How Does an Executor Obtain an EIN for an Estate in Iowa? | Iowa Probate

Detailed Answer

When someone named as executor, they need an Employer Identification Number (EIN). An EIN allows the estate to open bank accounts, report income, and file tax returns. Under Iowa law, the executor must follow the duties assigned in Iowa Code 633.29. The Internal Revenue Service issues the EIN through Form SS14.

Step 1: Confirm Your Appointment

First, ensure your appointment as executor is official. The court issues letters testamentary or letters of administration. Keep a copy of the letters for the EIN application.

Step 2: Gather Required Information

You will need:

The estates legal name (decedents full name followed by “Estate”).
Your name and Social Security number as executor.
The decedents date of death.
The estates mailing address.
A valid reason for applying (e.g., estate settlement).

Step 3: Complete IRS Form SS14

Obtain Form SS14 from the IRS website: Form SS14 (PDF). Fill in the estates name on line 1. On line 7a, enter your name and title as executor. Use code 5 on line 10 for estates. Answer all questions accurately.

Step 4: Submit the Application

For fastest processing, apply online: IRS Online EIN Application. You can also fax the completed SS14 to the appropriate IRS fax number or mail it to the address listed in the instructions: Instructions for Form SS14.

Step 5: Receive and Use Your EIN

You will receive the EIN immediately if you apply online, or within four weeks by mail. Use the EIN to open an estate bank account, file estate income tax returns (IRS Form 1041), and report other financial matters.

Helpful Hints

Keep copies of all documents for the estate file.
Check for state estate tax requirements in Iowa, if applicable.
Use a secure method to transmit sensitive information.
If you need help, contact a qualified attorney familiar with Iowa probate law.
Do not use your personal SSN for estate accounts.

Disclaimer: This article is for informational purposes and does not constitute legal advice. Consult a qualified attorney for guidance on your specific situation.