If an account is titled i/t/f and the owner dies can the person who the account is i/t/f come in and close the account by providing a short certificate or does it need to be closed by the executor of the estate?

I would assumne since this type of account is not a legal trust for the ITF that it would have to be taken care of by the executor of the estate. It is my understanding that ITF is nothing more than a special title on an account.

I thought ITF was a predecessor of PODs and therefore if the person produced a death certificate, the funds would be paid.

The "FDIC Seminar on Deposit Insurance Coverage for Bankers" indicated that a revocable trust deposit is established (for an informal trust) by the use of "testamentary language" in the account title. They used the examples of POD (Payable on Death), ITF (In Trust For) and ATF (As Trustee For).

As long as the person has a death certificate for the account owner and presents proper identification for themselves, there's no reason they can't have the funds. That's the purpose of titling an account this way - to avoid probate and the need for an executor.