To do this, you must register ownership of the securities in “beneficiary” form. You simply register ownership in your name, followed by the words “payable on death to” and the name of your beneficiary. The beneficiary must be a person, not an organization.

Can you still buy savings bonds at the bank?

You can no longer purchase paper Series I and EE savings bonds—those convenient envelope-stuffer gifts—at banks and credit unions; you must buy electronic bonds through the Treasury Department’s Web-based system, TreasuryDirect. Choose “sole owner” if one person—you or a gift recipient—will own the bond.

Can I transfer my savings bonds to another person?

Yes. The owner can transfer EE and I Bonds to another person with a TreasuryDirect account; however, you must wait five business days after the purchase date to transfer the bonds.

Where to cash savings bonds issued to minor children?

The savings bond cashing rules allow the bank to accept the word of an established account holder that another person is the one named as owner printed on the bond. This means that a good place to cash a kid’s bond will be the bank where the parents have an account and can verify that the youngster is the bond owner.

Can a child be a beneficiary of a savings bond?

If you establish a revocable living trust and want the bonds reissued in the trust’s name, use FS Form 1851. Although you can give the gfit of savings bonds to adults or children, if a child is under 18, she cannot have a TreasuryDirect account without an adult custodian or parent creating a minor linked account for her.

How to name a minor as co-owner of savings bond?

Fill out IRS form 8888, list the minor as a co-owner, and include the form with your tax return. To name a child as co-owner on electronic Series I or EE bonds, the child’s custodian establishes a primary online savings bond account for himself on the government’s TreasuryDirect website, and then opens one for the child.

Can a minor buy a bond in the name of an adult?

Though a minor can’t buy a bond, that doesn’t mean a child can’t own any. Anyone can give a gift bond to a minor. Additionally, an adult custodian such as a parent can buy bonds in the name of a child. This includes naming a minor as a co-owner of the bond.