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Author: StockSleuth Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121219  
Subject: Old IRA Statements - How Long Keep? Date: 5/9/2005 1:17 AM
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Is there any reason to save traditional IRA or Roth-IRA account statements for time periods no longer falling within potential IRS/state audit deadlines?

It doesn't seem necessary to save them for purposes of documenting trade lots, dates, or cost basis information since transactions within IRAs are non-taxable.

OTOH, should the last few years' statements be saved as *proof* contributions were actually made or Required Minimum Distributions were actually taken? (Assuming taxpayer is making contributions or receiving RMDs.)

Any thoughts on this? Anyone had to dig out old statements for some reason or other?

I'd like to fire up the paper shredder.

P.S. If it makes any difference, I am not married, so I don't have any *issues* re. valuations, who contributed what or when, etc. during marriage.




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