Converting I-Bonds

Yoheadden said:
https://thefinancebuff.com/how-to-deposit-paper-i-bonds-to-online-account.html

Here is a link that goes over all of the steps needed to convert paper to electronic.

I received my paper I Bonds on Friday from this years return and was just doing this today. I was able to get to the point of creating a manifest, when it asked me one of my 3 security questions. Unfortunately, I couldn’t think of the answer, nor find any of the 3 security questions written down anywhere. After 3 attempts, I got locked out and got a message to call them. So this is what I’ll be doing tomorrow.
Click to expand...

I use a password manager, keepassXC.
It gives me all the security of having a separate long random password for each site, so I don't have to remember any passwords.
Everything is in 1 place. Easy to back up as it's simply an encrypted file so I just copy it.

One of the best parts is: There is a big space for each entry, where I can list down as I'm making my login for a site, the security question and answer.
The space is huge, so no limits in practical terms.

Then when I login and they ask the security question, I can look down below and see the answers.

Keeps it tidy, and organized.
 
RunningBum said:
I got an email 12 days after I mailed them that they were received, and it would take 4-6 weeks for them to process them before they'll show up in my account. You're about 2-3 weeks behind me, so they might be even more backed up now. But you should be getting that first email soon.
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My I-bonds showed up in my Treasury Direct account today, 2.5 weeks after I got the email that said it would take 4-6. About a month total from when I mailed them via regular US Mail.
 
Chuckanut said:
I sent in several I-bonds I received as part of my income tax refund to be converted to my Treasury Direct account over two weeks ago. So far I have not heard a word concerning them.

Those of you who have converted paper i-bonds to electronic form in Treasury Direct, how long did it take? Did you get any email acknowledging that the bonds were received, being processed and converted?
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I'm at the 3 week point.

I never received an email regarding the bonds being received and/or mentioning a waiting time. I did check the manifest list today and it says that processing is "in progress".
 
Does TD close your account? I created a linked account about 3 weeks ago. When I logged in yesterday, TD said that it was closed.
Important message(s):

The account number you entered has been closed.
Click to expand...
 
Does the application require an entry of serial number for each bond? Our bonds are stored in the safety deposit box. We may need to fetch them for the application process, right? We need to turn them in anyway.
 
Have you seen an update yet?

I checked on TreasuryDirect and my conversion is done. I can't find the exact date that it happened, but it didn't take nearly 4-6 weeks that they said it would.

I suspect they received the bonds on 3/21 and they showed up in my account less than 3 weeks later. I transferred them to the main account, which was immediate. Now I can forget about this until next year.

I hope yours show up soon.
 
Today, exactly four weeks after I mailed my I-bonds to the Treasury for conversion to electronic format, they have shown up on my TD account. One more data point in how long it takes.

FWIW, I never received any of the email notifications that some have reported here. But, they are now converted and in my account.
 
Thanks for the datapoint, just did my conversion and mailed them today. I only used a stamp in a regular envelope, you can get your bonds back if they're lost in the mail. Take pics of all the bonds before you send them!
 
Chuckanut said:
Today, exactly four weeks after I mailed my I-bonds to the Treasury for conversion to electronic format, they have shown up on my TD account. One more data point in how long it takes.

FWIW, I never received any of the email notifications that some have reported here. But, they are now converted and in my account.
Click to expand...

We sent our single bond in on 4/18 and have never received an email of any sort.

DH logged in to his account to check that way, and for some reason he has been locked out of his TD account.

He’s been calling to see why he’s locked out, and wait times are 2 hours, they say. He’s not made it that long, so far.

Maybe today.
 
tulak said:
Have you seen an update yet?

I checked on TreasuryDirect and my conversion is done. I can't find the exact date that it happened, but it didn't take nearly 4-6 weeks that they said it would.

I suspect they received the bonds on 3/21 and they showed up in my account less than 3 weeks later. I transferred them to the main account, which was immediate. Now I can forget about this until next year.

I hope yours show up soon.
Click to expand...

I was not aware converted bonds could be moved to your main account..I think I would like to do it..Is there any reason not to? Is this possible and if so how do you do it?
 
Here is my data point on conversion time.
Mailed paper bonds: 2/28/2022
Delivered: 3/6
Received email acknowledgement: 3/11
Converted: Not yet!
 
Done said:
Here is my data point on conversion time.
Mailed paper bonds: 2/28/2022
Delivered: 3/6
Received email acknowledgement: 3/11
Converted: Not yet!
Click to expand...

That's quite a wait. But, at least you did receive and acknowledgment that they were received.

This differences in people's experiences reinforces the advice to make a copy of the bonds one sends in and keep a record of the date(s) sent.

I suspect the TD is rather swamped since they offer one of the hottest investments in town.
 
Chuckanut said:
I suspect the TD is rather swamped since they offer one of the hottest investments in town.
Click to expand...


When you call CS, the announcement now says it may up to 8 weeks to process mail. Mine has been just over 8 weeks, but I didn't try waiting >2 hours for them to answer the phone. I suspect they would just tell me to wait longer.
 
Done said:
When you call CS, the announcement now says it may up to 8 weeks to process mail. Mine has been just over 8 weeks, but I didn't try waiting >2 hours for them to answer the phone. I suspect they would just tell me to wait longer.
Click to expand...


I was on hold for an hour and a half with Treasury Direct this morning but eventually got through and resolved my issue. The representative was clearly harried but pleasant.

Thank heaven for speakerphones and a well-stocked music library on shuffle.
 
lawman said:
Done! thanks...I sure hope this was not a taxable event..
Click to expand...
It's not, but think about it for a minute if it was. What was your purchase cost (basis) and what is the converted value now?
 
Done said:
When you call CS, the announcement now says it may up to 8 weeks to process mail. Mine has been just over 8 weeks, but I didn't try waiting >2 hours for them to answer the phone. I suspect they would just tell me to wait longer.
Click to expand...

Yeah I'm at 4 weeks as of today and no update on status in manifest, nor have I received an email that Treasury got them. So I keep waiting...
 
We have 10k in paper (I guess they are worth about 15k by now). Is there any real rush to convert them to electronic?
 
Fermion said:
We have 10k in paper (I guess they are worth about 15k by now). Is there any real rush to convert them to electronic?
Click to expand...


There’s no rush if the paper bonds are in a secure location and wouldn’t get lost or overlooked upon your passing. I just prefer to have them in an account for the eventual convenience to me or my heirs. It does take weeks of waiting to convert them to electronic form, and you won’t be able to redeem them while in transit.
 
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