Golden sunsets
Thinks s/he gets paid by the post
- Joined
- Jun 3, 2013
- Messages
- 2,524
It's pretty clear in the link noted above: no joint owners and no beneficiaries. Taxes on the accrued interest due upon death of the registered owner.
Surely, someone has owned I-Bonds for a year or more?
I update mine the first of every month and use a web based Tool Do a search on Treasury direct for: Savings Bond Calculator
I've owned them for over 20 years. But that doesn't mean I will do your homework for you.
My iBond from November 2002 is now paying 8.78%...sweet!
From mid 2001 (the good old days when there was no cap on purchases and you could even buy them with a credit card and earn points and whatnot) - 10.23%.
The $10,000 limit is per registration, so a married couple can by $30,000 worth with two individual registrations and one joint registration. A trust would be another way.
Are you sure? I question it only because it is contrary to everything else that I have read that it is $10,000/person and $20,000 for a couple. Do you have a link where this is allowed?
If so, that would be great!
If that's the case that they don't seem to enforce it then I suppose that you could have skipped the joint account and just bought more that $10k in each of your individual accounts.
I wonder what they would do if we each bought $200k of i-bonds but only did it one time?
I bonds can have a beneficiary, just like a bank account for Personal registrations.
It is not allowed for some (maybe all) entity registrations.
I did it on my personal registration and can see DW's name. I was not allowed to do it on my entity registration.
https://www.treasurydirect.gov/indiv/help/TDHelp/howdoi.htm#addsecondary
From the site:
How do I add a secondary owner or beneficiary to my securities?
Adding a secondary owner or beneficiary to securities registered in single ownership form is simple in TreasuryDirect. You can edit securities being held in Current Holdings; however, you cannot edit savings bonds held in your Gift Box. Securities in a Conversion Linked account (CLA) must first be transferred to a primary or another linked account in order to add a secondary owner.
Your electronic savings bonds and marketable securities may be registered in your name alone, your name with a secondary owner, or your name with a beneficiary. Each registrant's taxpayer identification number must be shown. Note: Registrations in entity accounts may not name a secondary owner or beneficiary. All securities in an entity account carry a registration identical to the entity account name.
To add a secondary owner or beneficiary to your securities registered in single ownership form:
- Log into your primary TreasuryDirect® account.
- Click the ManageDirect tab at the top of the page.
- Under the heading Manage My Securities click "Edit" a registration.
- On the Edit Security Registration page, choose the security type you want to edit and click "Select".
- On the Summary page, choose the security or securities you wish to edit and click "Select" (you may edit up to 50 securities to the same registration).
- On the Detail page, select the registration containing the secondary owner or beneficiary you desire from the drop-down box. (If you've never created the registration, you can do so by clicking "Add New Registration". Once you've created the new registration, the system will bring you back to the Detail page where you'll find the new registration listed in the drop-down box.) Note: Entity accounts may only have one registration. All securities in an entity account carry a registration identical to the entity account name.
- Once you've selected the desired registration, click "Submit" to complete the change in registration for the security.
Yes. good info. I will be following this as well.This is great information. I successfully changed the registrations for my solely held ibonds and my husbands solely held ibonds to jointly held. I had interpreted the statement that an entity could not have a co owner or a beneficiary to mean individuals. Thanks for posting.
Seems like it. So if I am reading all this correctly, DW and I could each purchase up to $10k in I bonds and then do a $5000 paper I bond purchase with a tax refund if it is equal to or greater than $5000.Isn't it simpler to overpay the 2021 estimated taxes by about $5000 and buy a bond with the refund? Sure it's not the full $10,000, but you won't have the Feds knocking on your door either.
Isn't it simpler to overpay the 2021 estimated taxes by about $5000 and buy a bond with the refund? Sure it's not the full $10,000, but you won't have the Feds knocking on your door either.
Seems like it. So if I am reading all this correctly, DW and I could each purchase up to $10k in I bonds and then do a $5000 paper I bond purchase with a tax refund if it is equal to or greater than $5000.
Is this correct? So total up o $25k per year.
I may even be wrong about that. It may be $5k in paper bonds for each ss number. So may be a total of $30k for a couple? Still researchingThat's my take on it, though as a single guy it would only be $15k a year.
Hey, $15k this year, $15K next year, pretty soon it adds up to real money.
Same for $25k.
Heck . this guy says a couple could actually buy as much as $65k total by using trusts and a business account as well. https://thefinancebuff.com/how-to-buy-i-bonds.htmlI may even be wrong about that. It may be $5k in paper bonds for each ss number. So may be a total of $30k for a couple? Still researching
^^^ I think that's the correct interpretation. Not sure it is worth the effort/hassle of setting up trust and business account and getting separate TINs for each though.