As a professional organizer, I am frequently asked by clients whether or not they need to shred paper that is being sent to the recycling bin.
In business, as in the residential setting, anything that identifies you and can be traced back to you via account number, address and the worst identifier – payment account number – must be shredded to protect your identity. You do not want this material wondering around once the the recycling material gets into the public domain i.e. out of your hands.
In addition, int he case of business, you must protect the identify of your clients. So, if your clients or their business with you, which, in most cases you are obliged to keep confidential, you must shred the material.
When in doubt, shred.