What to do when a Banco Popular account holder dies
Contact Banco Popular — 7-step process, 5 required documents, and depends on whether a declaration of heirs has been obtained and whether a treasury lien cancellation is required for balances over $15,000.
Customer Service
Customer Service
Estate Processing (696)
Banco Popular de Puerto Rico, Estate Processing (696), PO Box 362708, San Juan, PR 00936-2708
When an account holder at Banco Popular passes away, the next step depends on how the accounts were set up. Accounts with beneficiary designations or trust ownership transfer outside of probate. Accounts titled solely in the deceased's name require the estate's legal representative to work with Banco Popular's Estate Processing (696) (787-724-3659) to access and distribute the funds.
Gather the account holder's full name, date of birth, and any known account or policy numbers before contacting Banco Popular. A certified death certificate is the primary document required to start any claim.
Death claim process
To file a claim after an account holder's death, here is what Banco Popular requires:
Filing a claim
- Complete the Affidavit for Liquidation of Bank Accounts (form BRA-028)
- Include a Negative Certification of Will from the Registry of Powers and Wills
- A funeral-expense advance of up to $15,000, issued as an official check payable directly to the funeral home (not a reimbursement to heirs)
- A general advance of up to $15,000 or 25% of the total funds, whichever is greater (permitted under the Puerto Rico Internal Revenue Code before the Relevo de Hacienda is obtained)
Required Documents
- Certified death certificate
- Resolution of Declaration of Heirs, or a will with a post-death Certificate of Validity from the Registry of Powers and Wills
- Form BRA-1031A (Certification of Banking Relationships) and/or BRA-1032A (Advancement/Disbursement of Funds)
- Form BRA-028 (Affidavit for Liquidation) with a Negative Certification of Will — small estates under $2,000 only
- Lien Cancellation Certificate / Relevo de Hacienda (Heir Release with Annex A) from the Puerto Rico Treasury — if aggregate balances exceeded $15,000
Claims Contact
What to know at this institution
Final liquidation is made by a single official check payable to ALL heirs of the succession and joint account owners together. Banco Popular does not make partial liquidations, divide the inheritance among heirs, or allocate individual shares — heirs distribute the proceeds among themselves. Absent or non-present heirs may grant a power of attorney or sworn statement authorizing another to receive the check on their behalf. Documents may be submitted at any Banco Popular branch or mailed to the Estate Processing (696) unit.
Prepare your letter of instruction to Banco Popular
Banco Popular provides its own letter-of-instruction form. Answer a few questions and we complete that official form for you to print and sign.
Build your letter of instructionOpening an account for the estate itself
Checks made out to the estate deposit into an account titled to the estate, opened by the appointed executor or administrator under the estate's EIN.
How to open an estate account at Banco Popular →Processing timelines at Banco Popular: Depends on whether a Declaration of Heirs has been obtained and whether a Treasury lien cancellation is required for balances over $15,000. Incomplete documentation is the most common cause of delays—submitting all required documents with the initial claim helps avoid additional processing time.
Documentation required by Banco Popular includes Certified death certificate, Resolution of Declaration of Heirs, or a will with a post-death Certificate of Validity from the Registry of Powers and Wills, and Form BRA-1031A (Certification of Banking Relationships) and/or BRA-1032A (Advancement/Disbursement of Funds), along with additional paperwork that varies by account type. All death certificates and court documents must be certified copies.
Frequently asked questions
Puerto Rico uses civil-law succession, not common-law probate. To release a deceased customer's funds, Banco Popular requires a Resolution of Declaration of Heirs (or a will with a post-death Certificate of Validity from the Registry of Powers and Wills) plus its estate-processing forms (BRA-1031A and/or BRA-1032A). Documents can be submitted at any branch or mailed to the Estate Processing unit, PO Box 362708, San Juan, PR 00936-2708.
Yes. When the total funds across all of the deceased's accounts do not exceed $2,000, there is no will, and no Declaration of Heirs has been obtained, you can use the Affidavit for Liquidation of Bank Accounts (form BRA-028) together with a Negative Certification of Will from the Registry of Powers and Wills, instead of a full Declaration of Heirs.
If the aggregate balance of the deceased's accounts exceeded $15,000 at death, Banco Popular requires a Lien Cancellation Certificate (Relevo de Hacienda) from the Puerto Rico Treasury before releasing the funds, in addition to the Declaration of Heirs and estate-processing forms.
No. Banco Popular states that a deceased owner's IRA is part of the estate (caudal relicto) and belongs to the heirs from the date of death, rather than passing to a POD/TOD-style designated beneficiary as on the U.S. mainland. To withdraw the funds, heirs provide the death certificate, a Resolution of Declaration of Heirs (or court-certified will), executor letters where applicable, and a Hacienda authorization for the withdrawal showing estate-tax payment or tax-relief certification. The owner's death exempts the withdrawal from IRS early-withdrawal penalties.
Banco Popular's Estate Processing (696) can be reached by phone at 787-724-3659 for questions throughout the claims process.
If the deceased held multiple Banco Popular accounts, each may require a separate claim or have different documentation requirements. The Estate Processing (696) can confirm which accounts require individual attention and which can be processed together.
Sources
Data sourced from Banco Popular primary sources (11 pages reviewed). How we research.
Customer Service
Customer Service
Estate Processing (696)
Banco Popular de Puerto Rico, Estate Processing (696), PO Box 362708, San Juan, PR 00936-2708
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