how long should one hold bank statements?
<answer> 3 years <context> 1 Bank Statements (Unless needed for tax purposes and then you need to keep for 3 years). 2  Quarterly Investment Statements (Hold on to until you get your annual statement). 3  Income Tax Returns (Please keep in mind that you can be audited by the IRS for no reason up to three years after you filed a tax return. Utility Bills (You can throw out after one year, unless you're using these as a deduction like a home office --then you need to keep them for 3 years after you've filed that tax return). 2  Cancelled Checks (Unless needed for tax purposes and then you need to keep for 3 years).