What forms are required to file an estate inventory and apply for an EIN for the estate? – North Carolina

Short Answer

In North Carolina, the estate inventory is typically filed on the North Carolina court form titled “Inventory for Decedent’s Estate” (AOC‑E‑505), which is due within three months after the co-administrators qualify (receive letters). An estate EIN is obtained from the IRS using IRS Form SS‑4 (often submitted online for immediate issuance), and the EIN (not the decedent’s Social Security number) is then used to open the estate bank account. Some banks also ask for IRS Form W‑9 for the estate account.

Understanding the Problem

In North Carolina probate, when co-administrators are appointed, what forms are needed to (1) file the required estate inventory with the Clerk of Superior Court and (2) apply for a federal Employer Identification Number (EIN) for the estate so an estate bank account can be opened and administered? The key trigger is the date the co-administrators qualify and receive letters, because that qualification date drives when the inventory must be filed.

Apply the Law

North Carolina requires a personal representative (including co-administrators) to file an inventory with the Clerk of Superior Court (Estates Division) that lists estate property and values. The inventory is commonly called the “90‑Day Inventory,” and it is due within three months after qualification. Separately, the EIN is a federal tax identification number issued by the IRS for the estate and is commonly needed to open an estate checking account and to ensure any post-death income is reported under the estate’s taxpayer ID rather than the decedent’s Social Security number.

Key Requirements

Use the correct inventory form and file it with the proper office: The inventory is filed with the Clerk of Superior Court handling the estate administration in North Carolina.
File on time (three months after qualification): The inventory deadline runs from the date the personal representative qualifies (the letters date), not from the date of death.
Get a separate tax ID for the estate (EIN): The estate should use an EIN for estate banking and reporting of estate income; banks commonly require it to open an estate account.

What the Statutes Say

N.C. Gen. Stat. § 7A-241 (Probate jurisdiction) – Probate and estate administration are handled in the superior court division and exercised by the Clerk of Superior Court.

North Carolina’s inventory deadline and enforcement procedures are set out in Chapter 28A. Because statute numbering and the best link can vary by sub-issue, this article focuses on the standard statewide rule: the inventory is due within three months after qualification and is filed with the Clerk.

Analysis

Apply the Rule to the Facts: Here, the co-administrators expect to receive letters and then access a bank account to identify and collect funds. Once they qualify, North Carolina practice typically requires filing the inventory on AOC‑E‑505 listing assets like the small bank account and the real property, along with date-of-death values. Because the plan includes holding sale proceeds in an estate account, an IRS EIN should be obtained early and used to open the estate account rather than using the parent’s Social Security number.

Process & Timing

Who files: The co-administrators (personal representatives). Where: The Clerk of Superior Court (Estates) in the county where the estate is being administered. What: File AOC‑E‑505 (Inventory for Decedent’s Estate). When: Within three months after qualification (the letters date).
Get the EIN and open the estate account: Apply to the IRS for an EIN using IRS Form SS‑4 (often online for immediate issuance). Provide the EIN and a copy of the letters to the bank to open an estate checking account; banks often request IRS Form W‑9 for the estate account, especially if it will earn interest.
Update if needed: If additional assets are discovered or values change materially after the inventory is filed, North Carolina practice expects an update (commonly through a supplemental filing or, depending on the situation and local practice, through later accountings). Using appraisers and listing the appraiser’s information on the inventory can help when values are uncertain or disputed.

Exceptions & Pitfalls

Missing the inventory deadline: If the inventory is not filed on time, the Clerk can issue notices and orders to compel filing and can schedule a show-cause hearing that may lead to removal or contempt proceedings.
Using the decedent’s Social Security number for estate banking: Banks commonly require an EIN for the estate account, and using the decedent’s SSN can cause reporting problems for post-death income.
Incomplete or unsupported values: The inventory should reflect fair market value as of the date of death. When real property values are not clear, using a qualified appraisal and identifying the appraiser on the inventory can reduce later disputes and questions from the Clerk.

Conclusion

In North Carolina, the inventory for an estate is typically filed with the Clerk of Superior Court on AOC‑E‑505 (Inventory for Decedent’s Estate), and it is due within three months after the personal representatives qualify and receive letters. The estate’s EIN is obtained from the IRS using IRS Form SS‑4 and is then used to open the estate bank account and for reporting estate income. The next step is to file AOC‑E‑505 with the Clerk by the three-month deadline.

Talk to a Probate Attorney

If a co-administration is underway and the estate needs to file its inventory and set up an estate bank account with the correct tax ID, a probate attorney can help confirm the right forms, values, and deadlines for the county’s Clerk procedures. Call us today at (919) 341-7055.

Disclaimer: This article provides general information about North Carolina law based on the single question stated above. It is not legal advice for your specific situation and does not create an attorney-client relationship. Laws, procedures, and local practice can change and may vary by county. If you have a deadline, act promptly and speak with a licensed North Carolina attorney.