The inherited ISA allowance

Using the inherited ISA allowance with Nationwide

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How it works if you want to register your inherited ISA allowance with us

  • Provide us with a copy of your partner’s original death certificate. You can send this to us or bring it into a branch.
  • Remember to do this with any other providers that your partner had ISAs with, too.
  • We’ll register your partner’s death and let you know when we’ve done this.
  • We’ll also let you know which accounts your partner held with us.
  • Once you’ve done this, you’ll know what ISAs your partner held and who with. If you add up the amount of money held in all of their ISAs, this will be your new inherited ISA allowance.

  • Request an Inheritance ISA pack or get one from a branch.
  • Fill in the Inheritance ISA form from the pack so we can register the total allowance from their ISAs with Nationwide, and other providers.
  • We’ll register your allowance and let you know when we’ve done this.
  • If you’re registering allowances from other providers, we’ll contact them for you and make sure the total allowance is registered with us.
  • You can only choose one provider to register your allowance with.
  • At this stage, you’re registering the inherited ISA allowance, not moving any money.
  • Once you’ve registered, we’ll send you a letter to confirm your total inherited ISA allowance.

We’ll register your allowance within 5–10 working days, but it might take up to 30 working days to move your allowance from other providers.

  • When you first register your inherited ISA allowance, you can pay money in by cheque or, if it’s from another Nationwide account that’s not an ISA, by using a transfer request.
  • Once your allowance is registered, whenever you pay in money you’ll need to complete a paying-in slip. You can then post this to us or drop it into a branch.
  • We’ll make sure your money is saved against your allowance.
  • Once it’s in there, we’ll write to you to let you know how much of your inherited ISA allowance you’ve used.
  • If you pay in more than your inherited ISA allowance, we’ll send the excess money back to you by cheque.
  • You can only put your own money into the account.
  • You can pay in money as and when you like, whether it’s one lump sum or every now and again.
  • If you need more paying-in slips, fill in the request form. Alternatively, you can call us on 0800 30 20 11 or pop into a branch.

When you register your allowance and pay your money in using a transfer request, we’ll make sure the money’s there by the end of the next working day. If you pay it in using a cheque, the money will be paid in after the cheque has cleared. This can vary, but is usually six working days after we’ve received it.

  • You can move your money into another cash ISA in branch or, if you’re registered, using the Internet Bank.
  • You can also take the money out as cash, but this means it’ll lose its tax-free ISA status.
  • We’ll transfer your money into the account you’ve chosen.
  • If you close your allowance before it’s all been used, you can still register a new one. You’ll just need to make sure it’s within three years of your partner passing away, or 180 days after the administration of the estate has been completed (whichever is the later date).

If you’re transferring your money to a Nationwide cash ISA, it takes five working days after we receive your request.
If you’re transferring to another provider, it can take up to 15 working days to move your money.

Your questions answered

Yes, if your partner passed away on or after 3 December 2014. You’ll need to have been married to, or in a civil partnership with, your partner when they passed away. You need to have been living together and not legally separated or about to become legally separated.

Unfortunately not. You can only pay into your inheritance ISA from accounts which aren’t ISAs.

The inherited ISA allowance is in addition to your personal annual ISA allowance, so that won’t be affected at all. You can use your personal annual ISA allowance with the same ISA provider or a different one.

Each time you pay money into your account, we’ll write to you to confirm your new balance and how much of your inherited ISA allowance is left. We’ll also send you a summary of this once a year. You can check your balance over the phone, in branch or, if you’re registered, using the Internet Bank or our Banking app.

Before registering your inherited ISA allowance, make sure you’ve registered your partner’s death with us and, if they held ISAs with other providers, contact them, too. You can let us know by writing to us or coming to see us in branch, and we’ll need to see a copy of their original death certificate.

You’ll just need to make sure you’ve completed both parts I and II of the inheritance ISA form.

You’ll need to contact the other provider who will manage this for you.

You might want to think about it as it could mean you’re paying less tax on your savings. And if your personal ISA is with us, your ISA allowance will all be in one place. It’s up to you.

You'll need to complete an application form for your new inherited ISA allowance. This will ask you for information including:

  • the date of your marriage or civil partnership
  • your partner’s date of birth and the date they passed away
  • your partner’s address at the time they passed away
  • yours and your partner’s National Insurance numbers
  • if this will be your first Nationwide account, you’ll also need to show us some ID, such as your passport or driver’s licence.

Cash ISAs, Stocks & Shares ISAs, Innovative ISAs and Lifetime ISAs all count towards your allowance. The only one that doesn’t count is a Junior ISA.

Your allowance is available for three years after your partner has passed away. If the administration of the estate takes longer than this to complete, we’ll just need to see some evidence so we can still let you put money in (up to the inherited ISA allowance limit). 

You’ll be able to do that until 180 days after the administration of the estate has been completed. To find out what you can use as evidence, just call us on 0800 30 20 11.

You might want to think about how you can make the most of your money, for example by moving it into another cash ISA. You can even do this after you’ve opened the account. You’ll just need to fill out part I, section C of the inheritance ISA form when you’re registering your allowance.

Inheritance ISA Summary Box and important documents