2/15/2023 0 Comments Donate us savings to college![]() Both parties must sign along with the person having his or her name added to have their names removed. The remaining person’s name will remain on the bond. If there are two persons listed as co-owners on the bond, only one person is required to sign. The person listed on the form may transfer the bond and to have his or her name removed from it. You will be required to provide identification at the time of the signing. If you have no way to download the form you may also contact the US Treasury and ask them to mail the Request to Reissue United States Savings Bonds. You can find the form online at the official US Treasury website. This form is completed and sent to the US Treasury along with the bond. The first step in the process is to complete a reissue request. Only an owner with his or her name appearing on the bond may cash in or transfer the bond. Every US Savings bond issued bears the name of the owner or owners in print on the bond. Zacks explains the process of transferring a savings bond into the name of another person. How the process pf transferring a saving bond to another person is done Some owners may transfer the bonds to a newly married couple, but the main reason for transfer is for gift giving. Parents, grandparents, aunts, or uncles may give their children savings bonds as a gift, or transfer ownership to a godchild, grandchild, niece, nephew, etc. One of the main reasons is for gift giving. There are several reasons why you might wish to transfer a savings bond to someone else. If the bonds are transferred as a gift and you completely remove your name from the bonds, you are responsible for paying taxes on all of the accrued interest of the bonds. You may request a formal change of title to switch the bonds into the names of other persons. The answer to the question is yes, but there is a caveat that is attached. Can you transfer a savings bond into another person’s name?Īccording to, savings bonds may be transferred into the name of another person if you own the bond. These are safe investments that are backed by the credit of the United States government and they deliver a return on the investment as the bond reaches maturity. The investment helps the US government to borrow more efficiently. What is a savings bond?Ī US Savings Bond is a debt security that the United States Department of the Treasury issues to an investor. Here is everything you need to know about the transfer of savings bonds. If you’re wondering how this process is accomplished you’re in the right place. The bonds are issued in the name of the purchaser, but can you transfer them into another person’s name? If so, how is the process completed? These are questions that are frequently asked by savings bondholders. Savings bonds are valuable assets that are usually purchased as a part of an investment or retirement plan.
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