NS&I – National Savings & Investments – is one of the most common savings providers in the UK. Around 24 million people hold Premium Bonds alone, making NS&I accounts one of the most frequent tasks in estate administration. This guide covers what to do when someone with NS&I savings dies: how to notify NS&I (online or using the NS&I 904 paper form), what documents you need, what happens to Premium Bonds and other products, the £5,000 probate threshold, the IHT423 Direct Payment Scheme, unclaimed prizes, the inherited ISA allowance for surviving spouses, reinvestment options, processing times, Scotland and Northern Ireland differences, and a 2026 issue that has left around 34,000 estates underpaid.
Quick reference:
- Phone: 08085 007 007 (free from UK landlines and mobiles)
- Hours: Monday–Friday 8am–8pm, Saturday–Sunday 8am–6pm
- Online form: forms.nsandi.com
- Post: NS&I, Sunderland, SR43 2SB
- Probate required if: total NS&I savings are £5,000 or more (across all products combined)
- Processing time: currently around 8 weeks (see note below)
- Tell Us Once: NS&I is not covered – you must contact NS&I separately
- Death Notification Service: NS&I is not a member – contact NS&I directly
- IHT423 Direct Payment Scheme: NS&I participates – you can pay Inheritance Tax before probate
Tell Us Once does not cover NS&I. The government’s Tell Us Once service notifies most public sector organisations automatically – but NS&I is excluded. You must contact NS&I directly using the steps below. See our guide to Tell Us Once for what it does and doesn’t cover.
How to notify NS&I
NS&I has three ways to start a bereavement claim: by phone, online, or by post.
By phone
Call 08085 007 007. Calls are free from UK landlines and most mobile networks. The staffed team is available Monday to Friday 8am–8pm and Saturday to Sunday 8am–6pm. NS&I is closed on bank holidays. A virtual assistant handles general queries outside those hours, but for bereavement matters you will need to speak to a member of the team.
When you call, explain that you are the executor or administrator of the estate. Have the deceased’s full name and, if possible, their NS&I holder number (found on any old prize warrants, account statements, or NS&I letters) to hand. The team will confirm which documents you need and how to submit them.
Source: NS&I contact page, last verified June 2026.
Online
NS&I has an online bereavement claim form at forms.nsandi.com. This is the fastest route if you have scanned or digital copies of the required documents. The form covers all NS&I account types – Premium Bonds, Direct Saver, Income Bonds, Direct ISA, and Investment Account – in a single submission. You do not need to notify each product separately. You do not need to create an NS&I online account to use the form.
By post (NS&I 904 paper form)
Send documents to: NS&I, Sunderland, SR43 2SB
NS&I has a paper bereavement claim form – NS&I 904 – which covers all account types in a single submission. You can request a copy by calling 08085 007 007, or download it from nsandi.com/downloads-and-forms. Send the completed form, along with your supporting documents, to the Sunderland address above. NS&I can return original documents by recorded delivery if you ask them to.
When the paper form may be preferable. The online form is sufficient for most claims. The NS&I 904 paper form is useful if you do not have digital copies of documents, if you want to include a covering letter explaining complex circumstances, or if you prefer a paper trail. There is no difference in outcome between the two routes.
NS&I’s free printed brochure, Guidance after a bereavement, explains the claim process in full. Download it from nsandi.com/files/asset/pdf/death-claims-brochure.pdf, or request a printed copy by calling the number above.
Tell Us Once and the Death Notification Service
Two notification shortcuts that work for banks and government agencies do not work for NS&I.
Tell Us Once is the government’s service that notifies HMRC, DWP, DVLA, local councils, public-sector pension schemes, and similar organisations in a single report. NS&I – despite being government-owned – is not included. You must contact NS&I directly.
The Death Notification Service (DNS) is an industry scheme operated by the major high street banks. It lets executors notify multiple banks simultaneously through the portal at deathnotificationservice.co.uk. NS&I is not a member of the DNS. A notification submitted there will not reach NS&I. This is a common source of confusion for executors who assume all financial institutions are covered – they are not.
The practical implication: NS&I is always a separate task. Build it into your checklist alongside, rather than as part of, bank notifications.
Source: NS&I bereavement help page, last verified June 2026.
What documents you will need
The documents NS&I requires depend on the size of the estate and whether there is a will.
| Document | Required? | Notes |
|---|---|---|
| Death certificate | Always | Photocopy, scan, or original – NS&I accepts all three |
| Deceased’s personal details | Always | Full name, address, date of birth, date and place of death |
| Your details as executor | Always | Full name and address |
| Your bank account details | Always | NS&I pays by BACS transfer |
| NS&I holder number | If available | Helpful but not essential – NS&I can trace accounts |
| Will | If there is one | Original or solicitor-certified copy |
| Grant of Probate or Letters of Administration | If total NS&I savings are £5,000 or more | In Scotland: Confirmation |
NS&I accepts photocopies, scans, and original documents – you do not need to send certified copies or originals. This makes NS&I more flexible than many banks on documentation. If you are also notifying high street banks – most of which do require original or certified copies of the death certificate – it is worth ordering several certified copies from the register office at the outset. Each copy costs £11 in England and Wales (source: gov.uk/order-copy-birth-death-marriage-certificate). You can send photocopies to NS&I and keep the originals for institutions that require them.
Source: NS&I bereavement help page, last verified June 2026.
What happens to each NS&I product
Premium Bonds
Premium Bonds are by far NS&I’s most widely held product and have unique rules that other savings accounts do not.
The 12-month prize window. After a holder dies, their Premium Bonds remain eligible for the monthly prize draw for up to 12 calendar months from the date of death. The clock starts from the date of death – not from the date you notify NS&I. As executor, you have a choice: cash them in immediately, or leave them in the draw for some or all of that 12-month period. The bonds’ face value is always returned in full – the draw is a bonus, not a risk.
| Option | What it means |
|---|---|
| Cash in immediately | Bonds are removed from the draw. Any prizes already won up to and including the month of the claim are forwarded to you. You receive the full face value. |
| Keep in the draw | Bonds continue entering monthly prize draws until you claim or until 12 months elapses. Prizes are paid by warrant (similar to a cheque) to the executor and added to the estate. |
Prizes after death are paid by warrant. Once NS&I has been notified of the death, prizes are no longer credited to the deceased’s account. They are paid by paper warrant to the person legally entitled to the estate – typically the executor. If you receive a prize warrant before the claim is fully processed, return it to NS&I and they will reissue it correctly.
What happens after 12 months. If the bonds have not been claimed within 12 months of the date of death, NS&I automatically removes them from the draw and transfers the capital to the NS&I Unclaimed Premium Bonds Account. The money does not disappear – it remains claimable at any time with no time limit or charges – but no further prizes can be won and the bonds cannot be re-entered into the draw.
Premium Bonds cannot be transferred or inherited directly. They must be cashed in and the proceeds paid to the estate. If a beneficiary wants Premium Bonds, they need to open their own account and purchase them afresh. The minimum purchase is £25 and the maximum holding is £50,000 per person (source: nsandi.com, last verified June 2026).
The face value counts towards Inheritance Tax. Premium Bond prizes are tax-free during a holder’s lifetime, but the underlying capital is part of the estate and must be included in any Inheritance Tax calculation. Prizes won after the date of death are also treated as part of the estate for IHT purposes, as they accrue to the estate rather than to a living individual.
For full detail on this product, see what happens to Premium Bonds when someone dies.
Direct Saver, Income Bonds, and Investment Account
All NS&I savings accounts continue to earn interest from the date of death until the account is closed. The accrued interest forms part of the estate. NS&I will confirm the final balance, including interest, as part of the claim process.
For Income Bonds, which pay monthly income, any interest payments that were due but not received by the date of death will be forwarded to the estate during the claim.
For the Investment Account – NS&I’s older variable-rate account, which is no longer open to new customers – the same rules apply: interest accrues until closure, and the final balance including accrued interest is paid to the estate.
Tax on interest after death. Interest earned on NS&I savings accounts after the date of death is treated as estate income. The estate may need to report it to HMRC depending on the size of the estate and how long administration takes. See our guide to notifying HMRC when someone dies for what needs to be reported.
Direct ISA
NS&I’s cash ISA follows the same rules as other ISAs on death. For deaths on or after 6 April 2018, it becomes a continuing account of a deceased investor – it retains its tax-free wrapper until the account is closed, estate administration completes, or three years and one day have elapsed, whichever is earliest. Interest continues to accumulate tax-free during this period.
For a surviving spouse or civil partner: the inherited ISA allowance (APS). When someone dies, their ISA does not pass directly to a spouse in its tax-free form. Instead, the surviving spouse receives an additional one-off ISA subscription allowance – the Additional Permitted Subscription (APS) – equal to the value of the deceased’s NS&I ISA at the date of death. This allowance is on top of the normal annual ISA limit (currently £20,000). The surviving spouse can use the APS allowance to make a matching contribution into their own ISA, preserving the tax-free status of that amount of money.
Time limit for using the APS. The APS allowance is available for three years from the date of death or 180 days after the completion of the administration of the estate, whichever is later. Missing this window means losing the allowance permanently.
How to apply at NS&I. NS&I offers a Direct ISA inherited allowance account specifically for this purpose, alongside a dedicated APS Transfer Authority Form. Both are available from nsandi.com/help/manage-money-for-others/inherited-savings. The surviving spouse applies directly – they do not need to be an existing NS&I customer.
The £5,000 probate threshold applies to NS&I ISAs as part of the total NS&I holdings, not as a separate calculation.
See what happens to an ISA when someone dies for the full ISA rules.
Guaranteed Growth Bonds and Guaranteed Income Bonds
These fixed-rate products – which NS&I has offered under various names over the years, including British Savings Bonds – continue to earn interest at the contractual rate until the account is closed as part of the estate. NS&I will confirm the final balance and applicable terms when you notify them. Early closure during the fixed term may involve an interest adjustment; NS&I will advise when processing the claim.
Fixed Rate Bonds and Green Savings Bonds
Fixed Rate Bonds and Green Savings Bonds continue to earn interest at the fixed rate until they are closed as part of the estate. NS&I will confirm the terms and final balance during the claim process. Early closure of fixed-rate products may result in an interest adjustment – NS&I will explain the applicable terms when you notify them.
Children’s Bonds
NS&I’s Children’s Bonds (sometimes called Children’s Savings Bonds) are fixed-term accounts held on behalf of a child. They are no longer on sale – NS&I closed them to new applications in 2017 – but many remain open. They are held in the name of a “responsible person,” typically a parent or guardian, who manages the account until the child turns 16.
If the responsible person dies, the Children’s Bond is not part of their estate in the usual sense – the underlying money belongs to the child. Contact NS&I on 08085 007 007 to transfer responsibility for the bond to another parent, guardian, or suitable adult. NS&I will advise on the process based on the specific bond and the child’s age.
If it is the child who has died, the bond forms part of the child’s estate and can be claimed by whoever is the child’s personal representative. Contact NS&I directly to discuss the process.
Can the estate reinvest proceeds into NS&I products?
When completing the NS&I bereavement claim, beneficiaries who are entitled to a share of the estate can ask for some or all of the money to be reinvested into NS&I products rather than paid out by BACS transfer. This can be into a product they already hold, or a new one they want to open. For example, a beneficiary who inherits £10,000 from a deceased’s Direct Saver could ask NS&I to place it directly into a new Income Bonds account.
There are restrictions on which products can receive reinvested funds: Premium Bonds cannot be reinvested directly – they must be cashed out and the beneficiary opens their own account separately. Children’s Bonds are also excluded from direct reinvestment. All other main NS&I product types accept reinvested estate funds.
Source: NS&I bereavement help page, last verified June 2026.
Joint accounts
If the deceased held an NS&I product jointly, the surviving account holder generally becomes the sole owner automatically. The claim process is simpler, fewer documents are typically required, and probate is less likely to be needed for the joint balance. Contact NS&I to confirm the exact steps – the bereavement team can advise based on the specific account type.
The £5,000 probate threshold
This is the most important rule to understand about NS&I in estate administration.
NS&I requires a Grant of Representation before releasing funds if the deceased’s total NS&I savings are £5,000 or more. This means the Grant of Probate (if there is a will), Letters of Administration (if there is no will), or Confirmation (in Scotland).
The threshold is far lower than most high street banks and building societies:
| Institution | Probate threshold (approximate) |
|---|---|
| Barclays | £50,000 |
| HSBC | £50,000 |
| Lloyds | £50,000 |
| Nationwide | £50,000 |
| Santander | £50,000 |
| NatWest | ~£25,000 |
| Metro Bank | £25,000 |
| NS&I | £5,000 |
The threshold applies to all NS&I products combined – not per product and not per account. A person with £3,000 in Premium Bonds and £2,500 in a Direct Saver holds £5,500 in total NS&I savings, which exceeds the threshold.
NS&I’s policy also states that the Director of Savings retains discretion to request a Grant of Representation for any amount, even below £5,000.
An estate that would be entirely straightforward elsewhere can require full probate purely because of NS&I. This catches many executors off guard, particularly when the person’s savings were modest and held only in Premium Bonds.
Source: NS&I bereavement help page, last verified June 2026.
If you need to apply for probate, you can do so yourself through the government’s online service at gov.uk/applying-for-probate, or use a solicitor. See our guide to how long probate takes for a realistic sense of the timeline.
Paying Inheritance Tax before probate: the IHT423 Direct Payment Scheme
When an estate owes Inheritance Tax, there is a practical problem: you typically need to pay the IHT before you can get a Grant of Probate, but you cannot access the estate’s assets without probate. NS&I helps solve this.
NS&I participates in HMRC’s Direct Payment Scheme. This means NS&I can transfer money directly from the deceased’s accounts to HMRC to pay an IHT liability – without waiting for a Grant of Probate. This is done using form IHT423 (one form per institution or account type).
The process works as follows:
- Complete form IHT400 (the Inheritance Tax Account, sent to HMRC) and calculate the IHT due.
- Complete a separate IHT423 for NS&I, specifying how much you want NS&I to transfer directly to HMRC.
- Send the IHT423 to NS&I, along with a copy of the IHT400.
- NS&I transfers the specified sum directly to HMRC. You receive written confirmation when the transfer is made.
- HMRC processes the payment, and the IHT421 (Probate Summary) is issued, allowing you to proceed with the probate application.
What to note. The IHT423 scheme applies to accounts where the funds are accessible – Premium Bonds, Direct Saver, Income Bonds, and similar. It does not require the full balance to be transferred; you can specify any amount up to the account balance. NS&I will advise if there are any restrictions on a specific product.
This is particularly useful when the main estate asset is a property (which cannot be sold before probate) and the only liquid assets are NS&I savings. It avoids the need to borrow money to pay the IHT bill.
Source: gov.uk – Pay your Inheritance Tax bill: From the deceased’s accounts, last verified June 2026.
Scotland and Northern Ireland
Scotland
Confirmation is the Scottish equivalent of a Grant of Probate. It is issued by the Sheriff Court and serves the same purpose – authorising the executor to deal with the estate. NS&I accepts Confirmation in exactly the same way it accepts a Grant of Probate from England and Wales.
In Scotland, the executor named in a will is called an executor-nominate. Where there is no will, they are called an executor-dative. Either can deal with NS&I. The NS&I £5,000 threshold applies in Scotland in the same way as in the rest of the UK.
Small estates in Scotland. If the total value of the Scottish estate is £36,000 or less, it qualifies as a “small estate” under Scottish procedure. The sheriff clerk at your local Sheriff Court can assist you in completing the estate inventory (form C1) at no court fee, and you will not need to obtain a bond of caution. This simplified process still results in a Confirmation document, which NS&I accepts in the usual way.
For estates above £36,000, Confirmation follows the standard “large estate” procedure – typically using solicitors and with full court fees payable.
Source: Scottish Courts and Tribunals Service – small estates, last verified June 2026.
Northern Ireland
Probate in Northern Ireland is administered by the High Court through the Probate Office in Belfast, which is part of the Northern Ireland Courts and Tribunals Service (NICTS). The process is broadly similar to England and Wales. You apply for a Grant of Probate (if there is a will) or Letters of Administration (if there is no will) from the NICTS Probate Office.
The documents NS&I requires are the same as for England and Wales – a Grant of Probate or Letters of Administration from the NICTS.
For guidance on Northern Ireland probate, visit justice-ni.gov.uk or contact the NICTS Probate Office directly.
All other NS&I rules – the prize draw window, probate threshold, Tell Us Once and DNS exclusion, and interest accrual – apply uniformly across England, Wales, Scotland, and Northern Ireland.
How long it takes
Important: NS&I is currently experiencing delays. As of May 2026, NS&I’s stated response time for bereavement enquiries is eight weeks – significantly longer than their standard window. This is due to changes made to the bereavement claims process following a March 2026 review of estate search procedures. If your claim is already in progress, NS&I says no additional action is needed from your end (source: NS&I bereavement claims update, May 2026).
Once NS&I returns to normal operations, the standard processing time is approximately 11 working days after all completed documentation is received.
For estates below £5,000 total NS&I savings: once your documents are received, settlement typically takes around 11 working days in normal circumstances. Payment is made by BACS transfer to the bank account you specify.
For estates above £5,000: the main delay is the probate process, not NS&I. Once NS&I receives the Grant of Representation, they process the claim within the standard window. Probate itself takes an average of 16 weeks for a straightforward application in England and Wales (source: gov.uk/applying-for-probate).
The most common cause of delays beyond the above is incomplete documentation. Check NS&I’s list of required documents carefully before posting or uploading – a missing item will restart the wait.
The 2026 NS&I repayment issue
In March 2026, NS&I disclosed that a flaw in its search process had caused thousands of bereavement claims to be settled without all of the deceased’s savings being identified. Executors and administrators who made claims received money for the accounts NS&I found – but not for any additional accounts or savings the search missed.
Scale: After a full review, NS&I confirmed in May 2026 that around 34,000 estates were affected, with a total value of approximately £367 million in missing holdings. (An earlier estimate in March 2026 had put the figures at 37,500 estates and £476 million – NS&I has since reduced both numbers following its review.) Cases span bereavements from 2008 to 2025.
What NS&I is doing: NS&I began sending letters to affected legal representatives from 27 May 2026. Letters are being dispatched in weekly batches and the process is expected to run through 2027. Each letter will include a dedicated phone number for queries. If an estate is owed money, NS&I will repay the full amount outstanding, adjusted upward using the higher of interest accrued since the error or the Bank of England base rate plus one percentage point. Estates may also submit claims for reasonable costs caused by the delay.
Tax position: HMRC has confirmed that returned holdings are fully exempt from Inheritance Tax. Personal representatives face no income tax liability on interest accrued before death or during estate administration.
What you need to do: In most cases, nothing. NS&I is proactively identifying affected estates and writing directly to legal representatives. If you are concerned and have not heard from NS&I, you can contact them on 08085 007 007.
One important warning: NS&I has explicitly advised families not to use claims management companies to pursue repayments. These firms add fees and cost but do not speed up the process. NS&I is handling all repayments directly.
Source: NS&I bereavement claims update, May 2026.
How to find out if the deceased held NS&I savings
Many people hold Premium Bonds bought decades ago without telling their family. Before assuming there are no NS&I accounts, it is worth checking – around 24 million adults in the UK hold Premium Bonds, making them one of the most frequently overlooked assets in an estate.
There are three ways to trace NS&I savings:
1. Contact NS&I directly. Call 08085 007 007 and explain you are the executor or administrator. NS&I can search for any accounts registered in the deceased’s name. You will need the deceased’s full name, date of birth, and last known address.
2. Use My Lost Account. The free tracing service at mylostaccount.org.uk covers NS&I savings as well as high street banks and building societies. Results are typically returned within three months.
3. Search NS&I correspondence. NS&I sends prize warrants by post to Premium Bond holders when they win. Holders also receive an annual statement. Old letters, statements, or prize warrants may show a holder number (sometimes called a “bond number” on older paperwork) – useful to have when you call, though not required.
If you find an NS&I holder number, you can also check for unclaimed prizes at nsandi.com/help/lost-touch-with-nsandi/check-unclaimed-prizes using the number and the deceased’s date of birth. As of early 2026, NS&I holds over £116 million in unclaimed prizes – some going back many years.
Things to watch out for
Premium Bonds are frequently overlooked. Many people hold bonds bought decades ago without telling their family. If you are not sure whether the person who died held NS&I savings, see the tracing steps in the section above – NS&I can search by name, and the free My Lost Account service also covers NS&I.
Checking for unclaimed prizes. Run a free check at nsandi.com/help/lost-touch-with-nsandi/check-unclaimed-prizes using the holder’s number and date of birth. As of early 2026, NS&I holds over £116 million in unclaimed Premium Bonds prizes – some going back many years. Prizes won before the date of death, and prizes won during the 12-month prize window, are all included in the final claim. There is no time limit or charge to claim them.
The 12-month window runs from the date of death, not from notification. If the estate is slow to settle, keep track of the countdown. If bonds are still in the draw when the window closes, the capital is transferred to NS&I’s Unclaimed Premium Bonds Account – recoverable, but no further prizes.
What happens to the deceased’s NS&I online account. If the person who died had an NS&I online account (used to manage Premium Bonds, Direct Saver, or Direct ISA), that account is frozen when NS&I is notified of the death. Executors cannot log in using the deceased’s credentials – and attempting to do so would be inappropriate. All claims must go through the bereavement process by phone, online form, or paper form, not through the deceased’s account.
Interest on savings accounts is taxable. Premium Bond prizes are tax-free, but interest on Direct Saver, Income Bonds, and Investment Account balances is taxable income. The estate may need to account for this to HMRC. See our guide to notifying HMRC when someone dies for what needs to be reported.
NS&I is 100% government-backed. Unlike bank deposits, which are protected up to £85,000 by the FSCS, NS&I savings are guaranteed in full by HM Treasury – there is no cap. The money is safe regardless of how long the estate takes to settle (source: nsandi.com).
Summary
Notify NS&I by calling 08085 007 007, using the online form at forms.nsandi.com, or by post using the NS&I 904 paper claim form to NS&I, Sunderland, SR43 2SB. NS&I is excluded from both Tell Us Once and the Death Notification Service – it must be contacted separately. Allow around eight weeks for a response at present.
Key rules to know: NS&I’s probate threshold is £5,000 across all products combined – far lower than most banks; Premium Bonds can remain in the monthly prize draw for up to 12 calendar months from the date of death; unclaimed prizes do not expire; NS&I participates in HMRC’s IHT423 Direct Payment Scheme, allowing Inheritance Tax to be paid from NS&I funds before probate; surviving spouses may claim an inherited ISA allowance (APS) from NS&I within three years of the death; beneficiaries can ask NS&I to reinvest estate proceeds directly into NS&I accounts (except Premium Bonds and Children’s Bonds); in Scotland, Confirmation from the Sheriff Court is the equivalent document to a Grant of Probate, and small estates under £36,000 can use the simplified sheriff clerk process; in Northern Ireland, probate is handled by the NICTS Probate Office in Belfast; and if a bereavement claim was made between 2008 and 2025, the estate may be owed additional funds following NS&I’s 2026 repayment programme (no action required – NS&I will write directly).
For a broader view of what happens to savings and financial accounts, see what happens to a bank account when someone dies and what happens to a savings account when someone dies. If probate is needed, see how long probate takes.
If the person who died was your spouse or civil partner, you may also be entitled to Bereavement Support Payment – a tax-free government payment worth up to £9,800. Claim within three months to receive the full amount.