Ian Bryzek, CPA
How are cash and bank accounts documented for Form 706?
Bank balances need statements as of the valuation date, plus clarity about whose name and whose authority controlled each account.
Outstanding checks, deposits in transit, and joint ownership can all require notes in the workpapers.
Reconcile the estate inventory to the bank’s date-specific balance rather than a later screenshot.
What to keep with the file
Reconcile the estate inventory to the bank’s date-specific balance rather than a later screenshot.
What to do next
Request valuation-date statements from every bank before accounts are closed.
What to gather
- Statements covering the valuation date
- Account ownership and signature cards if available
- Outstanding check list
- POD or joint-owner paperwork
- Estate account opening records if funds moved
Who usually handles what
- Ian can organize the tax reporting question and the supporting records.
- The executor, trustee, or account custodian supplies records and confirms who has authority to act.
A practical next step
Request valuation-date statements from every bank before accounts are closed.
Related guides
- Estate bank account records
- What records does a cpa need after a death
- Final income tax return after death
This is general tax information, not tax or legal advice. Outcomes depend on the documents, ownership, timing, and law that apply to the particular facts.