Hi all - interesting thread, unfortunately I'm new on this topic and got to this thread late (yesterday, 4/28 at 10:45pm central time).
It looks like my purchase went through, but my gift purchases appear to show status of "Purchase Requested" with a date of 4/29. I know I submitted before midnight my local time, but guessing Treasury Direct uses Eastern time.
What happens now? Will my Gift Purchases be effective on Monday, 5/2? If so, what rate will it be as a gift in about 5 days or 1/1/2023?
Thanks for sharing your knowledge.
I made our tax return refund $5,009.00 , so that $5,000 would be in I-bonds and $9.00 would go to the bank account, thereby letting me know when the return had processed.
My aunt and uncle set up TD accounts but TD wouldn't work with their Navy Federal bank account so they had to do paperwork to set up another bank account with TD and they just mailed it our on Friday.
Since they wanted the 7.12%, I agreed to buy them gifts and deliver them to them and they will reimburse me. At the end of the day it is the same as if they bought them in their own accounts and took the money out of their checking account.
I made the gift purchases last night and saw that the withdrawals hit my bank today. Logged onto TD and they show in my gft box.
When I tried to deliver them to their TD accounts I got an error message that they need to sit in the gift box for 5 business days before they can be delivered so I'll have to wait until next week to re-try delivering them.
Put that in the "learn something new every day" category.
jazz4cash; said:I’m curious why the NFCU account doesn’t work.
always_learning; said:Apologies if this has been addressed. I read through all 40+ pages and then poked around on the TD website and didn't find the info.
Does anyone know what happens to the bonds purchased, but not yet gifted, in the event of death of either the purchaser or the recipient since bonds held in the gift box can't be altered?
Thanks Dash man.They are owned by the intended recipient, and the estate executor would be responsible to ensure delivery of the iBond. If the recipient also dies, it would go according to the estate laws of the state.
always_learning; said:What if the bonds are pre-purchased for, say, three years by a spouse, as some here have done. Would the estate stay open for that amount of time until the last bond is gifted? I'm trying to envision how this would work in the case of the death of either the purchaser or the recipient.
I did read somewhere on the site that gift bonds have to sit for 5 days before they can be delivered. Something about ensuring that the payment has cleared.
Yeah. That's about what I figured the answer would be. LOL.That is beyond my ability to answer and might be a question for an estate attorney.
That is beyond my ability to answer and might be a question for an estate attorney.
Inheriting I Bonds isn't subject to the annual limit. If the purchaser died, the recipient gets all the undelivered gifts at once. If the recipient died, the designated second owner or beneficiary or the estate gets all of them at once.What if the bonds are pre-purchased for, say, three years by a spouse, as some here have done. Would the estate stay open for that amount of time until the last bond is gifted? I'm trying to envision how this would work in the case of the death of either the purchaser or the recipient.
Just checked out of curiosity. I have some I bought in 2001 that are paying 10.23%.
Really! Are you sure? We bought 10 I bonds over a 5-year period in the early 2000s. They're sitting in a lockbox at the bank. We're not touching them. I use the treasury direct every so often to check interest rates. I did not see 10.23%. Maybe I should check again.
It would be base rate + inflation rate (was 7.12%)
So if your base rate on a bond is 3%, then you are getting over 10%.
It would need to be the very EARLY 2000's :
Past rates:
May 1, 2001 3.00%
November 1, 2000 3.40%
May 1, 2000 3.60%
November 1, 1999 3.40%
May 1, 1999 3.30%
November 1, 1998 3.30%
September 1, 1998 3.40%