How to Open an Estate Bank Account in Connecticut Using an IRS EIN

Detailed Answer — Opening an Estate Bank Account in Connecticut Using an IRS EIN

This answer explains, in plain language, the usual steps to open a bank account for a deceased person’s estate in Connecticut using the estate’s Employer Identification Number (EIN) from the IRS. This is a general roadmap; your probate court or bank may require additional items based on the specific facts.

Overview

When a person dies, their money and property typically belong to the estate until distributed to heirs or beneficiaries. To handle estate funds safely you will usually open a separate estate bank account (sometimes called an “estate account” or “fiduciary account”). Banks will not allow a personal account to be used as an estate account because that mixes estate assets with personal funds and creates legal and tax problems.

Who can open the account?

Only the person legally appointed to manage the decedent’s estate — the executor named in the will or an administrator appointed by the Probate Court — can open an estate account in the estate’s name. In Connecticut that appointment is made by the Probate Court and is shown by official letters or a certificate issued by the court.

Step-by-step process

1. Locate the will (if there is one) and contact the Probate Court.

   If the decedent left a will, file it with the probate court in the district where the decedent lived. The Probate Court starts the formal process of appointing a fiduciary (executor or administrator). Connecticut Probate Court information: https://www.jud.ct.gov/probate/. For general state statutes and rules on probate matters, see the Connecticut General Assembly site: https://www.cga.ct.gov/current/.

2. Get formally appointed by the Probate Court and obtain Letters.

   The court will issue documentation (often called Letters Testamentary, Letters of Administration, or a certificate of appointment) that proves your legal authority to act for the estate. Banks will generally require a certified copy of these letters before they will allow you to open an estate account.

3. Obtain an EIN for the estate from the IRS.

   Once appointed, the executor/administrator should get an Employer Identification Number (EIN) from the IRS for the estate. The estate uses its EIN for bank accounts and for filing any estate income tax returns. The IRS provides an online application and instructions for Form SS-4: Apply for an EIN. You can also apply by mail or fax if you prefer. Use the estate’s name and list the fiduciary (executor/administrator) as the responsible party.

4. Gather documents the bank will need.

   Most banks require the following to open an estate account:

   • Certified copy of the court-issued letters or certificate of appointment from the Connecticut Probate Court.
   • Death certificate for the decedent (official certified copy).
   • Estate EIN (the letter or confirmation from the IRS showing the EIN).
   • Photo ID for the fiduciary (driver’s license or passport).
   • A copy of the will (if applicable) — some banks request this; others do not.
   • Bank-specific forms, signature cards, and possibly a bank resolution naming authorized signers for the account.
5. Open the account in the estate’s name.

   Bring the documents above to the bank. Ask for an “estate account” or “fiduciary account” established in the name of “Estate of [Decedent’s Full Name], by [Your Name], Executor/Administrator.” Provide the estate EIN rather than the decedent’s Social Security Number. The bank will create the account and provide account documentation. Do not deposit estate funds into your personal accounts.

6. Use the estate account only for estate business.

   Pay estate expenses (funeral costs, debts, taxes, administration costs) from the estate account. Keep careful records and separate the estate’s money from your own. This recordkeeping is essential for the Probate Court and for any estate tax or income tax filings.

Tax and reporting considerations

The estate EIN is used to file any required federal estate income tax returns (Form 1041) and sometimes state returns. If the estate generates income (interest, dividends, rental income) after the date of death, the estate may have to file federal Form 1041. See IRS guidance on fiduciary returns and EINs: https://www.irs.gov/ and the EIN online application page linked above.

Common bank requirements and variations

Policies differ by bank. Typical variations include:

• Some banks require a fully certified copy of the letters of appointment (not a plain photocopy).
• Large banks may have special fiduciary account departments with standard forms; smaller banks may be more flexible but still require official Probate Court documentation.
• If the estate is small, some banks will accept a certified small-estate affidavit in lieu of letters — but this depends on Connecticut law and the bank’s policy. Check with the probate court and the bank before relying on such alternatives.

When you may not need an estate account

If all assets are jointly owned in a way that passes automatically to the surviving owner (joint tenancy with right of survivorship or payable-on-death accounts), or if a probate-required appointment is not needed because the estate qualifies for a simplified process, you may not need to open a separate estate account. Do not assume — confirm with the Probate Court and the bank.

Connecticut-specific authority and help

Connecticut handles fiduciary appointments and probates in the Probate Courts. For forms, filing locations, and local practice, contact the probate district where your parent lived or see the Connecticut Judicial Branch probate page: https://www.jud.ct.gov/probate/. For state statutes and further legislative text concerning probate and fiduciary duties consult the Connecticut General Assembly site: https://www.cga.ct.gov/current/.

When to get legal help: If the estate is complex (real property, business interests, contested will, significant debts, or tax issues), or if the bank or probate court raises issues you do not understand, consult a Connecticut probate attorney. They can help you obtain the necessary documents, advise on fiduciary duties, and reduce the risk of personal liability.

Disclaimer

This article is for general informational purposes only and is not legal advice. It does not create an attorney-client relationship. For advice about your particular situation, contact a licensed Connecticut probate attorney or your local Probate Court.

Helpful Hints

• Get certified copies of letters from the Probate Court — banks usually insist on certified documents, not plain photocopies.
• Apply online for the estate EIN immediately after your appointment to avoid delays; the IRS online EIN application is the fastest method: IRS EIN application.
• Keep all estate funds in the estate account. Never deposit estate checks into your personal account or use estate money to pay personal bills.
• Keep detailed records of every deposit and withdrawal, including copies of checks and receipts. Good records make final accounting to the Probate Court much easier.
• Ask the bank about fees and whether they have a fiduciary/account for estates; some banks charge additional fees for estate accounts or require a minimum balance.
• If heirs want interim distributions, do not make them until debts, taxes, and administration costs are addressed and the probate court allows distributions (or you have written consent from all beneficiaries in straightforward cases).
• If the estate is small, check with the Connecticut Probate Court about simplified or small-estate procedures before spending time and money on full probate and account setup.
• When in doubt, call the local probate court clerk and the bank beforehand to confirm exactly which documents they will require.