Bill > HB1081

This bill addresses the process of transferring funds from financial accounts to charitable organizations after the death of an account holder. The bill makes two key changes: First, it expands the definition of who can obtain a death certificate by allowing beneficiaries of certain financial accounts (like retirement accounts, brokerage accounts, annuities, and life insurance policies) to more easily access these documents. Second, it creates new protections for charitable organizations designated as beneficiaries of such accounts. When a charitable organization is named as a beneficiary, financial institutions and insurance companies must now transfer funds directly to the charity upon receiving a specific affidavit that includes proof of tax-exempt status, a corporate resolution, a W-9 form, and documentation of the account holder's death. The bill prohibits financial institutions from requiring additional personal information or forcing the charitable organization to open an account as a condition of transfer. If a financial institution fails to comply or provide a reasonable justification within 60 days, they may face court-imposed damages, legal costs, and civil penalties ranging from $500 to $10,000 per incident. The law also allows charitable organizations to seek legal recourse or file complaints with regulatory bodies if they believe a financial institution is not following these new requirements.

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https://iga.in.gov/legislative/2025/bills/house/1081/details