement.

Have you taken out a real estate, consumer or personal loan? The contract and the amortization table must be kept for the entire duration of the credit, increased by two years from the last monthly payment.

Do you have a bank check? The check must be cashed within 1 year and 8 days of its receipt. If the check is older, it is no longer valid and therefore cannot be cashed. But the debt does not disappear.

Retention period for insurance documents

In terms of insurance, there are different document retention periods. Contracts must be kept for their entire validity period and then for 2 additional years. Due notices, invoices or receipts are kept for 2 years after the date of issue of the document. As for life insurance contracts, they must be kept for 10 years by the beneficiary of the insurance, as soon as he becomes aware of the contract.

Vehicle, repairs, PV: retention periods

In terms of vehicles, there are a certain number of documents:

• Tickets and fines must be kept for 3 years;
• Invoices for repair or purchase of the vehicle or equipment are kept for the entire period that you are the owner, then two years from the resale;
• The vehicle transfer certificate that you obtain when purchasing the vehicle must also be kept until its resale or destruction.

Work, unemployment and retirement: everything you need to know

Depending on your professional situation, the documents in your possession vary. If you have an employment contract, you must keep your pay slips, employment contracts and certificates until you retire. Expense reports are kept for 3 years.

If you leave a job (resignation, end of fixed-term contract, dismissal, etc.), the Ple emploi certificate must remain in your possession until unemployment benefit is granted. Concerning the balance of any account, the receipt is kept for 6 months if you signed it, or 3 years otherwise.

Once registered for unemployment, proof of payment of benefits must be kept for 3 years. However, it is recommended to keep them until retirement because they can be involved in the calculation of rights. Once retired, pension slips must be kept indefinitely.

How long to keep papers relating to taxes and duties?

Income declarations, tax notices and associated supporting documents (for example for actual costs) are kept for a minimum of 3 years. This deadline is shortened by one year for local taxes (housing tax and property tax), unless you benefit from a reduction or exemption. In the latter case, the opinions must remain in your hands for 3 years.