After doing some research in NY state tax law pertaining to safe deposit box contents after the owners death, I am very confused on what to do for our new New York branches.
20 CRR-NY 360.2 reads, "In all cases, a representative of the estate shall complete an application for the release of a safe deposit box, on a form provided by the department, and mail or deliver the completed form to the department." This can be found here >
https://govt.westlaw.com/nycrr/Document/I50eaa611cd1711dda432a117e6e0f345?view However, when I looked for the "application for the release of a safe deposit box" the only safe box form that was on NY the Dept of Taxation and Finance's website was this one
https://www.tax.ny.gov/pdf/current_forms/et/et92.pdf This reads on the first line of the Instructions, "Note: Estates of individuals dying on or after February 1, 2000 are not required to obtain a release of the safe deposit box from the Tax Department."
So which is it?! One of these two have to be wrong, because they contradict each other. Are any other New York banker's willing to share their procedures for when a safe deposit box owner dies? Or can you point me in the direction of better & clearer guidance?