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Gather Income & Retirement Documents
Taxes & Financial Filings
Locate the most recent federal and state tax returns along with all wage, income, retirement, Social Security, and health account records needed to prepare the deceased's final individual income tax return. Confirm all sources of earned and unearned income for the year of death, including distributions from retirement plans and HSAs. Track filing deadlines carefully to avoid penalties and interest. If the deceased previously filed without professional assistance, consider engaging a licensed CPA or tax professional to ensure accurate reporting and proper handling of retirement and beneficiary-related matters. AfterMatters provides organizational guidance only and does not offer tax or legal advice.
Frequently Asked Questions
Documents
What income documents do I need to collect?
Collect all W-2s (from employers), 1099-INT (bank interest), 1099-DIV (dividends), 1099-R (retirement distributions), 1099-SSA (Social Security benefits), 1099-MISC and 1099-NEC (freelance/contract income), and K-1s (partnership/S-corp/trust income). These forms are typically mailed in January-February. If you are missing any, contact the issuer directly or check the deceased's IRS account transcript at irs.gov (you can request this as executor with a Form 56 filed).
What retirement account documents are needed?
Gather the most recent statements from all retirement accounts: 401(k), 403(b), IRA, Roth IRA, pension plans, 457 plans, and any annuity contracts. You will need these to identify beneficiary designations, account values on the date of death (for stepped-up basis and inheritance tax purposes), and any required minimum distributions (RMDs) that may need to be taken for the year of death. Contact each plan administrator to request a date-of-death valuation statement.
Process
Where can I find the deceased's prior tax returns?
Check home files, filing cabinets, and the deceased's computer or cloud storage. If a CPA prepared them, request copies from the firm. You can also obtain tax return transcripts from the IRS by filing Form 4506-T (free, 5-10 business days) or Form 4506 for actual copies ($43 per return, 75 days). As executor, you must attach Form 56 (Notice Concerning Fiduciary Relationship) and your Letters Testamentary. Prior returns reveal income sources you might otherwise miss.
Costs
What about Health Savings Account (HSA) records?
If the deceased had an HSA, the account has specific tax rules upon death. If the surviving spouse is the beneficiary, they inherit the HSA and can continue using it tax-free for qualified medical expenses. If a non-spouse beneficiary inherits it, the account ceases to be an HSA and the fair market value becomes taxable income to the beneficiary. Collect the most recent HSA statement and Form 5498-SA. The HSA custodian can provide a date-of-death balance.