My wife and I each have an old paper ibond (2008) that we would like to redeem. I see four options:
1) If our bank will do it (haven't checked yet) that is our first choice.
2) Another option is to convert them to electronic ibonds and then redeem them. I think we would each have to set up a conversion account and mail in our ibond separately.
3) Another option is mail the ibond(s) to the treasury with this form:
https://treasurydirect.gov/forms/sav1522.pdf
The title of the form is: "Special Form of Request for Payment of United States Savings and Retirement Securities Where Use of a Detached Request Is Authorized". What is a detached request? Is this a form we can use? Also, she is a co-owner of my ibond and I am a co-owner of hers. Can one of us use the form and redeem both ibonds, or do we each need to redeem them separately?
4) There is also a form for lost or stolen paper bonds. It looks like that might actually be simpler and less hassle than options 2 and 3.
I understand from several threads on this forum that option 2 takes about 13 weeks. Does anyone have any knowledge of how long options 3 and 4 take? I would like to report the earnings this year if possible.
--vtMaps
1) If our bank will do it (haven't checked yet) that is our first choice.
2) Another option is to convert them to electronic ibonds and then redeem them. I think we would each have to set up a conversion account and mail in our ibond separately.
3) Another option is mail the ibond(s) to the treasury with this form:
https://treasurydirect.gov/forms/sav1522.pdf
The title of the form is: "Special Form of Request for Payment of United States Savings and Retirement Securities Where Use of a Detached Request Is Authorized". What is a detached request? Is this a form we can use? Also, she is a co-owner of my ibond and I am a co-owner of hers. Can one of us use the form and redeem both ibonds, or do we each need to redeem them separately?
4) There is also a form for lost or stolen paper bonds. It looks like that might actually be simpler and less hassle than options 2 and 3.
I understand from several threads on this forum that option 2 takes about 13 weeks. Does anyone have any knowledge of how long options 3 and 4 take? I would like to report the earnings this year if possible.
--vtMaps
Statistics: Posted by vtMaps — Mon Oct 07, 2024 6:25 pm — Replies 2 — Views 140