February is “Archive Your Files Month”. Here are some tips to help you set up your files for the new year, know what to archive and what can be destroyed.

1. The first thing to do is assure you have the supplies you need on hand. Look at your file cabinet and make sure you have an adequate supply of hanging and manila folders, bankers’ boxes to store items to archive, label tape, and markers.

2. Go through each file, removing items from the previous year. If you kept a tax file, keep this handy for when you are ready to file your taxes, making a new one for the current year. If you didn’t, pull items needed to file taxes together in one folder, including donations, any medical info, etc.

3. Keep only those items that are necessary according to the records retention list, making piles of items to save and shred. (See some resource links below)

4. There are some files that should be permanent and kept in the current file drawer. These would include medical records and lab reports, insurance policies, auto purchase and repairs, and home improvements.

5. Once you have set up your original filing system you should be able to take the items you are keeping and place in manila folders (these can be reused, just turn inside out and clearly mark with a marker). It’s good to have a regular filing system that includes hanging folders for main items and manila folders within for sub categories. (i.e. Insurance is main category; car, home, life would be subcategories)

6. After your sort, place folders with the items you are archiving in a bankers’ box with the year marked clearly on the outside. If you combine years, place a colored folder in between so that the division is clear.

7. As you go through each item, it is a good idea to keep in your current files any items that are pending or will offer you information for the coming year. If you are on budget billing for utilities, for example, keep several months to assure that you are not being overcharged.

8. This is a great time to think about purchasing a safe if you don’t have one. You can keep important tax records, birth certificates, social security cards, passports, car titles, etc. in one place that is both water and fireproof.

9. After you have completed the job, make sure that all items with any personal information on them are shredded.

10. Finally, go through any warranties you have kept and make sure you still have the items, throwing out anything you no longer own to keep the file manageable.

Here are some helpful links about archiving your records:

• http://www.smead.com/hot-topics/records-retention-guidelines-1394.asp
• http://www.windes.com/images/pdfs/RecordRetentionGuidelines.pdf
• http://www.shrednations.com/articles/personal-records-retention.php