If you are now the owner of the savings bonds or if your parent listed you as the survivor beneficiary on the bonds, take them to a bank or other financial institution. In the presence of a bank official, fill out the redemption form on the back of the bonds and sign it. A driver’s license or other form of identification is required. You must also provide proof of death if you are mentioned as a survivor. This is usually done by a verified copy of the death certificate. The bank will redeem the bonds and pay you the proceeds.
How can I redeem a savings bond for someone who has passed away?
- Don’t do anything. Until the bond matures, it will continue to receive interest. Our office will hold semi-annual interest payments and pay them when the bond is cashed.
- Reissue: Have the bond reissued in the name of the survivor. A coowner or beneficiary may be added to the bond by the new owner.
- Along with FS Form 5396, submit a certified copy of the owner’s death certificate (download or order). Although the bond will not be physically reissued, you will continue to receive semi-annual interest payments. (A death certificate or other legal evidence will not be returned.)
Cash (Redeem) a paper bond with a named survivor
Series EE and I: Take your savings bonds to a financial institution that accepts them and provide proper identification as well as any supporting documentation that may be necessary. It’s a good idea to phone the banking institution ahead of time to find out what kind of identification and documents you’ll need.
Your local bank is not permitted to cash Series HH bonds, but they can assist you in submitting your transaction.
HH Savings Bonds (Cashing Series)
Reissuing a paper bond with a survivor named on it
Paper reissues of Series EE and Series I bonds are no longer available. Instead, TreasuryDirect converts the bonds to electronic bonds. If you are the survivor, you can use SmartExchange to convert your bond.
Series HH: Paper reissues of these bonds are still available. Reissuing or Replacing Series HH Savings Bonds has instructions.
How do I get money out of savings bonds that aren’t in my name?
If you are not identified as the owner or co-owner on the bond, you must produce legal evidence or other documentation to establish you are entitled to cash the bond, regardless of where you cash it. (Legal evidence is not returned.)
It is important to note that savings bonds cannot be transferred. You can’t cash a bond that belongs to someone else or that you bought on an internet auction site. (See Death of a Savings Bond Owner if you inherit a bond through the death of the bond owner.)
How can I cash in my inherited bonds?
Present the bond (along with identification) to a financial institution that pays savings bonds to redeem it. If the bond is still earning interest and isn’t nearing its end, get it reissued (re-registered) in the survivor’s name alone or in the name of another individual.
When someone dies, what happens to their bonds?
They can, however, stay in the monthly Premium Bonds draws for up to a year after the client has passed away.
After the 12-month term has passed, the face value of the Premium Bonds, as well as any prizes won during that time, will be reimbursed to the dead customer’s estate.
To retain the Bonds in the draw, the person in charge of the deceased customer’s money should indicate this on the death claims form.
Any Premium Bonds awards won will be paid via prize cheque to the person entitled to the money – the estate’s executor – after the prize draw.
Any unclaimed awards will be held until the death claim is processed, after which they will be distributed.
Following the completion of the death claim, we will send any future prizes earned by check to the individual who is entitled to the money.
We are unable to award these prizes online or to consolidate and pay them at the end of the year.
To cash a savings bond, what documentation do I need?
If you want to redeem a paper E/EE or I bond, you’ll need a few items. You’ll also need confirmation of identity, such as a driver’s license from the United States. You’ll also need an FS Form 1522 that hasn’t been signed. They’ll see you sign the document and then certify your signature if you go to your local bank or credit union.
The unsigned bonds, along with the signed FS Form 1522 and, if you’re the bond’s beneficiary, accompanying legal evidence or other papers to indicate you’re entitled to cash the bond, should be sent to the US Department of Treasury at:
The same steps apply for series H or HH paper bonds, only you’ll ship the unsigned bonds to the US Treasury at:
What steps does an executor take to cash savings bonds?
If the representative was given complete powers by the court, the court-appointed representative could
- distribute the savings bonds, allowing the bondholders to request that the bond be reprinted or redeemed.
Cashing the bonds at your local bank
You must sign the request for payment on the back of the bonds with an indication of your role to cash (redeem) paper EE or I bonds in an estate as the court-appointed representative. Because banks are unable to cash Series HH bonds, you must mail them to our office. If your local bank refuses to cash the bonds, follow the procedures in the section “If your local bank refuses to cash the bonds.”
If you are the executor of the estate, for example, you would sign the back of the bond as follows: “, executor of the will of, deceased.”
(Local banking institutions that are savings bond payingagents have the authority to cash the bonds if the court-appointed representative of an estate requests redemption of savings bonds that are part of the deceased bondowner’s estate.) A paying agent, on the other hand, is not obligated to fulfill the court-appointed representative’s request, and if the agent refuses to cash the bonds, the representative can send them in as specified below.)
You must produce proof of both the death(s) of the people identified in the registrations on the bonds and proof of your appointment when cashing the bonds.
- A certified copy of the death certificate(s) by the office or official who has the original death certificate (s). The seal of the office or official should be visible.
- Evidence proving you were appointed as the estate’s representative by the court. The clerk of the court must certify the copy of the court document as true and correct, as well as include the clerk’s statement that the appointment is still in full force and effect. Before you cash the bonds, the clerk’s statement must be no more than 12 months old. (A death certificate or other legal evidence will not be returned.)
If your local bank will not cash the bonds:
- Sign the form (showing that you are the court-appointed executor of the estate). You may need to perform this in front of a certifying official and have it certified (see instructions on the form).
Distributing the bonds
As the court-appointed representative, complete these steps to distribute the paper bonds in an estate (distribute specificbonds to specific people):
- Fill out FS Form 1455 (download or order) to specify how the bonds should be allocated among the beneficiaries of the estate’s bonds. Individual ties cannot be separated; they must be distributed in their entirety.
- Sign the paperwork (showing that you are the estate’s court-appointed agent) in the presence of a certifying official and get your signature validated (as explained on the form).
- People who are entitled to the bonds should specify what they intend to do with them.
- FS Form 1522 must be completed and signed by the person who is entitled to the bond (download or order). It’s possible that the signature will need to be certified (see instructions on the form).
- Reissue: The individual entitled to the bond must complete FS Form 4000 (download or order) and have his or her signature confirmed.
- The person who is eligible for EE bonds must fill out Parts A and C of FS Form 4000 and open a TreasuryDirect account. The bond will be issued in the person’s sole name in electronic form.
- To receive semi-annual interest payments by direct deposit on HH bonds, the new owner must complete Parts B and C of FS Form 4000 and submit FS Form 5396 (download or order).
- a certified copy of the death certificate(s) from the office or official who has the original death certificate The seal of the office or official should be visible.
- Evidence proving you were appointed as the estate’s representative by the court. The clerk of the court must certify the copy of the court document as true and correct, as well as include the clerk’s statement that the appointment is still in full force and effect. The clerk’s statement must be no more than 12 months old when the bonds are sent in.
Is it possible to cash a savings bond that belongs to someone else?
When it comes time to cash in your savings bonds, as long as you have the necessary documentation, the process will be relatively simple. It’s important to keep in mind that savings bonds cannot be sold, exchanged, or given away. The only person who can cash in the bond is the person whose name is on it (with a few exceptions, which we’ll discuss shortly).
First and first, you’ll need the bond (unless it’s an electronic bond, in which case there’s no step at all). The monies are deposited into your bank account once you cash it in via the Treasury Web site). However, make certain that the bond may be cashed: It’s been at least a year since it was published (some bonds only require a six-month retention period).
Is it possible to transfer a savings bond to someone else?
Yes. The owner of EE and I Bonds can transfer them to another person with a TreasuryDirect account; however, you must wait five business days from the purchase date to do so.
A savings bond can be transferred to another TreasuryDirect account in whole or in part. See What is the procedure for transferring savings bonds from one TreasuryDirect account to another?
What happens if I transfer savings bonds to another TreasuryDirect customer? Will the recipient’s purchasing limit be affected?
When you transfer savings bonds to another customer, the value of the transfer is deducted from the yearly purchase limit for each savings bond type for the year in which the transfer happens.
Is it possible to move marketable securities from one TreasuryDirect account to another or to a broker/dealer account?
Yes. Marketable Securities can be transferred in $100 increments. You can send a portion or the entire value of a single investment or a group of securities to a single recipient or financial institution. See What is the procedure for transferring marketable securities from my TreasuryDirect account?
No, you must transfer marketable securities from your TreasuryDirect account to a broker/dealer account in order to sell them.
The securities can be sold by the broker/dealer on your behalf.
Is it possible to transfer marketable securities from a non-TreasuryDirect account to my TreasuryDirect account?
Yes. You can contact your broker to have marketable securities from another account transferred as an Incoming External Transfer to your TreasuryDirect account. Customer Service will handle your request and add issued securities to your Current Holdings. For maturity and interest payments, incoming transfers are issued with your primary bank information as the payment destination (if applicable). For specific instructions, see Learn More About Transfers.
Is it possible to transfer marketable securities from my old TreasuryDirect account to my new TreasuryDirect account?
Yes. Complete a Security Move Request, FS Form 5179, to transfer assets from Legacy Treasury Direct to your TreasuryDirect account. Incoming transfers are deposited into your TreasuryDirect account’s Current Holdings.
What happens if I transfer a marketable security that was initially slated for deposit in my C of I before it matures?
Any purchases you have scheduled utilizing Zero-Percent C of I as the source of funds may be impacted if you elect to transfer a marketable security prior to maturity. If funds are inadequate to cover the purchase request, the purchases may be canceled.
What if the form of registration for transferring marketable securities from an outside broker to my TreasuryDirect account is invalid?
We shall refuse any inbound security transfer request that has an invalid form of registration.
What if the marketable security I want to move in from another outside account is registered with the words “OR,” “AND,” or “With Right of Survivorship”?
Regardless of the method of registration prior to the transfer, a security transferred from an outside account into a TreasuryDirect account will be transferred in the name of the individual account owner in single owner form. The registration can be changed to any allowable registration after the transfer is accomplished.
After you die, how long can you keep premium bonds?
Bonds from Premium Bonds will be kept in each prize draw for up to 12 months after the customer’s death. You must send the Bonds to us, along with the completed claim form, to keep the Bonds invested.