Receipts back up every deduction, expense claim and sales tax credit on a return. Both the Canada Revenue Agency and the IRS can ask to see them long after you file, and a claim without the receipt behind it can be denied.
Canada: six years
The CRA requires businesses and self-employed people to keep records and supporting documents, receipts included, for six years from the end of the last tax year they relate to. A receipt for a purchase in March 2026 supports the 2026 return and should be kept until the end of 2032.
Some records are kept longer, for example if a return was filed late, if you are objecting to an assessment, or for records about assets you still own. If in doubt, keep it.
United States: three years, with exceptions
The IRS's general rule is to keep records for three years from the date you filed the return. The exceptions are what catch people out:
- Six years if you did not report income you should have, and it was more than 25% of the gross income on the return.
- Seven years if you claim a loss from worthless securities or a bad debt deduction.
- Four years for employment tax records.
- Indefinitely if you did not file a return, or filed a fraudulent one.
What a receipt has to show
A card statement shows the merchant and the total, and almost nothing else. Tax authorities and expense policies want the receipt itself: the date, the seller, what was bought and the tax charged. In Canada, claiming GST/HST back on a purchase of $100 or more also needs the supplier's GST/HST registration number on the receipt.
Do digital copies count?
Yes, in both countries, as long as the copy is complete and readable and you can produce it when asked. A clear scan or the merchant's own digital receipt is acceptable. A blurry photo with the total cut off is the most common reason a digital record fails. Keep the backup somewhere that will still exist in six years, not only on one phone.
Make keeping them automatic
The hard part is not storing receipts for six years, it is catching each one when it arrives. Emailed receipts can be collected as they land with email receipt capture, paper ones can be photographed in the Smartbills app, and tax receipts keeps the ones your accountant needs in one file.