by 
The Curious Bag
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<h4 class="dechead">On One Hand: Keeping Financial Records Is Important
The Federal Trade Commission (FTC) recommends you keep duplicate or canceled checks anywhere from one year to eternity, but the minimum recommendation is usually six years. One situation that may require canceled checks is one where a mortgage lender files for bankruptcy or goes out of business and you need to transfer your mortgage to another lender.
On the Other: You Don't Need to Keep All Records Long-Term
It is not necessary to keep duplicate or canceled checks unrelated to business expenses, mortgage payments, taxes and home improvements. Dining expenses and retail store purchases beyond the return or exchange period, for example, are unlikely to have long-term importance
Bottom Line
Use discretion when shredding any financial documents. It may be wise to set up a filing system for your duplicate or canceled checks that can be used in 6 to 10 year increments. All records of long-term importance should be kept separate from those that will be shredded.
Source:
Organize your important papers
What financial records to keep
More Information:
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