Step-by-step guide to opening an estate bank account in Virginia using an IRS EIN

Short answer: In Virginia you usually need to be the court-appointed personal representative (executor or administrator) or otherwise have legal authority (for example, a small‑estate affidavit may apply) before a bank will let you open an estate account. After you have that authority, obtain an Employer Identification Number (EIN) for the estate from the IRS and take the EIN, certified letters from the circuit court, and a certified death certificate to the bank. This article explains each step and the documents you will likely need.

Detailed answer — what to know and do

1) Decide whether probate (formal administration) is required

Not every asset needs a full probate. Accounts with a named beneficiary, joint accounts with right of survivorship, and certain small estates may transfer outside of probate. If the deceased owned assets that require a court-supervised transfer (for example bank accounts titled only in the decedent’s name, real estate with no transfer-on-death beneficiary, or significant assets), the circuit court in the county where the decedent lived will issue letters appointing a personal representative. For general information about probate in Virginia, see the Virginia courts probate page: https://www.vacourts.gov/courts/circuit/probate/index.html and the Virginia Code, Title 64.2 (Wills, Trusts, and Fiduciaries): https://law.lis.virginia.gov/vacode/title64.2/.

2) Get authority from the circuit court: Letters Testamentary or Letters of Administration

If the decedent left a will, someone must present the will to the clerk of the circuit court and petition for probate. If there is no will, an interested person petitions to be appointed administrator. The court will issue Letters Testamentary (if you are named as executor in the will) or Letters of Administration (if there is no will or the named executor cannot serve). Banks generally require a certified copy of the court-issued letters to prove your legal authority to act for the estate. See Title 64.2 for the Virginia rules governing appointment and duties of personal representatives: https://law.lis.virginia.gov/vacode/title64.2/.

3) Obtain an EIN for the estate from the IRS

Most banks require an EIN (Employer Identification Number) for an estate account. The estate EIN is used for bank reporting and any income tax returns the estate must file (Form 1041 for income tax on estate-generated income). Apply for an EIN after the personal representative is appointed. The IRS provides steps and the online application here: https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online and general estate and trust tax information here: https://www.irs.gov/businesses/small-businesses-self-employed/estate-and-trust-tax-information.

How to enter names on the SS-4 (common practice):

• Legal name field: “Estate of [Full name of decedent]”
• Responsible party: the personal representative’s name and SSN
• Reason for applying: “Probate of estate” or similar

Note: the IRS will issue an EIN confirmation (a CP 575 notice or an EIN verification letter) you can show the bank. You can apply online (instant EIN in most cases) or by mail/fax if necessary.

4) Open the estate bank account

Take to the bank:

• Certified copy of the Letters Testamentary or Letters of Administration issued by the circuit court
• Certified death certificate (original or certified copy)
• IRS EIN confirmation (or the EIN number) for the estate
• Your government ID (driver’s license, passport)
• Sometimes the decedent’s will or other documents the bank requests

Banks differ in procedures and documentation. Ask the bank in advance what they require. Name the account clearly (typical format: “Estate of [Decedent Name], by [Your Name], Personal Representative”). Keep estate funds separate from your personal funds to avoid allegations of commingling.

5) Use of the estate account

The estate account holds assets while debts are paid, taxes are filed, and beneficiaries are identified and paid. Use it to pay funeral costs, creditor claims, taxes, and administration expenses. Keep careful records of all receipts and expenditures; you will need them for an estate accounting and tax filings.

6) Taxes and final steps

The estate may need to file the decedent’s final individual income tax return (Form 1040) and, if the estate earns income after death, an estate income tax return (Form 1041). If federal estate tax or state estate tax may apply, consult a tax advisor. You can find general IRS guidance on estates and trusts here: https://www.irs.gov/businesses/small-businesses-self-employed/estate-and-trust-tax-information.

When debts and taxes are paid and assets are distributed according to the will (or Virginia intestacy law if there is no will), the estate account is closed.

Helpful hints

• Call the clerk of the circuit court in the decedent’s county for local probate procedure and to obtain certified copies of Letters — local clerks are a key resource: https://www.vacourts.gov/courts/circuit/probate/index.html.
• Name the estate account precisely: banks want the account title to show the estate and the personal representative to avoid personal liability.
• Bring originals or certified copies: banks commonly insist on a certified copy of Letters and a certified death certificate (not just photocopies).
• Get the EIN after you become personal representative — some banks will not accept an EIN application made before court appointment.
• Keep one ledger for the estate. Record every deposit and check and keep receipts for distributions. Good records protect you as personal representative.
• If the estate is small, ask the clerk about Virginia’s simplified or small-estate procedures (Title 64.2 covers nonprobate and simplified procedures). The clerk can tell you whether you can collect assets with an affidavit rather than full probate: https://law.lis.virginia.gov/vacode/title64.2/.
• If a bank refuses to open an estate account or demands unusual documentation, request their written requirements and consult the circuit court clerk or an attorney. Banks have internal policies that vary.
• When in doubt about taxes or disputed claims, discuss the matter with a probate attorney or a tax advisor — mistakes can create personal liability for a personal representative.

Disclaimer: This information is educational and does not constitute legal advice. I am not a lawyer. For advice specific to your situation — including whether probate is required in your county, how to apply for letters, or how to handle tax questions — contact the circuit court clerk or a licensed Virginia attorney.