Jan272026
Probate Q&A Series

When should I expect a 1099 for an estate account, and what can I do if it isn’t available when the estate needs to file taxes? – North Carolina

Short Answer

In most situations, a financial institution issues a Form 1099 for interest or other reportable income on a calendar-year schedule, often around late January through February for the prior year. If the 1099 is not available when the estate’s fiduciary income tax return is due, the personal representative can still move the estate forward by gathering year-end interest information from statements or a bank “interest summary,” documenting the request for the missing form, and filing on time (or requesting an extension if more time is needed). In North Carolina, the estate’s fiduciary return is generally due by April 15 for calendar-year filers, or the 15th day of the fourth month after a fiscal year ends.

Understanding the Problem

In North Carolina probate, a personal representative often needs a tax reporting form (such as a 1099) from a bank or brokerage to finish the estate’s tax reporting and close out financial accounts. The key decision point is what steps can be taken when the institution has not produced the 1099 yet, but the estate’s tax filing deadline is approaching and a small remaining balance still needs to be disbursed before the account can be fully closed.

Apply the Law

North Carolina treats an estate as its own taxpayer during administration, separate from the decedent. That means the estate may need to file a fiduciary income tax return for income earned after death (often interest earned in an estate checking account or other estate-held accounts). North Carolina sets due dates for fiduciary income tax returns and allows extensions, which matters when tax documents like 1099s are delayed. Practically, the personal representative also needs complete records (statements, transaction history, and interest totals) to support the estate accounting and tax reporting.

Key Requirements

  • Separate taxpayer and proper ID: An estate account should use the estate’s taxpayer identification number (EIN), not the decedent’s Social Security number, so the institution reports income to the correct taxpayer.
  • Complete records for receipts and disbursements: The personal representative should be able to show what came into the estate account and what went out, using monthly statements and transaction detail.
  • Meet the fiduciary return deadline (or extend it): The estate’s North Carolina fiduciary income tax return is due on a set schedule, and an extension may be available if more time is needed to finalize reporting.

What the Statutes Say

Analysis

Apply the Rule to the Facts: Here, the estate is trying to confirm whether accounts are closed, obtain missing monthly statements, and get a 1099 (or similar tax reporting) needed to complete tax filings. Because the estate may have earned post-death interest in an estate account, the personal representative needs reliable totals for the year and supporting statements. If the institution has not produced the 1099 yet, the practical workaround is to obtain the same information from statements or an official interest summary, keep proof of requests, and still meet the fiduciary return deadline (or timely request an extension).

Process & Timing

  1. Who requests records: The personal representative (often through counsel). Where: The financial institution holding the decedent account and/or the estate account. What: A written request for (a) missing monthly statements, (b) a year-end interest/earnings summary, (c) confirmation of date-of-death balance and any interest accrued to date of death, and (d) confirmation of post-death interest credited to the estate account. When: As soon as the personal representative is qualified and the estate EIN is obtained, and again well before the estate’s fiduciary return due date (often April 15 for calendar-year filers under North Carolina law).
  2. Reconcile the numbers: Use the statements to total interest and other income for the year, confirm whether any income was credited under the decedent’s Social Security number versus the estate EIN, and identify any final bank fees or pending items that prevent closure.
  3. File the fiduciary return or extend: If the 1099 is delayed, file using the best available, supportable information (statements/interest summary) or request an extension if more time is needed to avoid errors. Then, if a later-issued 1099 differs from the filed numbers, a tax professional can advise whether an amended return is needed.

Exceptions & Pitfalls

  • 1099 issued under the wrong taxpayer ID: If the bank reports post-death interest under the decedent’s Social Security number instead of the estate EIN (or vice versa), it can create mismatches and delays. Correcting the payee/taxpayer information with the institution is often necessary.
  • Missing statements lead to accounting gaps: Estates commonly need complete monthly statements to support receipts and disbursements. Waiting until tax time to request old statements can slow both tax filing and the final estate accounting.
  • Closing the account too early: If the estate account is closed before all interest posts, final fees clear, and the remaining balance is properly disbursed, the estate may have to reopen an account or chase corrected reporting later.
  • Assuming the 1099 is the only acceptable proof: A 1099 is helpful, but statements and an institution-generated interest summary are often enough to prepare a return when the form is delayed, as long as the numbers are supportable and consistent.

Conclusion

In North Carolina, an estate may need a fiduciary income tax return for post-death income, and the due date is generally April 15 for calendar-year filers (or the 15th day of the fourth month after a fiscal year ends). A 1099 for an estate account is often issued after year-end, but if it is not available in time, the personal representative can request missing statements and a year-end interest summary, reconcile the account activity, and file the fiduciary return on time (or request an extension) using documented, supportable figures.

Talk to a Probate Attorney

If an estate is waiting on missing bank statements or a delayed 1099 and a filing deadline is approaching, a probate attorney can help coordinate record requests, keep the administration on track, and work with the tax preparer on timing and documentation. 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.

Category: Probate Q&A Series

Author: Pierce Law

Pierce Law Group is a North Carolina law firm focused on probate administration, real estate partition matters, and surplus funds claims across North Carolina. We know these situations often come with stress, family dynamics, and time-sensitive decisions—so we prioritize clear communication, steady guidance, and a practical plan from day one. Our goal is to make a complicated process feel manageable, while protecting what matters most to you.