A file folder having front and rear panels, two side panels and a bottom panel which are joined to one another along foldable edges has an arrangement of fold lines which enable the folder to be readily moved between a fully opened condition for use and a collapsed condition for storage. The arrangement of fold lines includes a first fold line which extends across the front panel, and each side panel includes a second fold line which extends downwardly along each of the side panels from the top of the folder toward the bottom panel thereof. Each side panel further includes a third, fourth and fifth fold lines which extend from either an edge of the front panel or from a corresponding corner of the folder to a location at which the third, fourth and fifth fold lines intersect one another.