I Bonds For Husband And Wife

Ratesaver
  |     |   99 posts since 2013

Decided to purchase i bonds however some questions i am hoping someone will fill me in on... I open an acc. do I need to also open another acc. if I purchase bonds for her... 10,000.00 dollars worth for her and the same for me.. Planning on doing it soon and is it necessary to purchase them near the end of the month like now or today... Can I just do it next week or so... Then 6mo of interest at the going rate and so forth ... Can I have beneficiary's. on the same acc. Small questions but it will help... Thanks



Answers
alan1
  |     |   684 posts since 2015
1. A separate Treasury Direct account must be established if your wife wishes to purchase bonds.
from Treasury Direct:
Who may own an I bond?
To buy and own an electronic I bond, you must first establish a TreasuryDirect account.
https://treasurydirect.gov/indiv/research/indepth/ibonds/res_ibonds_ibuy.htm

2. Bonds purchased in December will have an issue date of December 2021. So, December purchases can be scheduled for later in December -- there's no reason to purchase next week. You would the earn the current I bond rate for the 6-month period beginning December 1, 2021.

3. An individual owner can name a beneficiary.
from Treasury Direct
Registrations for Individuals
[snip]
Owner and beneficiary
Only the owner may make transactions. If he or she dies, the beneficiary becomes the only owner. The beneficiary can’t be an entity.
The registration says “PAYABLE ON DEATH,” or “POD.”
Example of registration: JOHN DOE POD TO JANE DOE
https://www.treasurydirect.gov/indiv/research/indepth/ibonds/registeringibonds.htm

Note 1 : There are three forms of registration for individuals who own Series I Savings bonds:
One owner;
Owner and beneficiary
Two owners

Note 2: The answers to your questions are totally independent of marital status. Nothing to do with "Husband And Wife" or "Husband and Husband" or "Wife and Wife".
For Series I bonds owned by individual(s), it's the person(s), not the presence or absence of a marital tie.
Ratesaver
  |     |   99 posts since 2013
Alan, thanks so much for your info; I have the info and now I will run with it... There is a first for everything even at my age 78...Thanks again


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