Hi,
I am trying to find out as per best practices how long should one hang onto their bank statements.
I mean, if you have 3 bank accounts with different banks, over the past 4 years I have so many statements.
what does everyone do?
I heard it, it needs to be store upto 7 yrs as per rules after that you can distroyed it, but i am not sure, may someone know can put more light on this.
Quote:
Originally posted by RBO
I heard it, it needs to be store upto 7 yrs as per rules after that you can distroyed it, but i am not sure, may someone know can put more light on this.
There is no such rule to preserve bank statements, what CRA asks you to keep your T4s, T5s, etc. for 6-7 years.
As far as bank statements are concerned you can print from internet banking or get by walking into a branch in case you need those past statements for some reason.
Hope this helps.
Quote:It may not be that easy.
Originally posted by desi-friend
As far as bank statements are concerned you can print from internet banking or get by walking into a branch in case you need those past statements for some reason.
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
Quote:
If having your historical statements is of concern to you, the best and safest bet is to allocate a small corner in your garage or basement to store past statements.
Quote:
Originally posted by frnd
Is scanned copy considered as a valid statement (in case of ebanking .pdf)?
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