Non owners/co-owners must establish entitlement to cash the bonds (eg: an original death certificate if cashing bonds on behalf of a deceased relative). Parents signing on behalf of a minor child must submit the child's original birth certificate, as well as their own photo identification.
Note: Do not buy savings bonds from someone else or in an online auction site. You cannot cash them. You can only cash bonds that you own or co-own unless you have legal evidence or other documentation that we accept to show you are entitled to cash the bond. How do I know how much my bond is worth?
You can gift a savings bond to adults or children. A child under 18 can have a TreasuryDirect account if the child's parent or other adult custodian has a TreasuryDirect account and sets up a linked account for the child. In TreasuryDirect, you can give anyone either EE or I savings bonds.
In addition to the bonds, you'll need to provide proof of identity, like a United States driver's license, and partner with a notary to notarize and certify your signature on an unsigned FS Form 1522 to your local bank or credit union. Note: When cashing in a paper bond, they must be cashed in full.
You may cash a savings bond for a child (a minor under the age of 18) if all of these statements are true: The child is too young to understand a request for payment. You are the child's parent. The child lives (resides) with you OR you have been granted legal custody of the child.
OPTION: Payment to a beneficiary is at the option of your financial institution. If your institution doesn't want to make the payment, refer the customer to TreasuryDirect.gov and its instructions for cashing by mail. Don't cash the bond. The customer must have a certified death certificate.
If only one person is named on the bond and that person has died, the bond belongs to that person's estate. If two people are named on the bond and both have died, the bond belongs to the estate of the one who died last.
If the bonds are $100,000 or less and the estate has not been formally administered through court, the beneficiary can request to cash in the bond by mailing a signed and notarized FS Form 5336 with the bond and proof of death to the Bureau of Public Debt.
To cash in a savings bond(s) at your local branch you must meet the following: A signer on a U.S. Bank checking, savings or money market account that has been open for five (5) years or more. Listed as the owner or co-owner of the savings bonds.
If your name has changed because you've gotten married, you can redeem a savings bond as you normally would. If you're cashing a paper bond, you'll have to sign using both your maiden and married names.
Once in your TreasuryDirect account, the bond will be registered in your name alone. You can then add either a secondary owner or beneficiary. Once you have a TreasuryDirect account, you can convert other paper bonds you own to electronic bonds.
The only savings bonds that still earn interest are I bonds and some EE and HH bonds. For those, you must look at the issue date. EE and I bonds earn interest for 30 years from the issue date.
Redeem your savings bond at a bank. If you're the owner or co-owner of a bond, you may be able to cash it in at a bank. You need to provide proof that you're legally entitled to redeem the bond if you aren't listed as an owner.
“A shortcut you can take to find missing savings bonds is to head to treasuryhunt.gov, which shows matured, uncashed savings bonds,” says Leslie H.
The federal government knows that name changes are common, so as long as you produce the necessary documentation, you won't have problems if you want to cash a savings bond that shows your maiden name. Check your bond to make sure it's eligible for payment.
► Enter the gift recipient's name and SSN in the first-named registration section. ► Designate the gift recipient as the sole owner or primary owner. ► Be sure to click on the box “This Is A Gift” . ► Click Submit and you'll return to the Purchase Page where you will select the registration you wish to use.
FINAL MATURITY INFORMATION
Any bonds that have reached final maturity may not be reissued. The only option is to cash the bonds.
An executor can cash savings bonds for the deceased person he represents..
First, the child must be too young to sign the request for payment. Second, the child must live with the parent, or the parent must have legal custody of the child. To redeem the bond, the Treasury advises that you write specific language on the back of the bond and sign it as parent on behalf of the child.
Paper savings bonds can typically be cashed in at your bank or credit union. If you plan to visit a financial institution where you're not a member or customer, you may want to see if it will cash your bond before you visit. Check with the bank to confirm what documents you'll need to bring.
Two owners co-own the bond. If one owner dies, the other becomes the single or sole owner. Neither owner can be an entity. The first-named owner is the primary owner.
By buying a bond, you're giving the issuer a loan, and they agree to pay you back the face value of the loan on a specific date, and to pay you periodic interest payments along the way, usually twice a year. Unlike stocks, bonds issued by companies give you no ownership rights.
How to claim Premium Bonds after a death. The Executor can trace and claim Premium Bonds belonging to the deceased either online or by post. If applying by post, they must include a copy of the death certificate and the Will. If applying online, the Executor must complete a bereavement claim form.
After the one-year mark, you can go ahead and cash in your bond, but you will get hit with a penalty of three months' interest earned on the bond. There is no penalty if you simply hold onto the bond after five years. There is value in holding onto most bonds.