What to do when a Finance Factors account holder dies
Report the death to Finance Factors at 1-800-648-7136
What happens to Finance Factors accounts after the account holder dies depends on how each account was titled. Beneficiary-designated and trust-owned accounts transfer directly. Accounts in the deceased's name alone go through the estate, and the executor or administrator works with Finance Factors to claim the funds.
Before contacting Finance Factors, have the account holder's full name, date of birth, and any available account numbers ready.
Death claim process
Here is the step-by-step death claim process at Finance Factors:
Filing a claim
What happens to each kind of account1
- Certificate of deposit
A Rising Rate CD can be redeemed without penalty during the 10-day grace period at the end of each 7-month term. Outside the grace period a penalty may be imposed for early withdrawal.1
What Finance Factors's agreement and guidance say1
- Fees
The Fee Schedule prices a response to a document request at $30 per hour or fraction thereof, copies at $0.50 a page and off-site retrieval at $10 a box.2
A response to legal process or a subpoena is $50 per hour, a replacement certificate of deposit is $10, and moving an IRA to another custodian is $35.2
Not in Finance Factors's published guidance11
- A procedure for reporting a death
- A department for deceased-customer accounts
- A claim form
- A list of required documents
- Whether the death certificate must be certified
- A mailing address for claim documents
- An online way to report a death
- Which court appointment document it accepts
- A small-estate procedure
- How long a claim takes
- Terms in its agreements for a customer's death
Sources2
- 1.Certificates of Deposit
- 2.Fee Schedule, effective July 14, 2025 (Rev. 07/25)
Sources
(2)·
Data sourced from Finance Factors primary sources (36 pages reviewed). How we research.
Finance Factors death claims support
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Death notifications go through general customer service.
Estate planning articles
Learn how to protect your Finance Factors accounts and other assets with trusts, beneficiary designations, and estate planning documents.
Is this your situation?
Get a complete guide for your specific circumstances.
Forms for Settling an Estate
Free forms for settling an estate: probate petition, small estate affidavit, creditor notice and closing forms. Prepare each form for your state.
Affidavit of Death
Put a joint owner's or a transfer on death deed owner's death on the land records with the affidavit your state's statute names, laid out for recording.
IRS Form 56
Notify the IRS that you are the fiduciary of an estate, a trust or a person, or end a notice filed before, on the official form.
Digital Assets Recovery Letter
Prepare a letter requesting a deceased person's online accounts, points, and balances from the program that holds them.
Petition for Probate and Letters
Open probate and ask the court to appoint you and issue Letters Testamentary or Letters of Administration.
Notice to Creditors
Notify estate creditors and start the claim period — the published notice plus mailed copies for known creditors.
Renunciation of Executor
Decline an appointment as executor named in a will — the writing filed with the court before anyone is appointed.
Tools for Settling an Estate
Free tools for settling an estate: whether probate is needed, executor and trustee pay, creditor deadlines and taxes. Run each tool for your state.
How Many Death Certificates Do I Need?
Calculate how many certified death certificates you need and see ordering info for your state.
Do I Need Probate?
Find out if an estate needs probate or qualifies for simplified procedures.
What Happens to Jointly Owned Property When an Owner Dies?
See what your state records when a joint tenant with right of survivorship dies: an affidavit, the death certificate or a new deed.
Do I Have to File Tax Returns for Someone Who Died?
Find out which tax returns need to be filed after someone dies and whether tax clearance is required.
How Do I Settle an Estate?
Personalized plan for settling an estate after someone passes away.
What Do I Do When Someone Dies?
A step-by-step checklist for the days, weeks, and months after a death, with state rules noted where they apply.
