Detailed answer: steps to open an estate bank account in Iowa

1) Confirm you have legal authority to act for the estate

Before a bank will allow you to open an estate account, you typically must be the decedent’s appointed personal representative (executor or administrator). In Iowa that authority ordinarily comes from the probate court when the court issues Letters Testamentary (if there is a will) or Letters of Appointment/Administration (if there is no will). The Iowa probate code governs estate administration; see Iowa Code chapter 633 for statewide rules on appointment and powers of personal representatives: Iowa Code ch. 633.

2) Get the estate’s EIN from the IRS

The estate must have its own EIN for banking and tax reporting. The estate EIN is different from the decedent’s Social Security number. You can apply for an EIN for an estate using the IRS online application (recommended), by phone if international, or by mail/fax with Form SS-4. The IRS online EIN application page and guidance for estates and trusts is here: Apply for an EIN online (IRS) and Estates and trusts (IRS). When you apply, use the personal representative’s identifying information where the form asks for a responsible party.

3) Gather the documents banks commonly require

Most banks will ask for these items to open an estate account:

• Certified death certificate (original or certified copy; banks usually want a certified copy)
• Court-issued Letters Testamentary or Letters of Appointment demonstrating your authority as personal representative (certified copy issued by the clerk of court)
• The estate EIN confirmation from the IRS (CP 575 letter or online EIN acknowledgement)
• Photo ID for the personal representative (driver’s license, passport)
• The decedent’s will if requested (some banks ask to see the will when transferring certain accounts)

If the estate qualifies as a small estate under Iowa procedures, there may be alternative methods to collect assets without formal letters. Consult Iowa Code chapter 633 or the county probate clerk for small estate procedures.

4) How to name the account

Use a clear account name that identifies the estate and the personal representative. Common formats banks accept include:

• “Estate of [Decedent Full Name], by [Your Name], Personal Representative”
• “[Decedent Full Name] (Deceased), Estate — [Your Name], Executor/Administrator”

Ask the bank to print the exact account title you prefer on checks and statements.

5) Use the estate account only for estate funds

Once opened, deposit estate receipts (sale proceeds, dividends, final paychecks made payable to the estate) into that account and pay estate expenses (funeral bills, probate costs, taxes, creditor claims) from it. Do not commingle estate funds with your personal funds. Proper accounting will make probate and final distribution easier and reduce personal liability risk.

6) Tax and reporting considerations

After you open the account and begin administering the estate, be aware the estate may need to file a federal fiduciary income tax return (Form 1041) if the estate has gross income over the filing threshold. The IRS information for estates and Form 1041 is here: About Form 1041 (IRS). State tax filings may also be required—check Iowa Department of Revenue guidance or consult a tax advisor.

7) If the estate is small

Iowa has streamlined procedures for smaller estates that may allow certain assets to transfer without formal administration. If you believe the estate may qualify, contact the probate clerk in the county where the person lived or review Iowa probate rules (Iowa Code ch. 633) to learn the requirements and forms available. Even with a small estate route, banks have their own policies—some will accept a small estate affidavit, while others will still require court letters.

8) If a bank refuses to open the account

If a bank requires additional documentation, ask which specific documents they need and why. If you have court-issued letters and an EIN and the bank still refuses, consider trying another bank—policies vary—or consult the probate clerk or an attorney for assistance enforcing your authority as personal representative.

9) Closing the estate account

After you pay valid debts, file required tax returns, and distribute assets to heirs or beneficiaries according to the will or Iowa law, you will close the estate account. Keep complete records of receipts, disbursements, and distributions in case beneficiaries or tax authorities have questions later.

Key Iowa statute resource: Iowa Code chapter 633 covers probate and administration of estates; review it for statutory duties and powers of personal representatives: Iowa Code ch. 633 (Probate).

Disclaimer: This information is for educational purposes only and does not constitute legal advice. For advice about a specific situation, contact a licensed Iowa attorney.

Helpful hints

• Bring certified copies of the death certificate—banks usually will not accept photocopies.
• Obtain certified court letters from the county probate clerk; an uncertified copy may be rejected.
• Apply for the estate EIN online for fastest processing; you usually receive the EIN immediately.
• Ask the bank in advance what specific documents and formats they require—policies differ by institution.
• Open the account in the name of the estate, not in your own name, to avoid commingling funds and potential liability.
• Keep meticulous records: deposit slips, canceled checks, statements, and receipts for all estate transactions.
• If the estate will generate income (rent, investments) or has significant assets, consider consulting an accountant about Form 1041 and estate tax obligations.
• If you run into delays with probate or bank requirements, the county probate clerk can often explain local procedures and forms.
• If heirs disagree or if you are unsure of your duties, seek guidance from an Iowa probate attorney to reduce risk of personal liability.