Short Answer

In North Carolina, an executor typically needs: certified Letters (Testamentary or of Administration), a certified death certificate, the estate’s EIN with a completed IRS Form W-9, and the institution’s distribution/claim forms. Most brokerages also require an affidavit of domicile and a medallion signature guarantee; plan sponsors often require beneficiary designations and, if a trust is the beneficiary, specific trust documentation by October 31 of the year after death. Policies vary, and originals or certified copies are commonly required.

Understanding the Problem

You are a North Carolina executor asking: what do I need to hand over to the financial institution and the plan sponsor to liquidate the decedent’s retirement/investment account and distribute the proceeds? One key fact here: the financial institution requires signed distribution paperwork delivered in person.

Apply the Law

Under North Carolina law, an executor may collect, manage, and liquidate the decedent’s personal property, but must pay costs of administration, taxes, and valid claims before distributing what remains to heirs or beneficiaries. Accounts payable to named beneficiaries usually pass outside the estate; if the estate is the beneficiary (or the account is in the decedent’s sole name), the executor handles the claim. Financial institutions and plan sponsors set their own documentation standards, which commonly include proof of authority, proof of death, tax forms, and account-specific claim forms. The Clerk of Superior Court issues your Letters; disputes over release of property can be addressed in the estates division or in superior court.

Key Requirements

• Show authority to act: Provide certified Letters Testamentary or Letters of Administration (often dated within the last 60 days).
• Prove death and identity: Provide a certified death certificate and valid ID for the executor.
• Tax setup: Obtain an estate EIN and submit an IRS Form W-9 in the estate’s name; complete federal/state withholding elections on the institution’s forms.
• Account-specific claim forms: Complete the brokerage or plan sponsor’s distribution packet (beneficiary verification, RMD/withholding elections, and payout instructions).
• Securities processing: For brokerage assets, expect an affidavit of domicile and a medallion signature guarantee on stock/bond powers or transfer forms.
• Beneficiary/trust documentation: Provide beneficiary designations; if a trust is beneficiary, supply required trust documentation to the plan administrator (generally by October 31 of the year after death).
• Delivery method: Follow the institution’s submission rules (often originals/certified copies, and sometimes in-person delivery).

What the Statutes Say

• North Carolina Gen. Stat. § 28A-13-3 (Powers and duties of personal representative) – Executor may take possession, manage, sell, and distribute personal property.
• North Carolina Gen. Stat. § 28A-22-1 (Distribution after payment of claims) – Distribute only after costs, taxes, and valid claims are paid.
• North Carolina Gen. Stat. § 28A-25-1 (Collection by affidavit) – Alternative evidence of authority for small estates when applicable.
• North Carolina Gen. Stat. § 28A-15-12 (Actions to recover property of decedent) – Procedure to compel delivery of estate property if a holder refuses.

Analysis

Apply the Rule to the Facts: Because you are the qualified executor, you will need to present your certified Letters and a certified death certificate to the financial institution and the plan sponsor to verify authority and death. The institution’s in-person delivery requirement means you should bring originals plus ID, a completed W-9 for the estate EIN, and the institution’s distribution packet. If missing plan documents caused delays, request copies of the beneficiary designation and complete any RMD/withholding elections; provide trust documentation if a trust is the beneficiary.

Process & Timing

1. Who files: Executor. Where: Clerk of Superior Court (to obtain Letters), then the financial institution branch and plan sponsor’s claims department. What: Certified Letters, certified death certificate, estate EIN (IRS Form SS-4) and W-9, institution/plan distribution packet; for securities, affidavit of domicile and stock/bond powers with a medallion signature guarantee. When: As soon as Letters are issued; if a trust is beneficiary, provide trust documentation to the plan administrator by October 31 of the year after death.
2. Present the paperwork in person at the branch for identity checks and any medallion signature guarantees. Submit originals/certified copies as required; processing times vary by institution and county.
3. Funds are paid to the estate account (or directly to the beneficiary per the plan). The executor pays costs, taxes, and claims, then distributes and obtains receipts for the estate file before filing the final account with the Clerk.

Exceptions & Pitfalls

• Named beneficiary accounts usually bypass the estate; Letters alone won’t redirect payment. If the estate needs funds to pay claims, recovery requires the proper statutory process.
• Many brokers require recent, certified Letters and a medallion signature guarantee—schedule the branch visit and bring government ID to avoid delays.
• Plan sponsors may require spousal consent documentation for certain qualified plans and precise RMD/withholding elections; incomplete packets stall payouts.
• Affidavit of domicile and original death certificates are often mandatory; keep multiple certified copies.
• Do not distribute to heirs before ensuring costs, taxes, and valid claims are covered; premature distributions can create personal liability for the executor.

Talk to a Probate Attorney

If you’re dealing with time-sensitive estate distributions and institution-specific paperwork, our firm has experienced attorneys who can help you understand your options and timelines. 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.