Is there any reason to hold on to 401(k) brokerage statements?
I have been holding on to my regular brokerage statements since forever. A few years ago I started using the 401(k) brokerage that was allowed by my ex-employer. Since that is all pre-tax/tax-deferred money, do I even need to worry about holding on to historical statements?
Thanks, Anoop
Probably not for tax purposes. But maybe for overall investment tracking, payment of investment fees, etc.
There is also that pesky rule about wash sales between regular and tax-deferred accounts, but it's unlikely in my opinion that old statements are going to matter.
The general rule for any property you own, is to keep records for the entire time you own it, and up to seven years after you dispose of it. So, if you want to be very conservative, follow the general rule.
you don't know what the law will be at any point in the future, so you don't know if the historical data will be useful at some point in the future.
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