Estate planning at CIBC US
How to protect 14 CIBC US accounts — manage beneficiaries in-branch, fund a trust in-branch, and file claims through CIBC US's POD Account Processing
Client Support Center
POD Account Processing
CIBC Bank USA, POD Account Processing, 6825 West 111th Street, Worth, IL 60482
POD Account Processing
CIBC Bank USA, POD Account Processing, 6825 West 111th Street, Worth, IL 60482
CIBC US has 14 accounts, each with different rules for what happens when the account holder dies. Of those, 13 can name a trust as beneficiary or be retitled into a trust. The right combination of beneficiary designations and trust ownership can keep the entire portfolio out of probate.
Managing beneficiaries at CIBC US is straightforward—changes can be made in branch, by mail, and by phone, typically taking 15-30 minutes to complete the form; designation active after CIBC verifies owner identity. Trust funding is also available, allowing families to retitle accounts into the name of a revocable living trust.
CIBC US has documented procedures for both preparing accounts during your lifetime and handling claims when an account holder passes away.
Preparing your estate
Beneficiaries and trust funding
How to update beneficiaries in-branch, fund a trust in-branch, and review 14 account types at CIBC US.
View details →When someone dies
Death claim process
Contact CIBC US's POD Account Processing to file a claim. 5-step process, 4 required documents, and contact information for survivors.
View details →Reach CIBC US's POD Account Processing at 877-448-6500 for help with any of these procedures.
CIBC US is not available nationwide. Estate planning procedures may vary by state, so confirm that your location is served before making account changes.
Frequently asked questions
No. CIBC Agility online accounts cannot be owned by a trust or established as fiduciary or custodial accounts -- they are individual or joint only. To hold a CIBC Bank USA checking, savings, money market, or CD account in a revocable living trust, you must open or convert the account at a CIBC Bank USA banking center. Banking centers are located in Illinois, Florida, Michigan, and Missouri. Bring the trust agreement or Certification of Trust, the trust tax ID, and photo ID for each trustee.
No. The standard CIBC Bank USA POD Beneficiary Designation form requires each beneficiary to be a natural person (an individual) with a U.S. Social Security Number, so trusts, charities, and other organizations cannot be named through it. If you want a trust to receive the funds, hold the account in the name of the trust by opening a trust-titled account at a banking center instead of using a POD designation.
Sources
Data sourced from CIBC US primary sources (16 pages reviewed). How we research.
Client Support Center
POD Account Processing
CIBC Bank USA, POD Account Processing, 6825 West 111th Street, Worth, IL 60482
POD Account Processing
CIBC Bank USA, POD Account Processing, 6825 West 111th Street, Worth, IL 60482
Estate planning articles
Learn how to protect your CIBC US accounts and other assets with trusts, beneficiary designations, and estate planning documents.
