SAFE DEPOSIT BOX RELEASE
R.S. 54:35-19 provides that the contents of a safe deposit box standing in the name of a
decedent either individually, jointly or otherwise may not be released without at least a 10
day notice to the Director of the intended delivery and the retention of sufficient assets to
pay any tax and interest which may be assessed on the assets. The statute provides that the
Director may examine the assets of a decedent contained in a safe deposit box.
In 1992, the Division determined that it would no longer inventory safe deposit boxes held
by a decedent at the time of his or her death. Since September 30, 1992 the Director has
executed a blanket waiver which is re-issued every five years.
On December 23, 2021 the Director re-issued the blanket waiver authorizing the immediate
release of the contents of a safe deposit box for the period from January 1, 2022 to January
1, 2027.
To: All Banks, Trust Companies, Savings
Institutions, Safe Deposit Companies,
Savings and Loan Associations, or
Other Institutions
The Director, Division of Taxation, Department of the Treasury of the State of
New Jersey, hereby waives the requirements of Revised Statutes 54:35-19 with respect to
the issuance of the ten days notice and retention of assets for the opening of safe deposit
boxes standing in the name of decedents either individually, jointly, or otherwise, or to
which they had access and consents to release of the contents thereof.
This waiver is effective January 1, 2022 and shall expire January 1, 2027 unless
cancelled by prior notice.
The institution releasing the contents of safe deposit boxes should keep a copy of this
letter for its own records.
John Ficara
Acting Director
Division of Taxation
