How Long Should I Keep My HSA Stuff?

When it comes to managing your HSA (Health Savings Account), it's essential to know how long you should keep your HSA-related documents and records. Keeping track of these documents is crucial for your financial health and making sure you have the necessary information available when needed. Here's a guide on how long you should keep your HSA stuff:

Documents to Keep:

• HSA Account Statements
• Receipts for Qualified Medical Expenses
• Contributions and Distributions Records
• Annual Tax Forms (Form 1099-SA and Form 8889)

How Long to Keep Them:

• HSA Account Statements - Keep all statements for at least five years.
• Receipts for Qualified Medical Expenses - Keep them for as long as the IRS can audit your tax return (usually three to seven years).
• Contributions and Distributions Records - Keep them until you file your taxes for that year and for at least three years after.
• Annual Tax Forms - Keep them indefinitely for your records.

By following these guidelines, you can ensure that you have easy access to your HSA information whenever you need it. Keeping your HSA stuff organized and retained for the appropriate duration can save you time and hassle in the long run.

When managing your HSA (Health Savings Account), it's important not only to understand how long to keep your documents, but also to ensure they're properly organized. By doing so, you can make the most of your account while staying financially prepared for any potential audits.