What to do when a Gate City account holder dies
Report the death to Gate City's Customer Service Center at 1-800-423-3344
What happens to Gate City 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 Gate City's Customer Service Center (1-701-293-2400) to claim the funds.
Deposit, investment & retirement accounts
To file a claim after an account holder's death, here is what Gate City requires:
Filing a claim
Required Documents
- Certified copy of the death certificate
- Government-issued photo ID, for the POD beneficiary, surviving owner, successor trustee or personal representative
- Letters Testamentary or Letters of Administration, for any account passing through the estate
- Trust instrument or Certification of Trust, with the trustee's ID, for a trust-titled account
- Small estate affidavit, where the estate qualifies, in place of Letters
- Distribution election, for an inherited IRA or Coverdell ESA
What happens to each kind of account7
- Account in one name
Ownership of a single-party account passes as part of the decedent's estate, so the personal representative claims it with Letters.1
Accounts passing through the estate wait on Letters or a small estate affidavit.2
- Joint account with survivorship
On a multiple-party account with right of survivorship, ownership passes to the surviving parties. A surviving spouse takes the decedent's share ahead of other surviving parties.1
A survivorship account is released once the certified death certificate and the claimant's ID are verified.2
- Joint account without survivorship
On a multiple-party account without right of survivorship, the decedent's share passes through the estate even though another name is on the account.1
- Payable-on-death account
On a single-party account with a pay-on-death designation, ownership passes to the POD beneficiaries and is not part of the estate. On a survivorship account that also has a POD designation, the POD beneficiaries take only at the death of the last surviving party.1
A POD account is released once the certified death certificate and the claimant's ID are verified.2
- Certificate of deposit
The certificate disclosure waives the early withdrawal penalty on the death of an owner, so a term account can be closed to fund the estate without forfeiting interest.3
- IRA
The early withdrawal penalty on a retirement certificate is waived on the death of an owner.3
An IRA passes to the named beneficiary rather than through the estate; the beneficiary gives distribution instructions.2
- Loan
A Gate City Bank mortgage, home equity loan or line of credit has its own process and is not closed by the deposit claim.2
What Gate City provides to the estate1
- Statement copies
A duplicate statement, or a statement for a specific cycle date, costs $5 per statement (Statement Print Service Fee).4
What Gate City's agreement and guidance say6
- Telling the institution
The account holder agrees to tell the bank promptly of a death: "You agree to notify us promptly if any person with a right to withdraw funds from your account(s) dies".1
- What it does when notified
The bank may keep honoring checks, items and instructions until it both knows of the death and has had a reasonable opportunity to act on that knowledge.1
- Payments after the death
The bank may pay or certify checks drawn on or before the date of death for up to ten days afterward "unless ordered to stop payment by someone claiming an interest in the account".1
- Powers of attorney
A power of attorney on a single-party account "is automatically terminated by the death of the owner". The bank may keep honoring the agent's transactions until it has written notice or actual knowledge of the termination and a reasonable opportunity to act.1
- Dormant and unclaimed accounts
A checking account with no customer-initiated activity for 18 months is charged a $6 monthly Account Dormant Fee.4
An account the state treats as abandoned is charged a $50 Escheatment Fee before the balance is remitted to the unclaimed property division of the state of the owner's last known address.4
- Fees
Account Research costs $15 minimum or $30 per hour. Copies are $.25 per page and faxes $2 per page.4
Not in Gate City's published guidance1
- A procedure for reporting a death
Sources4
- 1.Terms and Conditions of Your Account, August 1, 2024
- 2.Contact Us
- 3.Certificate of Deposit disclosure
- 4.Schedule of Fees
Mortgage and home lending
Mortgages and home equity loans are liabilities, not assets. They do not have beneficiaries and cannot be retitled to a trust.
- Call 701-293-2400 or 800-423-3344, or stop at any Gate City Bank location
- Give the deceased borrower's full legal name, loan number and property address
- Provide a certified copy of the death certificate
- Provide the document that transferred the property to you: a probated will, a court order, a recorded deed or the trust instrument
- Provide Letters Testamentary or Letters of Administration if the estate is being probated
- Provide a marriage certificate if you are the surviving spouse
- The local mortgage team tells you what it needs for your file
- Continue making payments on the existing loan
- Assume the loan
- Refinance the mortgage
- Pay off the remaining balance from estate assets or a sale
Required Documents
- Certified copy of the death certificate
- Government-issued photo ID, for the heir or personal representative
- Document proving the ownership interest in the propertyA probated will, court order, recorded deed or trust instrument.
- Letters Testamentary or Letters of Administration, if probate is open
- Marriage certificate, if you are the surviving spouse
Claims Contact
Phone: 1-800-423-3344
Mailing address: Gate City Bank, P.O. Box 2847, Fargo, ND 58108-2847
Federal law on calling a home loan after a death
These exemptions apply to a loan secured by residential real property containing less than five dwelling units.12 U.S.C. § 1701j-3(d); 12 CFR 191.5(b), 141.14Verified Oct 3, 2026View source
- A lender may not exercise a due-on-sale clause upon a transfer by devise, descent, or operation of law on the death of a joint tenant or tenant by the entirety.12 U.S.C. § 1701j-3(d)(3); 12 CFR 191.5(b)(1)(iii)Verified Oct 3, 2026View source
- A lender may not exercise a due-on-sale clause upon a transfer to a relative resulting from the death of a borrower.12 U.S.C. § 1701j-3(d)(5)Verified Oct 3, 2026View source
- A lender may not exercise a due-on-sale clause upon a transfer where the spouse or children of the borrower become an owner of the property.12 U.S.C. § 1701j-3(d)(6)Verified Oct 3, 2026View source
A federal regulation sets further conditions on these transfers.12 CFR 191.5(b)(1)(v)Verified Oct 3, 2026View source
Not in Gate City's published guidance1
- A claim form
- Call 701-293-2400 or 800-423-3344, or stop at any Gate City Bank location
- Give the deceased borrower's full legal name, account number and property address
- Provide a certified copy of the death certificate
- Provide the probated will, court order, recorded deed or trust instrument that transferred the property to you
- Provide Letters Testamentary or Letters of Administration if probate is open
- Pay the balance from estate assets
- Refinance the debt
- Discuss repayment terms with the local lending team
Required Documents
- Certified copy of the death certificate
- Government-issued photo ID, for the heir or personal representative
- Document proving the ownership interest in the propertyA probated will, court order, recorded deed or trust instrument.
- Letters Testamentary or Letters of Administration, if probate is open
- Marriage certificate, if you are the surviving spouse
Claims Contact
Phone: 1-800-423-3344
Mailing address: Gate City Bank, P.O. Box 2847, Fargo, ND 58108-2847
What happens to each kind of account1
- Loan
The outstanding line balance is not forgiven. It stays secured by the property until it is paid, refinanced or resolved with the bank.1
Sources1
Gate City's Customer Service Center can be reached by phone at 1-800-423-3344 for questions throughout the claims process.
Sources
(2)·
Data sourced from Gate City primary sources (16 pages reviewed). How we research.
Gate City death claims support
Customer Service Center (deceased account holders)
Phone
Toll-free
Hours
Mailing address
Website
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