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How do I Cash US Savings Bonds I Found (Inherited)
Old 11-01-2019, 09:30 AM   #1
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How do I Cash US Savings Bonds I Found (Inherited)

Well, this is a mess.

My father passed away almost 10 years ago. My mom just passed this year. Going through her possessions as part of cleaning out the house I found about 15 US Savings bonds, most of them are E series but there are a few EE as well.
They range in age from 1972 to 1983. The total matured value is about $1,800.

The bonds are all in my father's name.

About 25 years ago my folks created a revocable trust and put their assets into it. I am now the sole trustee of that trust. My sister and me are the two heirs. Upon my mom's death a new Fed Tax ID was assigned to the trust.

How in the heck do I cash these US Savings bonds?
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Old 11-01-2019, 09:38 AM   #2
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Read this article. It explains what to do.
https://budgeting.thenest.com/cash-s...ive-26816.html

Good Luck!
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Old 11-01-2019, 09:43 AM   #3
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See instructions here:

https://www.treasurydirect.gov/indiv...ds_eedeath.htm
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Old 11-01-2019, 09:48 AM   #4
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If these bonds were never retitled into the trust, they remain part of your father's estate.

Whoever was the estate's executor should go a bank at which he/she is already a customer. Bring documentation showing appointment as executor. Despite the delay the bank will likely let the executor deposit the bond proceeds into a new account so the executor can disburse them per the will. The bond interest will be considered income of the beneficiaries.

Executor appointment expires after a period. If it has expired, and if the bank is very picky, they will require the executor to be reappointed by the court. The bank is less likely to require this if everything else seems in order, and if the executor and your father are/were both customers.
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Old 11-01-2019, 09:51 AM   #5
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Originally Posted by njhowie View Post
That's a good reference since, unlike my post, it covers all possibilities. My post assumed the "If a court or state law is involved" applies.
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Old 11-01-2019, 11:11 AM   #6
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Quote:
Originally Posted by Magoo30 View Post
Read this article. It explains what to do.
https://budgeting.thenest.com/cash-s...ive-26816.html

Good Luck!
Kind of leery of doing this...

If your family member didn't leave behind a large estate that requires going through the court system, you can fill out FS Form 5336 instead. Once the information has been filled out, the form must be signed in front of a certifying official. Place the form, the original bond and your loved one's death certificate in a bubble mailer and send it to Treasury Retail Securities Site, PO Box 214, Minneapolis, MN 55480-0214.

But that is the procedure listed at both links provided.
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Old 11-01-2019, 11:22 AM   #7
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Kind of leery of doing this...
I would be too. Something I forgot to mention about your bank, if you deposit the bond proceeds rather than cash them immediately, the bank might be more willing to save you the hassle of directly dealing with the Treasury.
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