When a person dies, their accounts are not immediately free for the family to use. The Departamento de Hacienda ("Hacienda," Puerto Rico's Treasury) holds a lien (a legal claim) on the estate's assets until it issues the relevo, the certificate that cancels that lien (formally the Certificación de Cancelación de Gravamen). In the meantime, the law allows banks and insurers to pay out part of the money.
This calculator tells you how much they could pay now and how much will have to wait. It helps you plan for funeral costs, the mortgage or household bills while the process is completed.
How this calculator works
You enter two amounts: the balance of the accounts at banks, cooperatives or brokerage firms, including joint accounts, and the total value of the life insurance policies payable to the sucesión (the estate, or the group of heirs).
Banks, cooperatives and brokerage firms (Sec. 2054.05(a)(2)). Without the relevo, the institution cannot pay the heirs more than $15,000 or 25% of the funds, whichever is greater. The rule covers accounts in the deceased's name and accounts held jointly with another person. The calculator:
- compares $15,000 with 25% of the balance and takes the greater amount;
- never shows more than the balance: if the account holds less than $15,000, all of it may be released;
- subtracts that amount from the balance to show you what stays on hold.
In practice, 25% is more than $15,000 only when the balance is over $60,000.
Insurers (Sec. 2054.05(a)(4)). Without Hacienda's authorization, the insurer can pay up to $5,000 or 40% of the policy's total value, whichever is greater, and never more than that value. The 40% is more than $5,000 when the policy is worth more than $12,500.
The rest. Anything above those limits waits until the Hacienda relevo or an authorization from Hacienda is obtained. For deaths since 2018, you request the relevo in SURI (Hacienda's online system) with the Planilla Informativa de Caudal Relicto (estate information return, Modelo SC 2800 C). If the deceased had no tax debts, the law says it is issued immediately (Secs. 2051.01(e) and 2054.02(d)(2)). The institution must also report each payment to Hacienda within 30 days (Sec. 2054.05(b)).
Don Ernesto died and left $48,000 in a bank account, $80,000 in a cooperative and a $20,000 policy payable to his estate.
| Fund | Balance | Can be paid now | Waits for the relevo |
|---|---|---|---|
| Bank | $48,000 | $15,000 (25% would be $12,000) | $33,000 |
| Cooperative | $80,000 | $20,000 (25%) | $60,000 |
| Insurance policy | $20,000 | $8,000 (40%) | $12,000 |
If Don Ernesto had had only $9,000 in the bank, the full amount could be paid, because it is less than $15,000.
What the calculator does not take into account
- Each institution separately. The law is addressed to each financial institution. If there were accounts at several, the prudent approach is to do the calculation separately for each one, as in the example, and confirm with each bank how it applies the rule.
- The bank's internal rules. The fact that the law allows an amount to be paid does not require the bank to pay it without documents. Many ask for the death certificate and the declaratoria de herederos (declaration of heirs) or the will before paying any amount.
- Insurance with a named beneficiary. This is a different situation. The Puerto Rico Supreme Court held that money from a policy with a named beneficiary is not part of the caudal relicto (the decedent's estate), because the beneficiary has a right of their own (Vélez Rivera v. Bristol-Myers Squibb, 2002). But Sec. 2054.05(a)(4) is written in general terms, and we have not been able to confirm how insurers and Hacienda apply it to those policies today. Ask the insurer whether it will require Hacienda's authorization or the relevo before paying beyond the limit. See life insurance and beneficiaries.
- Retirement accounts, IRAs or 401(k)s with a named beneficiary, which have their own rules.
- Safe deposit boxes. They cannot be opened without a Hacienda representative present (Sec. 2054.05(a)(3)).
- Funeral expenses. Current law has no special rule for the funeral: the same general limit applies.
- Who receives the money. The calculator does not divide the amount among the heirs. For that, see the intestate share calculator.
Related guides
- Bank accounts of the deceased
- Hacienda lien release (relevo)
- Estate information return (SC 2800 C)
- Debts of the deceased
Frequently asked questions
Can I keep using all the money in a joint account I had with the deceased?
Sec. 2054.05(a)(2) expressly includes joint accounts, so the bank may hold back whatever exceeds the limit until the relevo. Talk to the bank before moving funds, and keep your statements.
How long does the relevo take?
For deaths since 2018, the law says it is issued immediately if the return was filed with its attachments and there are no tax debts. SURI usually processes the filing in one or two business days, and the relevo appears in the correspondence tab.
Does the bank have to pay the $15,000 even without a declaration of heirs?
Not necessarily. The law sets a maximum, not an obligation to pay. Each bank decides which documents it requires to identify the heirs.
Sources
- Código de Rentas Internas de Puerto Rico de 2011, Secs. 2054.01, 2054.02 y 2054.05, compilación OGP. bvirtualogp.pr.gov
- Ley 76-2017 (enmiendas a la Sec. 2054.05). bvirtualogp.pr.gov
- Departamento de Hacienda, Determinación Administrativa 18-09. hacienda.pr.gov
- Departamento de Hacienda, Carta Circular de Rentas Internas 18-19 (SURI). hacienda.pr.gov
- Tribunal Supremo de Puerto Rico, Vélez Rivera v. Bristol-Myers Squibb, 2002 TSPR 123. dts.ramajudicial.pr
CaudalRelicto.com is an independent guide. It is not Puerto Rico's Departamento de Hacienda, the courts or any government agency. This page is general information, not legal advice from an attorney who knows your case. Names and figures in examples are hypothetical. Found an error? Tell us.
