This is only one example of the billions of dollars in unclaimed bonds awaiting discovery.
Associated Press This undated photograph depicts a war bond poster created by Robert Sloan for the United States government to encourage citizens to purchase war bonds.
Associated Press Writer MATT GOURAS
Associated Press Writer Matt GourasSunday, October 18, 4:56 p.m. ET
MONTANA’S HELENA The federal government is being sued for billions in unclaimed bonds dating back to World War II patriotic fundraising efforts, resulting in a battle between states claiming ownership and the Treasury Department claiming ownership.
During World War II, one of the greatest advertising campaigns in history produced an extraordinary bond-buying frenzy, fueled by dutiful calls from celebrities, politicians, and cartoon characters alike.
Most American households purchased at least one bond at the time, and many of them never cashed them in, thanks to the bonds’ 40-year maturity. The federal government continued to sell the same “Series E” war bonds until 1980.
More than $16 billion in bonds have gone unclaimed, either because the original purchasers died or because they were forgotten.
According to the state attorneys general who are suing the Treasury Department, the federal government made no effort to locate those individuals. They want the money sent to the states, who have a legal framework in place to track for the owners of unclaimed cash, such as unclaimed bonds.
“It’s preferable for the millions of Americans who are the true owners to have it returned to the states,” said David Bishop, a partner at Kirby McInerney who is representing the states in the claim. “And if they can’t find them after searching for them, the money can be put to good use in the areas where the bonds were purchased.”
The Treasury Department responds that it does try to locate owners of unclaimed bonds, and that it has a Web site where people may check if they have one by typing in their Social Security number. It also emphasizes that the money is not just lying around.
“One of the common misconceptions is that there is a large sum of money stashed away in a drawer. Savings bonds were used to fund the government’s everyday operating expenses, according to Joyce Harris of the Bureau of the Public Debt. “These are federal government obligations, not state obligations.” There isn’t a pot of riches out there just waiting to be snatched.”
The Treasury further notes that the majority of the unclaimed bonds are far newer than the initial World War II bonds. In addition, 97% of persons claim their bonds.
“To tell you the truth, people are aware of the ties,” she remarked. “When you contact them, the vast majority are aware of the relationships.”
It’s not like the states will get the money for free, which in Montana’s case amounts to $55 million.
The states would be liable to pay bonds regardless of how long it took them to show up decades or longer. Meanwhile, states typically set aside the income collected on unclaimed funds for schools or other uses.
Montana’s attorney general, Steve Bullock, said states, not the federal government, have the legal authority to deal with unclaimed funds.
“First and foremost, I believe it is the correct action to take. “I believe money should be in the hands of Montanans,” Bullock stated. “It’s a critical measure to take simply to safeguard the state’s interests.”
The plaintiffs were New Jersey and North Carolina when the complaint was first filed in federal court in New Jersey in 2004. The action was later joined by Montana, Kentucky, Oklahoma, and Missouri. If the lawsuit is successful, it will help all states.
The case will be decided on constitutional grounds. The federal government’s lawyers argue that the states lack standing to challenge what they regard as a contract dispute between the initial purchasers and the Treasury Department.
The states anticipate hearings in the case later this year on the federal government’s move to dismiss the complaint.
What is the best way to find out whether I have any unclaimed bonds?
You can verify if you have any lost bonds before submitting anything, according to Leslie H. Tayne, founder of the Tayne Law Group. “Treasuryhunt.gov, which lists matured, uncashed savings bonds, is a shortcut you can employ to find lost savings bonds,” Tayne explains.
Treasury Hunt is an online service provided by the Treasury Department. In 2017, the tool was retired, but it was resurrected in 2019.
Fill out Form 1048
Fill out Form 1048, “Claim for Lost, Stolen, or Destroyed United States Savings Bonds,” on the US Treasury’s website at treasurydirect.gov to look for lost savings bonds.
Tayne advises, “Fill out as much of the form as possible.” “Ask for the purchaser’s Social Security number and an estimate of the purchase timeline.”
Verify for your form
Don’t just sign your form after you’ve completed it to the best of your ability. It must be accredited. This isn’t easy, according to Justin Pritchard, a financial consultant at Approach Financial. “Getting your signature validated is the most difficult element of the procedure,” Pritchard explains. “To finish the process, you’ll need a signing guarantee or another appropriate kind of documentation. Unfortunately, having a paper notarized isn’t enough.”
Go to your local financial institution, such as a bank or credit union, to have your form confirmed. You will sign the form and have it confirmed by the institution’s certifying officer rather than a notary. Make an appointment with your bank or other financial institution ahead of time to see whether they have a certifying officer.
How do I find out whether I have any bonds in my name?
Ask your family members whether they have ever opened a bond in your name to see if there are any outstanding bonds in your name. Call your parents, grandparents, aunts and uncles, and anybody else you think might have bought a bond in your name in the past. After sifting through their filing cabinets, the family member may be able to discover the bond and hand it over to you for redemption.
Is it possible to look for savings bonds using your Social Security number?
You utilize Treasury Hunt to identify savings bonds that have reached their full maturity and are no longer collecting interest by entering your Social Security number and other information online. The Treasury Hunt program can only discover bonds issued after 1974, not before.
What happens to savings bonds that haven’t been cashed?
The majority of savings bonds have a 20- to 40-year original maturity. The Bureau does not notify bondholders when savings bonds reach their final maturity and stop earning interest. The Bureau has no active program to find bondholders and pay them the proceeds to which they are due for fully matured notes that have not been redeemed. The registered owner has traditionally been responsible for remembering to redeem the matured bond decades after the initial purchase. As a result, the US Treasury holds around $26 billion in matured savings bonds that have gone unclaimed.
What is the greatest website to use to search for unclaimed funds?
To find out if the federal government has any unclaimed monies, you must first determine the sort of benefit or payment that may be involved, the expected payment date, and how the payment should have been made.
Given this information, the agency in charge of certifying any outstanding payments should be able to assist you in determining the payment’s current status. The United States Government Manual, which is available in most public libraries, contains the titles and addresses for all federal departments.
The government entities listed below offer databases where you can search for unclaimed funds.
Their website was created by state unclaimed property experts to let the general public search for funds that may belong to you or your relatives for free.
Is it possible to cash savings bonds that are not in your name?
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).
What is the value of a $100 US savings bond?
You will be required to pay half of the bond’s face value. For example, a $100 bond will cost you $50. Once you have the bond, you may decide how long you want to keep it foranywhere from one to thirty years. You’ll have to wait until the bond matures to earn the full return of twice your initial investment (plus interest). While you can cash in a bond earlier, your return will be determined by the bond’s maturation schedule, which will increase over time.
The Treasury guarantees that Series EE savings bonds will achieve face value in 20 years, but Series I savings bonds have no such guarantee. Keep in mind that both attain their full potential value after 30 years.
On the back of a social security card, what is the bond number?
Rep. Bob Inglis related a story about meeting up with some voters who earnestly regaled him about the ominous origins of the number on the back of your Social Security card in David Corn’s post this morning. “They told him, “That amount represents the bank that purchased you when you were born based on a prediction of your life’s profits.”
It was a good time. But it got me thinking: what is the back of your Social Security card number? I couldn’t verify because I haven’t had a tangible Social Security card in decades. Marian, fortunately, is more careful than I am and was able to locate hers. On the back, there is, indeed, a number. But why is it there?
A Google search yielded little, much to my dismay. I did, however, come across a blog post that detailed a few fascinating facts concerning Social Security numbers. It was intriguing, but not exactly what I was hoping for.
Howles, F.: Here’s one to look into. What is the purpose of the red numerals on the back of a social security card?
Captian Sparrow, Jack: I’m curious as to what the red numbers on the reverse of the card are for. My curiosity is piqued as well.
freedomfighter: About the serial number or whatever it is on the back…I’m looking into it, but from what I’ve gathered, it’s a bank routing number that links you to a royalty british bank.
golbguru: Do you have a source for this assertion: “But, from what I’ve understood, that’s a bank routing number that identifies you as a royal British bank’s property.” That, in my opinion, is just nonsense.
freedomfighter2: I’m actually looking for documentation, but all I recall is hearing about it in some Google video…not the most encouraging evidence, but for now, until I’m proven wrong, I propose leaving it as a possibility…if I find the video, I’ll publish it.
I’m perplexed: I’m still looking into the numbers on the back of Social Security cards. The numerals on my friend’s card are red. Mine are a different color, and I’m not sure why.
Puzzled: By the way, that thing about your SSN being related to some royal British bank that you think is BS is completely accurate. Your Social Security number is linked to the Social Security Administration, which is linked to the Federal Reserve System, which is privately owned by stock-holding banks, one of which is Barclay’s, a Royal British Bank, as well as several American banks that are also owned and controlled by the British.
Beaver: The red numerals on the back of your social security card, according to popular mythology, are your EIN, or employment identification number. If you’re simply an ordinary John Doe citizen, you’re a US Corporation employee, and you’re also a corporation. That is why you should utilize the number on the front of the card, which is your employee ID number (SSN). If you get a new card, the number on the reverse is supposed to be printed in red ink, and you can use it to announce that you’re a sovereign American rather than a citizen of the United States…. If you dial the number on the back of the card, the “You’re claiming ownership of the card and the chattel property it represents by printing “tracking number for blank cards” in red ink on it. The chattel property is you. If you do not, they will “enslave” you You’re their chattel property, and you’re being held as collateral in the bankruptcy that the US government filed against worldwide financial firms during the Great Depression in the 1930s.
They instructed me to enter my birth year, followed by the red number. Choose a mutual fund and its number. If you have one, you’ll find out what it is. So, if I was born in the year 76, I’d type in 76xxxxxxxx.
Angry: I called the Social Security Administration to inquire about this. The following four responses came from the representative: (No. 1) “I have no idea, please wait.” 2) If you’re looking for a “Wait a minute, I’ve never heard of it.” 3) If you’re looking for a unique “I’m still checking; this is the first time I’ve ever been asked this question.” 4) Last but not least “It denotes the date on which the card was issued. It’s a reference number that has nothing to do with your Social Security number.”
RON: Your social security number is on the back of your card “Acc. # for Priority Exemption” The letter denotes the Federal Reserve Bank that holds the bond, and the last eight numbers are the account number.
chandra: Is it possible to look up the federal reserve bank that corresponds to the letter???
a good neighbor: At the Fed, one SSN is associated with ten bonds. The number on the back of the card is one of ten that identify the bond with which it is tied. The bond, which is kept by the Fed, is linked to an account. This is the account that was mentioned “Exemption for private individuals.” The Depository Trust Company is the sole means to gain control of these bonds/accounts.
Strobel: I’m trying to find out more about the red digits on the back of the SS card. That figure, according to a man I met, is used to pay his monthly bills. It’s allegedly a bank routing number for the British bank stated by a few folks here. Is there any more information about this?
No One: To answer your question about the red numbers on the back of your cards, when I worked for the government, I learned that during the Great Depression, the government began investing in the world market in our names and using our Social Security numbers so that if something similar happened again, they would be able to pay out the unemployed.
Falcon: I’ve heard a lot of various opinions regarding how to capture your STRAWMAN, charge up your treasury account, and pay off your debt so far in my investigation. The issue is that they’re all just hypotheses!
Please be wary of those that try to charge you money for this knowledge, my friends. I’ve already spent a lot of money, and the information I’ve received is contradictory. I have some acquaintances who are employed by a “Patriot” has gladly received thousands of dollars as a charge to assist them, and all that has happened so far is that their bank accounts have been frozen due to fraudulent cheques. Although no one has been detained, which is intriguing, I am keeping a careful eye on their progress.
As you can see, it’s becoming a little pitiful at this point. These claims are always ridiculous, but there are plenty of bottom feeders out there who prey on people who believe them.
But, of course, I don’t want you to be left in the dark. What is the back of your Social Security card number? Here’s the solution:
FedWorker: Inventory control is represented by the numerals on the back. Each blank piece of paper now has a unique number that must be tracked.
And here’s some more information from a speech given by Donald Walton, a United States bankruptcy trustee, on eight issues “important indicators that a subject’s social security card is real or counterfeit.” #7 is as follows:
Sequential Control Number (SCN) is a number that is assigned to each item in
A sequential control number can be found on the back of a genuine card.
The control number is an alpha-numeric combination that has nothing to do with the real social security number on the card. The Social Security Administration’s computer records, on the other hand, should demonstrate a link between the control number and the social security number and name on the card.
Of course, he’d say something like that, wouldn’t he? He’s most likely a Bilderberger bankruptcy trustee.
Is it still possible to cash in war bonds?
Because war bonds are nontransferable, you won’t be able to cash one that isn’t in your name. There are a few exceptions, such as if you are the parent of a minor who is designated as an owner or co-owner, as a beneficiary, or as a legal agent demanding payment.